由于政治文化经济上的差异,本土PE机构的崛起,以及资本市场的低迷等等各种因素带来的挑战,外资PE们的中国路并不好走。“5年前,是外资PE的天下,洋枪洋炮进来。”北京大学经济学院教授何小峰感叹道。当时活跃的外资PE机构既有国外投行的直投部门,比如摩根士丹利、瑞银、高盛等;也有专业的投资机构,比如凯雷、黑石、TPG等。 Due to the differences in political culture and economy, the rise of local PE institutions, and the downturn of capital markets, the foreign PEs in China are not well on their way to China. “5 years ago, is the world of foreign PE, foreign gun came in. ” He Xiaofeng, Professor of Peking University School of Economics exclaimed. At that time, the active foreign PE agencies included direct investment departments of foreign investment banks such as Morgan Stanley, UBS, Goldman Sachs, etc .; and professional investment institutions such as Carlyle, Blackstone, TPG and others.