鏈湡鍒嗕韩鐨勫澶栫數鍟嗙煡璇嗘槸璐濇仼璧勬湰鏄粈涔堝叕鍙革紝缇庡浗绉佸嫙鍩洪噾宸ㄥご璐濇仼璧勬湰(Bain Capital)鏈€杩戝張鏈夋柊鍔ㄤ綔锛屾棗涓婼ankaty Advisors灏嗕粠鎽╂牴澶ч€?(J.P. Morgan Chase)鎵嬩腑鏀惰喘鎬诲€肩害13浜跨編鍏冪殑鍊哄姟璧勪骇缁勫悎銆傝礉鎭╂浘鍥犫€滄嫰鏁戔€濇繏涓寸牬浜х殑鍥界編鐢靛櫒鍜屽湪鍥界編 鈥滃唴鎴樷€濅腑娓旂縼寰楀埄锛岃€屼袱娆￠渿鎾间腑鍥戒汉鐨勭缁忋€傚彟澶栵紝璐濇仼楂樺眰闈炲父鐪嬪ソ涓浗甯傚満锛屽湪浜氭床鐨勭害10浜跨編鍏冩姇璧勪腑锛岃繃鍗婃暟浠ヤ笂鎶曞湪涓浗甯傚満鐨勪竷澶ч」鐩笂锛屽骞存潵涓€鐩村竷灞€涓浗銆?/p>

璐濇仼鍚炰笅鎽╂牴澶ч€?3浜跨編鍏冨€哄姟璧勪骇缁勫悎

鎽╂牴澶ч€氬懆涓€(7鏈?8鏃?瀹ｅ竷锛屽悓鎰忓嚭鍞环鍊?3浜跨編鍏冪殑璐锋鍜岃瘉鍒哥粰璐濇仼璧勬湰鏃椾笅鐨凷ankaty Advisors銆傝瀛愬叕鍙搁噰鐢ㄥ€熻捶涓轰富鐨勬姇璧勭瓥鐣ワ紝涓€浜涚壒娈婃姇璧勪汉鎵嶆垨灏嗗姞鍏ankaty Advisors锛屼絾杩樻病鏈夋渶缁堢‘璁ゃ€?/p>

姝ゆ鏀惰喘鎽╂牴澶ч€氳祫浜ф槸Sankaty Advisors鐨勬渶鏂版墿寮犮€係ankaty Advisors鏈€杩戣繕鏀惰喘浜咺rish Bank Resolution Capital銆佽嫳鍥藉姵鍩冨痉閾惰闆嗗洟(Lloyds Banking Group)鍜岀編鍥藉晢涓氳捶娆惧晢CapitalSource鐨勮捶娆捐祫浜х粍鍚堛€?/p>

鎽╂牴澶ч€氭娆″嚭鍞殑璧勪骇缁勫悎鍗充负鏃椾笅棣欐腐Global Special Opportunities Group銆傜煡鎯呬汉澹О锛岃浜ゆ槗鐨勫畬鎴愯€楄垂浜嗕笉灏戞椂闂寸簿鍔涳紝杩欎竴鎷嶅崠鍚稿紩浜嗕竴浜涘叏鐞冩渶澶х鍕熻偂鏉冨叕鍙哥殑鍏磋叮锛屽叾涓寘鎷潬鏉嗘敹璐法浜篕KR & Co. LP銆侀樋娉㈢綏鍏ㄧ悆绠＄悊鍏徃(Apollo Global Management)鍙婇粦鐭抽泦鍥?Blackstone Group)鏃椾笅鐨勭壒鍒姇璧勯儴闂ㄣ€?/p>

Global Special Opportunities Group鏈?5鍚嶉泧鍛橈紝涓昏鎶曡祫浜庨珮鏀剁泭鐜囧€哄姟銆傛娆″嚭鍞殑璧勪骇缁勫悎涓寘鎷湪鍖楃編鍜屾娲插彂琛岀殑澶瑰眰璐锋锛屼互鍙婂湪婢冲ぇ鍒╀簹鍜屼簹娲插悇鍦扮殑璐锋鍜岀壒娈婃儏鍐垫姇璧勩€?/p>

