成人小说亚洲一区二区三区,亚洲国产精品一区二区三区,国产精品成人精品久久久,久久综合一区二区三区,精品无码av一区二区,国产一级a毛一级a看免费视频,欧洲uv免费在线区一二区,亚洲国产欧美中日韩成人综合视频,国产熟女一区二区三区五月婷小说,亚洲一区波多野结衣在线

訂閱

多平臺(tái)閱讀

微信訂閱

雜志

申請(qǐng)紙刊贈(zèng)閱

訂閱每日電郵

移動(dòng)應(yīng)用

專欄 - 從華爾街到硅谷

一家西方私募為何加注俄羅斯?

Dan Primack 2014年10月10日

Dan Primack專注于報(bào)道交易和交易撮合者,從美國(guó)金融業(yè)到風(fēng)險(xiǎn)投資業(yè)均有涉及。此前,Dan是湯森路透(Thomson Reuters)的自由編輯,推出了peHUB.com和peHUB Wire郵件服務(wù)。作為一名新聞工作者,Dan還曾在美國(guó)馬薩諸塞州羅克斯伯里經(jīng)營(yíng)一份社區(qū)報(bào)紙。目前他居住在波士頓附近。
深陷地緣政治沖突,正在遭受一波波制裁的俄羅斯,讓許多私募巨頭望而卻步。但來自瑞典的CapMan公司卻逆私募行業(yè)潮流而動(dòng),新募集了一只專注投資俄羅斯的基金。

????俄羅斯現(xiàn)在可不是西方私募基金爭(zhēng)相投資的地方。那里的沖突太多,制裁也太多。

????比如,黑石集團(tuán)(The Blackstone Group)最近就表示將“放棄”這個(gè)國(guó)家。數(shù)周前,一群前高盛(Goldman Sachs)銀行家也放棄了一個(gè)20億美元的新興市場(chǎng)基金計(jì)劃,該基金原本打算對(duì)俄羅斯進(jìn)行高比例配置。還有一些私募巨頭打算離開資產(chǎn)規(guī)模達(dá)110億美元的俄羅斯國(guó)有直接投資基金(Russian Direct Investment Fund)顧問委員會(huì),至少也在重新考慮他們的參與程度。

????那么,為什么總部位于瑞典的私募股權(quán)公司CapMan不僅保留了其莫斯科團(tuán)隊(duì),日前還宣布,第二只專注投資俄羅斯的新基金已完成近1億歐元的資本認(rèn)繳額?

????CapMan公司業(yè)務(wù)開發(fā)和投資者關(guān)系事務(wù)主管杰羅姆?布伊告訴本文作者,大部分募資發(fā)生在去年(即俄羅斯吞并克里米亞之前)。他承認(rèn),隨著地緣政治局勢(shì)在2014年趨于緊張,很多原本前景很好的投資線索最終不了了之。但他表示,2013年認(rèn)繳的資本無一退出,并力稱制裁不會(huì)給該基金造成太大問題,這只基金專注于投資俄羅斯國(guó)內(nèi)“受消費(fèi)驅(qū)動(dòng)的”中小企業(yè)。

????首先,俄羅斯消費(fèi)者沒有離開。其次,有些公司所處的環(huán)境其實(shí)還比以前更好,因?yàn)橹撇煤捅R布貶值使得國(guó)產(chǎn)商品比同類進(jìn)口商品更可承受。第三,CapMan公司過去撤出投資的很多俄羅斯公司都是賣給了俄羅斯買家(當(dāng)然,也有很多不是這樣,這似乎是一個(gè)值得擔(dān)憂的因素)。

????“我們是1996年進(jìn)入俄羅斯的,在1998年和2000年等年份也有過很多相似的討論。”布伊解釋說,“我們有信心,過去和現(xiàn)在進(jìn)行投資的公司未來將找到買家?!保ㄘ?cái)富中文網(wǎng))

????譯者:早稻米

????Russia is not a place where Western private equity wants to play right now. Too much conflict, too many sanctions.

????For example, The Blackstone Group recently said that it was “giving up” on the country, just weeks after a group of ex-Goldman Sachs bankers abandoned plans for a $2 billion emerging markets fund that was expected to have a major Russian allocation. And then there are the PE bigs who either are leaving the advisory board of the $11 billion state-owned Russian Direct Investment Fund, or who are at least reconsidering their involvement.

????So why is Sweden-based private equity firm CapMan not only maintaining its Moscow team, but this morning announcing that it has closed its second Russia-focused fund with nearly €100 million in capital commitments?

????Jerome Bouix, CapMan’s head of biz dev and investor relations, tells me that most of the fundraising occurred last year (i.e., before Russia’s annexation of Crimea), acknowledging that many promising leads dried up as the geopolitical situation intensified in 2014. But he says that none of the 2013 commitments bailed, and argues that the sanctions should not be too problematic for the fund, which focuses on “consumer-driven” small and mid-sized companies inside of Russia.

????For starters, the Russian consumer isn’t going anywhere. Second, some of these companies actually are in an improved position today, as a combination of sanctions and the ruble’s devcaluation have made locally-produced goods more affordable than rival imports. Third, many of CapMan’s historical exits of Russian portfolio companies were trade sales to Russian buyers (of course, many were not, which seems to be a plausible cause for concern).

????“We started in Russia in 1996, and have had a lot of similar discussions in years like 1998 and 2000,” Bouix explains. “We are confident that the companies were are investing in will find buyers in the future.”

我來點(diǎn)評(píng)

  最新文章

最新文章:

中國(guó)煤業(yè)大遷徙

500強(qiáng)情報(bào)中心

財(cái)富專欄

亚洲国产婷婷六月丁香| 欧美特级午夜一区二区三区| 麻豆国产原创中文AV网站| 久久精品国产v曰韩v亚洲| 波多野结衣姐弟中文字幕天| 久久国产精品成人免费秋霞| 暴力调教一区二区三区| 日韩欧美亚洲国产精品字幕久久久| 尤物爽到高潮潮喷视频大全| 精品久久久无码人妻字幂不卡| 成人A毛片免费视频观看| 国产精品欧美一二区| 色狠狠色狠狠综合天天| 91精品国产福利在线观看麻豆| 亚洲欧洲日韩综合在线| 午夜精品久久久久久久无码| 中文人妻无码一区二区三区信息| 免费国产污网站在线观看不要卡| 性色欲网站人妻丰满中文久久不卡| 2021国自拍产精品视频| 九九视频在线观看欧美| 亚洲精品人成无码中文毛片| 亚洲不卡av不卡一区二区| 亚洲AV秘 无码一区二区四区| 亚洲天天做日日做天天谢日日欢| 久久人人爽人人爽人人片AV不| 国产69精品久久久久9999| 亚洲国产成人综合精品| 国产午夜高清一区二区不卡| 亚洲人成在线观看影院| 国产又粗又猛又黄又爽无遮挡,轻点灬大| 另类 专区 欧美 制服丝袜| 亚洲免费福利精品日韩视频| 国产精品成人va在线观看下载| 一区二区三区内射美女毛片| AV永久免费网站在线观看| 欧美精品一区二区精品久久| 91无码人妻精品一区二区蜜桃| 成年女人毛片免费视频| 国产真实交换配乱吟91| 国产一级毛片高清视频完整版|