22
9月
流动性释放：多元化渠道提高 DPI
随着LP将关注重心从账面估值转向实际DPI，GP正通过更多创新手段获取流动性。公开市场逐步回暖，机构愈发依托规模持续扩张的二级市场解决变现需求，运用接续基金，同时应对控股权收购快速兴起带来的多重复杂问题。行业领军机构将探讨如何选定合适策略，把市场复苏转化为实打实的现金分配。
- 部分海外 LP 谋求提前退出，二级市场基金如何快速释放流动性？
- 对比欧美成熟市场，国内二级市场活跃度偏低的核心症结有哪些？
- 公开市场是否是 PE 股东可行的变现渠道？
- IPO 前景不明朗的背景下，GP 如何依托接续基金，在国内规模持续扩张的收购市场管控风险，兑现实际 DPI？
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SpeakersTim Burroughs Managing Editor, Global Private Funds, and Managing Editor, AVCJ Mergermarket
Ben Hart Senior Managing Director and Head of Asia Private Capital Advisory (PCA) Evercore
Tianshen Rong Executive Director LGT Capital Partners
远 方 Founding Managing Partner Starquest Group
Yang Wang Managing Director Thrive Alternatives
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Tim Burroughs is managing editor of Asian Venture Capital Journal, having joined the publication in May 2011. He is responsible for all editorial content put out under the AVCJ brand, including Asian Venture Capital Journal, AVCJtv, AVCJ Awards and AVCJ.com. Tim previously spent five years at China Economic Review, serving as editor-in-chief and then editorial director. Located in Greater China since 2003, during which time he has lived in Beijing, Qingdao and Hong Kong, Tim has been a China-based contributor for publications including The Sunday Times, Sunday Telegraph, BBC and China Daily. Prior to moving to China, he trained and worked as a journalist in the UK. He was honored at the Society of Publishers in Asia awards in 2007, 2008 and 2010, and at the State Street Institutional Press Awards - Asia in 2012.
Ben Hart is a senior managing director and head of Evercore’s Asia Private Capital Advisory division. He is based in Singapore.
Mr. Hart has more than 20 years of experience in private markets fundraising, institutional investor relations, capital formation and business development across the Asia-Pacific region. He previously served as partner and head of investor relations (Asia) at Adams Street Partners, where he led the firm’s business development and client-service efforts across institutional and private wealth channels.
方远是星界资本的创始管理合伙人，负责公司股权母基金投资及ESG实践。星界资本成立于 2017年，是一家新兴的市场化私募股权投资机构，专注科技、消费和医疗领域投资。在方远先 生的领导下，星界资本成为第一个加入联合国负责任投资原则组织（UNPRI）的人民币母基金 私募股权投资机构及首个获得2019年度奖项“新兴市场年度领袖”的亚洲机构。2025年方远先 生被委任为香港联交所上市委员会成员，成为首个入选的全球母基金行业成员，开创了母基金 行业先河。
在创建星界资本之前，方远先生担任欧洲最大的家族主权基金 LGT资本中国区总裁12年。 LGT资本由列支敦士登王室家族所有,管理超过1000亿美元的资产。方远先生在中国私募股权 中一共投资了超30亿美元，包括鼎晖投资、中信资本、红杉中国、君联资本等老牌基金以及 源码资本、春华资本、高榕创投等新一代基金，并担任20多只基金的顾问委员会成员。
在公共教育领域，方远先生在香港大学担任特邀讲师并受聘为港大兼职副教授，同时是中欧国 际工商学院CEIBS创业营的行业顾问、清华大学经济管理学院金融硕士项目的行业导师。在深 耕高校学术赋能之余，方先生亦不忘回馈母校。他受邀担任上海交通大学基金会特邀理事，也 是上海交通大学正阳奖学金的创始人及捐赠人、欧洲工商管理学院INSEAD Frankie Fang 奖学金 的创始人及捐赠人。
在社会服务领域，方远先生是中国证券投资基金业协会的母基金委员会委员、福布斯中国2020 年“30 Under 30”风险投资领域的评委、未来论坛青年理事会成员（该理事会设立了被誉为“中 国诺贝尔奖”的未来科学大奖）以及美丽中国教育公益项目的捐赠人。
方远先生于2000年毕业于上海交通大学安泰经济与管理学院，获金融与会计学士学位；2006年 毕业于INSEAD，获工商管理硕士学位；2019年毕业于清华大学五道口金融学院，获EMBA学 位。方远先生拥有中国注册会计师资格。他的母语是普通话，同时精通英语、法语和粤语，具 备日语会话能力。
Yang brings over 20 years of experience in private markets, spanning investment management, capital formation, fund operations and strategic transactions. She is a trusted advisor and seasoned finance professional with deep expertise in Asian private markets. She works closely with leading GPs on fund formation, capital raising, and strategic initiatives, including GP-led liquidity solutions and secondary transactions, helping managers navigate institutional growth and evolving investor needs.
Before joining Thrive, Yang served as Chief of Staff at MSA Capital, focusing on portfolio monitoring, fund operations, and organizational development. Prior to that, she was Chief Operating Officer and Investor Relations Director at GenBridge Capital, overseeing fund operations and leading the firm's investor relations and fundraising initiatives. She began her career at PricewaterhouseCoopers, where she spent over a decade advising asset managers and private investment firms.
Yang holds a bachelor's degree in Finance and a master's degree in Economics from Renmin University.