IT to remain hot draw among private equity punters

China's internet and technology sector will continue to be a hot draw among private equity investors, though the value and number of deals may slide in 2017 due to high valuations in the past, according to global consultancy Bain & Company.

Mega deals in this sector, accounting for half the total amount, helped push private equity investments in China to $49 billion in 2016, hitting its second best year on record, said Bain in its latest PE report published on Thursday.

Leading this wave were prolific investors such as Chinese internet firms, State-backed funds and State-owned enterprises, eclipsing the role of traditional private equity funds and venture capitalists.