When it comes to private equity investing, emerging markets may have the sizzle, but North America still has the steak, according to a new poll of  senior private-equity executives released yesterday by KPMG.

Nearly half (48 per cent) of  the 60 executives polled at the SuperReturn US 2010 Conference in Boston earlier this month, said North America was the best region to invest in based on competition, relative valuations, projected returns, economic outlook and relative ease of doing business. China followed with 19 per cent of respondents, Latin America at 17 per cent, and India at 7 per cent.

When specifically asked which BRIC country is seen as the best investment, the private equity executives polled favored Brazil (42 per cent), followed closely by China (39 per cent). India was selected by 19 per cent of the respondents. None selected Russia.

"While many have buzzed over the last few years about the PE opportunities in emerging markets, it's clear that many US investors feel more comfortable on their home turf," Shawn Hessing, national lead partner for KPMG's US Private Equity Group, said in a statement. "Private equity investments are by their nature complicated, and investors must consider how a country's regulatory and political environment may impact a business. This becomes more difficult in a foreign, and in some cases distant, country."

Conference participants were almost evenly divided when asked which sector globally offers the most attractive returns now. Financial services and healthcare each led with 22 per cent of survey respondents, followed closely by infrastructure and energy at 20 per cent. Just 13 per cent of those surveyed selected real estate.