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五年期已支付资本的分配在2025年达到了记录最低水平
五年期已支付资本的分配在2025年达到了记录最低水平
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所属报告:
麦肯锡:2026年全球私募市场报告——基础设施:投资赋能全球增长(英文版)(12页).pdf
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五年期基金中的基金指数按基金四分位数的回报(以100为基准)
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2026-04-20
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五年期LPR(%)(右轴)
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行业数据
2026-03-03
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图表52五年期散货船二手船价格(百万美元)
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2026-01-30
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五年期国债期货跨期价差(当季-下季)(单位:元)
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2026-01-20
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图 4.1.2中医药领域发文量前十位国家/地区核心指标五年期对比:2014—2018 年与 2019—2023 年发文量、
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行业数据
2026-01-14
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五年期国债期货主力合约隐含利率与国债到期收
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行业数据
2026-01-14
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五年期国债期货主力合约隐含利率与国债到期收
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行业数据
2026-01-12
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五年期国债期货主力合约隐含利率与国债到期收
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2026-01-07
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五年期国债期货主力合约隐含利率与国债到期收
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2025-12-26
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五年期国债期货主力合约隐含利率与国债到期收
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2025-12-23
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五年期国债期货主力合约隐含利率与国债到期收
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2025-12-19
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五年期IRS套保十年期国债效果
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2025-12-19
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五年期国债期货主力合约隐含利率与国债到期收
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2025-12-19
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五年期国债期货主力合约隐含利率与国债到期收
fCDmjIfmoIflkI3np7AgICAgICAgICAgICAgICB8IOminOiJsiAgIHwKfC0tLS0tLS0tLS0tLS0tLS0tLS0tLS0tLXwtLS0tLS0tLXwKfCBURumakOWQq+WIqeeOhyAgICAgICAgICAgICB8IOe6ouiJsiAgIHwKfCBURiBDVETliLDmnJ/mlLbnm4rnjocgICAgICAgfCDnsonoibIgICB8CnwgN+W5tCAgICAgICAgICAgICAgICAgICAgfCDpu5HoibIgICB8CnwgNeW5tCAgICAgICAgICAgICAgICAgICAgfCDpu4ToibIgICB8CnwgM+W5tCAgICAgICAgICAgICAgICAgICAgfCDngbDoibIgICB8CgrotYTmlpnmnaXmupDvvJrlkIzoirHpobrvvIzljY7ms7DmnJ/otKfnoJTnqbbpmaI=
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2025-12-17
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随着基础设施市场的成熟,私人资本面临着将风险与回报在越来越长期的持有期内对齐的 复杂挑战。行业的顺风影响不足以维持和加速长期所需部署的资本量 相反,管理者需要加快向主动价值创造的转变。一些市场领导者已经在展示这一方向 代的回报,而非立即的流动性 然而,随着基础设施从传统资产演变为更复杂、交叉的行业,随着持有期的延长,挑战将 持有期;持有资产的平均年龄(即已投资但尚未退出的投资)在2017-2022年间从3.1年提 升到3.3年,在2023-2024年间提升至3.5至3.8年 流动性压力可能会加剧--不仅仅是基础设施,其他资产类别也会如此。在我们对全球300 家领先有限合伙人的调查中,已支付资本的分配(DPI)现在与投资资本的倍数(MOIC) 并列为影响有限合伙人配置决策的第二重要指标。正因为基础设施中的资本周期延长可能 变得如此紧迫,因此可以预期基础设施投资者会对净现金回报给予越来越多的关注。五年 期DPI在2010年代中期的高退出周期中达到了最高峰(中位数约为40%);此后已下降至 约13%(展览9)。尽管基础设施的DPI比私募股权波动性小,但其明显的下行趋势与更广 1 SPI由StepStone提供,2026年3月1日
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麦肯锡:2026年全球私募市场报告——基础设施:投资赋能全球增长(英文版)(12页).pdf
五年期已支付资本的分配在2025年达到了记录最低水平
2025年的基础设施融资比去年更为集中于超过100亿美元的基金
基建设施进入一个适度增长阶段,干粉的减少导致了更健康的已部署资本与未调用资本的比例。
核心价值和增值策略的融资在过去几年中增长最快
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