China’s private equity sector is the largest in Asia, and is increasingly seen as a source of growth in an otherwise challenging global market. But as China’s cooling economy makes it harder to find attractive deals, and as the IPO market dries up, private equity players are shifting their attention from sourcing deals to managing their portfolios more actively.

Nick Leung, Managing Partner of McKinsey’s Greater China Practice, discussed this issue with Bruno Roy and Joe Ngai. They’re Partners in McKinsey’s Private Equity Practice in China.