中國并購基金的進退猜想

Currently， the national PE boom gradually waned. IPO \"barrier lake\" triggered the continuous hot trend of MA. Buyout funds attracted high attentions. For a time， domestic buyout funds are blossoming and foreign buyout funds entered the Chinese market one after another. Not to be outdone， local PE buyout funds also make aggressive moves， brokerage buyout funds are active as \"new comers\"， and industrial capital is ready to expand their scopes. However， what are the challenges accompanying the great opportunities of the markets？ What are the concerns lurking behind the seemingly \"hot\" scenes？ Will buyout funds， an important branch of European and American private equity funds， become acclimatized in the totally different domestic market environment？ Here we present experts’ analysis and interpretation of the dynamics of Chinese buyout fund development.

當前，全民PE熱潮漸退，IPO“堰塞湖”引發并購重組不斷升溫，并購基金受到市場高度關注。一時間，國內并購基金呈現“百花爭艷”的局面，外資并購基金紛紛進入中國市場虎視眈眈，本土私募并購基金也不甘示弱亦重拳出擊，券商系并購基金更以“新秀”之姿不甘示弱，實業資本更是蠢蠢欲動為擴張版圖大顯身手。然而，在市場一片大好的機遇之下，是否看到了伴隨國內并購基金發展而來且必須要面對的種種挑戰？在看似如此“熱鬧”場面的背后又隱藏著哪些隱憂？作為歐美成熟市場私募股權投資基金重要分支的并購基金，在國內完全不同的市場環境下是否會水土不服？敬請聆聽專家的分析，解讀中國并購基金發展路上的進退攻守。