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carried interest

时间:2019-04-25 12:19 来源:原创 作者:

  PE基金,畅通日采取合伙制,普畅通合伙人担负基金的办运营(拥偶然由普畅通合伙人的相干方干为办人担负办运营),普畅通合伙人普畅通收受基金盈利的20%,畅通日称为“carried interest”"盈利分红"或“绩效分红”,或副权利。

  In private equity, in order to receive carried interest, the manager must first return all capital contributed by the investors, and, in certain cases, the fund must also return a previously agreed-upon rate of return (the "hurdle rate" or "preferred return") to investors.Carried interest or carry, in finance, specifically in alternative investments (i.e., private equity and hedge funds), is a share of the profits of an investment or investment fund that is paid to the investment manager in excess of the amount that the manager contributes to the partnership.

  Private equity funds only distribute carried interest to the manager upon successfully exiting an investment, which may take years. The customary hurdle rate in private equity is 7-8% per annum.

  In a hedge fund environment, carried interest is usually referred to as a "performance fee". Hedge funds, because they invest in liquid investments, often are able to pay carried interest annually, if the fund has generated a profit for its investors.

  The manager's carried-interest allocation will vary depending upon the type of investment fund and the demand for the fund from investors. In private equity, the standard carried-interest allocation historically has been 20% for funds making buyout and venture investments.

  Carried-interest rates - performance fees - among hedge funds have historically also centered around 20%, but have had greater variability than those of private equity funds, in extreme cases reaching as high as 50% of a fund's profits, although usually it is between 15% and 20%.

  名词说皓

  匪农业消费力:Nonfarm productivity是反应休憩力市场中匪农民口的消费力展开情景的目的。

  匪农业消费力与匪农赋闲的区佩

  匪农业消费力和匪农赋闲数据的首要区佩和相干性:

  1.前者是反应摒除农业以外面的各项经济的消费力程度;后者则反应了摒除了农业以外面的赋闲人数。鉴于美国首要是以当代当世工业和效力动业、金融业、军工业为主带的国度,因此,该两项数据在很父亲程度上反应了美国经济展开的基础情景。

  2.就两者本身的数据到来看,即兴实上还是拥有壹定正相干性的,但匪农赋闲人数上升并不代表匪农消费力就壹定提高或增长,鉴于消费力的提高取决于技术提高、科技展开、本钱把持、工干主动性等等要斋,而匪农民数的增减并不比定反应消费力的强大绵软弱。

  3.因此就光从消费力或赋闲数据到来铰测敌顺手的上涨跌预期值不是很拥有代表性和正确性。就切磋该两项数据到来说,建议经度过切磋美国的股市中拥有代表性的壹些企业(道30)和壹些突发事情等到来的更拥有价。

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