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PitchBook:2026年第一季度美国公开市场私募股权与普通合伙人交易综述报告(英文版)(29页).pdf

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1、USPublic PE and GP Deal RoundupQ12026Q1 2026 US PUBLIC PE AND GP DEAL ROUNDUP2ContentsInstitutional Research GroupSteven Buibish,CFA Director,US Private Equity Jinny Choi Senior Research Analyst,Private Equity Garrett Hinds Senior Research Analyst,Private Equity Kyle Walters Research Analyst,Private

2、 Equity Harrison Waldock Senior Data APublished on May 27,2026Key takeaways 3PE performance 5Deployment 7Realizations 10Fundraising 12Strategy expansion 17Share of AUM by manager and strategy 19GP deal activity 21GP stake transactions 23Operating results 24Stock performance and comparables 25Referen

3、ces 28Note:“PE”has a specific meaning for the seven major public alternative managers referenced in this report.1.Blackstone and Carlyle:“Corporate PE”as defined in company reports.2.KKR:“Traditional PE”as defined in company reports.3.Apollo:“Flagship PE”and“European principal finance”as defined in

4、company reports.4.Ares:“Corporate PE”and“special opportunities”as defined in company reports.5.TPG:“Capital,”“growth,”and“impact”as defined in company reports.6.Blue Owl:“PE”represents PitchBook estimates of ownership stakes held by“GP Strategic Capital”funds in managers primarily engaged in PE buyo

5、ut and growth equity strategies.Note:“Private credit”has a specific meaning for the seven major public alternative managers referenced in this report.1.KKR:“Alternative Credit”as defined in company reports.2.Ares:“US Senior Direct Lending”as defined in company reports.3.Blue Owl:“Direct Lending Gros

6、s Returns”as defined in company reports.4.Apollo:“Direct Origination”as defined in company reports.5.Blackstone:“Private Credit”as defined in company reports.6.Carlyle:“Global Credit”as defined in company reports.7.TPG:“TPG AG Credit”as defined in company reports.Click here for PitchBooks report met

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1. **PE与信贷表现**:Q1 2026七大公共另类管理人PE中位数回报转负至-0.7%(Q4 2025为+3.2%),主因软件估值压缩;私人信贷中位数回报降至0.6%(TTM 8.9%),软件暴露差异致业绩分化。 2. **投资动向**:PE部署环比降17.8%至289亿美元,转向基建、能源等硬资产;信贷部署环比降32.1%至1263亿美元,因软件风险调整。 3. **退出与募资**:PE退出环比增76%至346亿美元,受益IPO后二级交易;PE募资TTM达1430亿美元,KKR、TPG旗舰基金进展显著。 4. **AUM与策略**:总AUM 4.8万亿美元,信贷占比52.1%;数字基建成核心主题,Blackstone数据中心AUM超1500亿美元。 5. **GP交易**:行业并购活跃,Nuveen以1350亿美元收购Schroders,KKR14亿美元收购Arctos布局体育与GP解决方案。
**软件暴跌影响?** **PE转向硬资产?** **AI投资热潮?**
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