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理特咨询:2025年欧洲私募股权行业状况洞察报告:不确定性下的谨慎乐观(第六版)(中译版)(30页).pdf

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1、Cautious optimism in the face of unpredictability 6th editionI N PA R T N E R S H I P W I T H:THE INSIGHT:STATE OF THE EUROPE AN PRIVATE EQUIT Y INDUSTRY2025CONTENTINTRODUCTION 31.FUNDRAISING WEAKNESS PERSISTS,BUT GPs&LPs EXPECT IMPROVEMENT 6 2.EUROPE IN THE SPOTLIGHT:EUROPE FUNDRAISING SEEN BENEFIT

2、TING FROM US POLICY 103.FEWER BUYOUTS LEAD TO INVESTMENT DECLINES,ACTIVITY PIVOTS TO NEW THEMES 124.DEFENSE:EUROPEAN PRIORITY&PE OPPORTUNITY 165.DIVESTMENT ACTIVITY WEAKENS,CONTINUATION FUNDS BECOME A SIGNIFICANT EXIT ROUTE 186.CONTINUATION FUNDS:A NEW ROUTE TO LIQUIDITY 207.AI CLIMBS THE PRIORITY L

3、IST,GEOPOLITICAL&TRADE CONCERNS EMERGE 228.FUND CATEGORIZATIONS®ULATIONS 26CONCLUSION 28ARTHUR D.LITTLEJONAS FAGERLUND Partner,StockholmGUILLAUME PICQPartner,FranceINVEST EUROPEJULIEN KRANTZResearch DirectorGeneral disclaimerADLs conclusions are the results of the exercise of its best professiona

4、l judgment,based in part upon materials and information provided to ADL by Invest Europe,secondary research,and expert interviews conducted by ADL.Use of this Report by any third party for whatever purpose should not,and does not,absolve such third party from using due diligence in verifying the Rep

5、orts contents.Any use that a third party makes of this document,or any reliance on it,or decisions to be made based on it,are the responsibility of such third party.Neither ADL nor Invest Europe accepts any duty of care or liability of any kind whatsoever to any third party,and/or any responsibility

6、 for damages,if any,suffered by any third party as a result of decisions made,or not made,or actions taken,or not taken,based on this document.2Sentiment and activity can sometimes tell contrasting stories,particularly in unpredictable times.This time last year,optimism was returning to the industry

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根据报告的内容,本文主要概括如下: 1. 欧洲私募股权和风险投资市场在2025年上半年面临挑战,募资额为540亿欧元,同比下降20%。然而,英国和爱尔兰的募资额大幅增长60%,占总额的45%。 2. 投资额为319亿欧元,同比下降31%,主要受宏观经济和地缘政治不确定性影响。然而,增长投资和风险投资相对更具韧性。 3. 退出活动减弱,总额为130亿欧元,同比下降46%。持续基金成为重要的退出途径,67%的GP预计未来12个月将持续基金活动增加。 4. 防御领域成为最受关注的投资领域,47%的GP预计未来12个月将增加对防御领域的投资。此外,AI也成为GP关注的焦点。 5. GP和LP对募资前景存在分歧,近一半的GP预计未来3年投资者对私募股权的配置将增加,而三分之二的LP预计配置保持不变。 6. GP和LP对防御领域的投资意愿显著增加,近一半的GP愿意考虑投资军民两用技术,30%的GP愿意投资仅用于军事的技术。 7. GP和LP对持续基金作为退出途径存在分歧,三分之一的GP更倾向于持续基金,而超过一半的LP更倾向于传统退出。 8. AI成为GP工作流程中的首要关注点,近80%的GP计划未来12个月将更多关注AI。此外,地缘政治风险也成为GP和LP的关注焦点。 以上是对文章主要内容的简要概括。
欧洲私募股权市场前景如何? AI如何影响私募股权行业? ESG和DEI在私募股权行业中的地位如何?
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