全球私人股本业规模达3万亿美元

The value of assets managed by the private equity industry globally continued to rise last year, hitting a record $3tn despite financial market turmoil and sluggish economic conditions.

在金融市场动荡以及经济形势疲弱的背景下，全球私人股本业(PE)管理的资产价值去年继续增长，达到创纪录的3万亿美元。

The results will provide a boost to the private equity industry, which has been struggling with difficult conditions for raising new funds, a slump in deal making activity and heightened public scrutiny following the US presidential campaign of Mitt Romney, the Republican candidate who ran Bain Capital before turning to politics.

这一成绩将为私人股本业的发展注入强劲动力。近段时间以来，由于新基金的筹建变得艰难，加上交易活动的大幅放缓，以及米特·罗姆尼(Mitt Romney)参与美国总统竞选之后，该行业受到的公共审查愈加严格，私人股本业的发展遭遇了重重挑战。这位共和党候选人在迈入政坛之前，曾掌管贝恩资本(Bain Capital)。

Despite the increased criticism, the private equity industry has continued to attract assets from investors such as pension funds seeking investment returns to meet their obligations.

尽管批评声与日俱增，但私人股本业依然吸引了投资者手中的资产，投资者中包括寻求投资回报以满足其义务的退休基金。

In November, the Teacher Retirement System of Texas said that it would hand $6bn to private equity group’s KKR and Apollo Global to manage. The cash is to be invested in buyouts, as well as other funds run by the asset managers, such as those investing in corporate debt.

得克萨斯州教师退休基金(Teacher Retirement System of Texas)去年11月表示，将把60亿美元的资产交予私人股本公司KKR和Apollo Global打理。这笔资金将投资于收购交易，以及这两家资产管理公司运营的其他基金，如投资公司债的基金。

Earlier this year Blackstone proved that it was still possible to raise mega-funds, as it completed a $16bn fundraising that began in January 2011, the sixth largest fund on record, according to Prequin.

今年早些时候，百仕通(Blackstone)的经历证明，组建超大规模的基金仍然是有可能的。此前，它完成了一项160亿美元的募资，这一募资活动始于2011年1月。据Prequin，在所有的基金中，其规模可以排到第6位。

Research by Prequin published yesterday showed the industry’s assets under management rose by 9.4 per cent, down slightly from the 11.9 per cent last year, but the second-highest year of growth since 2007.

Prequin昨日公布的研究结果显示，私人股本业管理的资产规模增加了9.4%，略低于去年11.9%的增幅，但依然是2007年以来的第二大年增幅。

Private equity returns annualised over 10 years to 2011 outpaced the S and P 500 and MSCI Europe indices.

在截至2011年的十年中，按年率计算，私人股本业的回报率超过了标普500指数和摩根士丹利资本国际欧洲(MSCI Europe)指数。

The rate of growth of assets remains, however, well below the 33.6 per cent and 37.6 per cent rates registered when the private equity market was still booming in 2007 and 2006, respectively.

然而，资产增速仍远低于2006年和2007年私人股本市场依然蓬勃发展时的水平。那两年的资产增速分别为37.6%和33.6%。