Private equity (PE) activity in South-east Asia rebounded in 2016 to reach nearly US$7 billion in deal value - spurred by a recovery in Malaysia from "a record low" in 2015. According to Bain & Company's latest annual South-east Asia Private Equity Report, the US$7 billion is up from the US$4.8 billion recorded in 2015, and 14 per cent more than the 2011-2015 historical average, Bain's report, released on Friday, described the rally as a welcome result after a sluggish 2015, and occurring despite global uncertainty and "surprises" which included Brexit and the US presidential election. Sebastien Lamy, head of Bain's private equity practice in South-east Asia, said: "PE markets in South-east Asia are steadily improving, due to a larger pool of targets and more robust general partner networks."