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06
Sep
退出——二级收购、交易销售和IPO
富有挑战性的宏观状况影响了中国私人资本的退出,GP因而退守更为可靠的策略,专心于向真正了解机会的人和其他GP出售股权。根据AVCJ的研究,二级退出交易额在中国私募股权退出总数中的占比从2021年的16.3%已跃升至的55.9%。相比之下,更传统的同行交易和IPO分别占48亿美元交易总额的28%和15%。随着经济的改善,退出交易可能在2023/24年迅速反弹,GP也将对二级交易和IPO市场回报更加满意。本单元的小组讨论主题就是中国市场退出的前景。
- GP和LP如何在不确定时期看待退出并获取流动性?
- 二级交易是否会成为交易流程的主流?挑战有哪些,玩家们如何克服?
- 并购退出会因为监管限制和IPO的长时间积压而变得更普遍吗?
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