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2011年上半年,本土LP群体像“病毒”一样迅速扩容至3947家,我国LP市场迎来了自身成长的高潮。在整个市场中,与“钱少人多”的散户相比,人民币PE基金最主要的LP已是国企。2010年,国企募集金额占比高达69%,这对于一个市场化程度极高的投资门类,国企如此高的参与不得不说是又一起“中国特色”。但是,国内LP群体发展不成熟也是众所周知的事,譬如在募资过程中,PE经常碰到潜在LP表示自己不需要知道私募的模式和逻辑,只需要知道将来赚多少钱就可以了。加之目前“国企一家独大”的局面,未来本土LP市场发展令人堪忧。
In the first half of 2011, local LP groups expanded to 3947 as rapidly as the “virus”, and our LP market ushered in the climax of its own growth. In the whole market, the most important LP of the RMB PE fund is the state-owned enterprise compared with the retail investors with more money. In 2010, the amount raised by state-owned enterprises accounted for as much as 69% of the total investment. For such a high degree of marketization, such high-level participation by state-owned enterprises must be said to be “another Chinese characteristic.” However, it is also a well-known fact that the domestic LP community is under-developed. For example, during the fund-raising process, PE often encounters potential LPs, saying they do not need to know the pattern and logic of private equity and only needs to know how much money they will make in the future. Coupled with the current “state-owned enterprises alone” situation, the future development of the local LP market is worrying.