Lazard：2025年私募二级市场报告（英文版）（23页）.pdf

1、C O N F I D E N T I A Lclick on the If you already have an image on your Secondary Market Report 2025PRIVATE CAPITAL ADVISORYF E B R U A R Y 2 0 2 6C O N F I D E N T I A LDisclaimerLazard has prepared these materials based upon publicly available information,anecdotal information and Lazard Estimate

2、s(as defined on this page).Portions of the information herein may be based upon certain forward-looking statements,estimates,projections and forecasts with respect to the anticipated future performance of markets referred to herein,which may not be accurate.These materials shall neither be deemed an

3、 indication of the state of such markets financial conditions or prospects,nor shall they constitute an indication that there has been no change in such markets financial conditions or prospects since the date of these materials or since the date as of which Lazard prepared these materials.Neither L

4、azard nor any of its affiliates or its or their respective employees or other agents assume responsibility for,or make any representation or warranty,express or implied,with respect to,the accuracy,adequacy or completeness of the information contained in these materials.Each of Lazard and its affili

5、ates and its and their respective employees and other agents expressly disclaim any liability based on such information,errors therein or omissions therefrom.The information set forth herein is based upon economic,monetary,market and other conditions as in effect on,and the information made availabl

6、e to us as of,the date hereof,unless expressly indicated otherwise herein.These materials are summary in nature and do not include all of the information that sponsors,investors,companies or others should evaluate in considering any possible transaction,nor do these materials constitute or include a