<p>Private equity activity in South-east Asia roared back to life in the third quarter, after a sluggish start.</p> <p>The 32 transactions struck in the three months to Sept 30 had a total value of US$1.91 billion ($2.8 billion) - a stark contrast to the first half of the year.</p> <p>That six-month period was lacklustre, with only US$1.56 billion invested across 56 deals, a report from professional services firm EY said yesterday.</p>