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BCG:2024主权财富基金与公共养老基金对私人市场的塑造力研究报告(英文版)(24页).pdf

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1、GLOBAL PRINCIPAL INVESTORS REPORT 2024 Sovereign Wealth Funds and Public Pension Funds Are Reshaping Private Markets December 2024 By Benjamin Sheridan,Benjamin Entraygues,Mark Harris,Ihab Khalil,Andrew Claerhout,Katharina Obinger,and Candice ChuaContents03 Introduction04 Market OverviewA Decade of

2、Expansion09 Five Emerging Megatrends13 Shifting GP-LP Dynamics15 Five Imperatives for Principal Investors to Thrive18 The Implications for General Partners22 Conclusion23 About the AuthorsBOSTON CONSULTING GROUP GLOBAL PRINCIPAL INVESTORS REPORT 2024 3Introduction Principal investorsincluding sovere

3、ign wealth funds,public pension funds,family offices,and endowmentsplay a critical role in the investment world.Evolving expectations,a shifting interest rate environment,and the need to manage increasingly large asset bases for both performance and impact are transforming how and where these invest

4、ors allocate capital.As principal investors assume a more promi-nent role in the investment landscape and in society more broadly,their relationships with the general partners(GPs)that manage much of their capital are also being reshaped.To succeed in this new environment,principal investors and GPs

5、 must recognize the influence of current market trends and adapt to the shifting dynamics that drive investment strategies across asset classes.This report delves into these trends and underlying forces and their implications.We explore the evolving size and scope of the principal investor universe,

6、the contours of overarching megatrends,and the shifting relationship between principal investors and GPs.Following this analysis,we identify a set of imperatives for principal investors.We conclude by discussing the key implications for GPs and asset managersfactors that we believe will determine wh

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本文主要讨论了主权财富基金和公共养老基金如何重塑私人市场。主要内容包括: 1. 主权财富基金和公共养老基金在投资世界中扮演着关键角色,其资产规模预计到2030年将以6%的年复合增长率增长至约36万亿美元。 2. 这些基金近年来将更多资金投入私人市场,预计现在控制着全球70%的私人资产。其中,基础设施和私募信贷资产增长最快。 3. 主权财富基金和公共养老基金正在加大对基本业务增长和利润优化的关注,以提高内部收益率。他们正在增强共同投资和直接投资能力,以提高回报率,降低费用,并对其投资组合有更多控制权。 4. 地缘政治紧张导致一些投资者改变资本流向,影响合作伙伴关系。一些主权财富基金开始将投资与国家发展目标相一致。 5. 公众审查的加强促使主权财富基金和公共养老基金在环境、社会和治理问题上建立更清晰的指导方针。
主权财富基金和公共养老基金如何重塑私人市场? 主权财富基金和公共养老基金如何应对低回报的传统策略? 主权财富基金和公共养老基金如何通过直接投资和共同投资提高回报和控制力?
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