杩欑瑪浜ゆ槗涔熶唬琛ㄧ潃鎽╂牴澶ч€氭兂瑕佺畝鍖栦笟鍔℃€荤被鐨勬効鏈涖€傛懇鏍瑰ぇ閫氱О锛屼氦鏄撲笉浼氬鍏徃鍒╂鼎閫犳垚瀹炶川鎬у奖鍝嶏紝棰勮浜ゆ槗灏嗕簬骞村簳鍓嶅畬鎴愩€?/p>

甯冨眬涓浗澶氬勾

璐濇仼璧勬湰鏄浗闄呮€х浜鸿偂鏉冩姇璧勫熀閲戯紝绠＄悊璧勯噾瓒呰繃650浜跨編鍏冿紝娑夊強绉佷汉鑲℃潈銆侀闄╂姇璧勮祫閲戙€佷笂甯傝偂鏉冨鍐插熀閲戝拰鏉犳潌鍊哄姟璧勪骇绠＄悊銆?璇ュ叕鍙告垚绔嬩簬1984骞达紝涓哄叏鐞冨涓涓氳秴杩?50瀹跺叕鍙告彁渚涚浜鸿偂鏉冩姇璧勫拰闄勫姞鏀惰喘锛岀幇鏈変笓涓氫汉澹?00鍚嶃€?/p>

璇ュ叕鍙搁珮灞傞潪甯哥湅濂戒腑鍥藉競鍦猴紝鍦ㄤ簹娲茬殑绾?0浜跨編鍏冩姇璧勪腑锛岃繃鍗婃暟浠ヤ笂鎶曞湪涓浗甯傚満鐨勪竷澶ч」鐩笂锛屽叾浣欐姇鍚戜簡鏃ユ湰甯傚満銆?/p>

浣嗘槸璐濇仼璧勬湰鐪熸寮曡捣涓浗姘戜紬鐨勬敞鎰忥紝鏄湪鍏ヨ偂鍥界編鐢靛櫒鍚庛€?009骞?鏈堬紝瀹冧笌鍥界編鐢靛櫒杈炬垚鍏ヨ偂鍗忚鍚庯紝寮€濮嬪ぇ涓惧悜杩欎釜瀹剁數闆跺敭涓氬法澶存笚閫忋€傞殢鍚庣殑鍥界編鐢靛櫒鈥滃唴鎴樷€濓紝姝ｆ槸鐢变簬榛勫厜瑁曟媴蹇冭嚜宸辩殑涓诲鍦颁綅琚礉鎭╄祫鏈拰闄堟檽澶鸿蛋鑰岀垎鍙戠殑銆?/p>

鏍规嵁鑻卞浗閲戣瀺鏃舵姤6鏈堟姤閬擄紝璐濇仼璧勬湰灏嗘姇璧?000涓囩編鍏冿紝Och-Ziff鍜岃吘璁皢鍒嗗埆鎶曡祫5000涓囩編鍏冿紝鏀寔涓俊娉板瘜(Citic Pacific)浠庝腑鍥芥斂搴滄帶鑲＄殑姣嶅叕鍙告墜涓敹璐?70浜跨編鍏冨唴鍦拌祫浜х殑浜ゆ槗銆?/p>

2007骞?鏈堬紝璐濇仼璧勬湰鎼烘墜鍗庝负锛屽甯冨皢浠?2浜跨編鍏冪幇閲戞敹璐?Com銆傛寜鐓у弻鏂圭殑鍚堜綔鍗忚锛屽崕涓哄皢鑾峰緱3Com 16.5锛呯殑鑲′唤锛岃礉鎭╄祫鏈湁闄愬叕鍙稿皢鑾峰緱鍓╀綑鑲′唤銆?Com涓虹編鍥藉浗闃查儴鎻愪緵缃戠粶鍏ヤ镜闃茶寖鎶€鏈€?/p>

