A “robust” recovery is underway for private equity in emerging markets, according to an industry group. The Emerging Markets Private Equity Association notes that buyouts in developing markets reached US$13bn in the first half of this year, up from US$8bn at the same time last year. The rise was driven mainly by activity in China, India and Latin America.

Fundraising is also ahead of last year, with some US$11bn raised in the first six months of 2010, a 22% increase on the previous year. Although investments remain modest in relation to other emerging regions, fundraising in sub-Saharan Africa in the first six months of 2010 surpassed the total raised in the whole of 2009.