2005骞村墠鍚庯紝璐濇仼璧勬湰鏇句笌缇庡浗榛戠煶闆嗗洟鑱旀墜锛屼负娴峰皵闆嗗洟铻嶈祫10浜跨編鍏冿紝绔炶喘缇庡浗鑰佺墝瀹剁數浼佷笟缇庢嘲鍏嬨€傛鍚庯紝瀹冨湪涓浗鍏堝悗鎶曡祫浜嗕互瀹跺眳銆佸缓鏉愮瓑閿€鍞负涓荤殑閲戠洓闆嗗洟鍜屾皯钀ヤ紶濯掑箍鍛婂叕鍙镐腑瑙嗛噾妗ャ€?/p>

涓ゆ闇囨捈鍥戒汉绁炵粡

璐濇仼璧勬湰杩欎釜鍚嶅瓧锛屾浘涓ゆ闇囨捈涓浗浜虹殑绁炵粡銆傜涓€娆℃槸2009骞?鏈?2鏃ワ紝瀹冨甫鐫€16浜垮厓浜烘皯甯侊紝鈥滄嫰鏁戔€濇繏涓寸牬浜х殑鍥界編鐢靛櫒闆嗗洟銆傜浜屾鏄?010骞?鏈?8鏃ワ紝瀹冨湪鍥界編鐢靛櫒鐨勨€滃唴鎴樷€濅腑娓旂縼寰楀埄锛屾垚涓衡€滃敮涓€鐨勮儨鍒╄€呪€濄€?/p>

褰撳勾锛屽浗缇庣數鍣ㄨ懀浜嬩細鐗瑰埆鑲′笢澶т細鍏竷鎶曠エ缁撴灉鏄剧ず锛氶粍鍏夎淇濅綇浜嗗ぇ鑲′笢鐨勪綅缃紝浣嗗皢钁ｄ簨灞€涓诲腑闄堟檽璧朵笅鍙扮殑鐩爣钀界┖锛岃繖涓€缁撴灉鏈夌偣鍑轰汉鎰忔枡銆備絾鏈€鑰愪汉瀵诲懗鐨勬槸锛屸€滈噸閫夎礉鎭╄祫鏈簹娲茶懀浜嬫€荤粡鐞嗙绋间负鍥界編钁ｄ簨鈥濈殑鎻愭锛岃幏寰椾簡楂樿揪94.76%鐨勮禐鎴愩€傝繖琛ㄦ槑锛屽氨杩為粍鍏夎涓€鏂逛篃鍔涙尯杩欎釜鍘熸湰涓庨檲鏅撶珯鍦ㄤ竴璧风殑浜恒€?/p>

鎹幆鐞冧汉鐗╂潅蹇楁姤閬擄紝璐濇仼璧勬湰鐨勭绋煎綋鏃舵病鏈変妇琛屼换浣曞簡绁濇椿鍔紝灏辫繀閫熼鍥炲寳浜紝瀵嗕細鈥滈粍瀹跺綋瀹朵汉鈥濇潨楣冦€備簩浜虹┒绔熻皥浜嗕簺浠€涔堬紝澶栫晫涓嶅緱鑰岀煡銆備絾鍙互鑲畾鐨勬槸锛岃礉鎭╄祫鏈卡鐒跺凡鎴愪负鑳藉乏鍙冲浗缇庣數鍣ㄥ懡杩愮殑閲嶈瑙掕壊銆?/p>

褰撳垵锛岃礉鎭╄祫鏈彧鐢?6浜垮厓浜烘皯甯侊紝灏辫幏寰椾簡鍥界編鐢靛櫒9.98%鐨勮偂鏉冿紱鍥界編鍐呮垬鐖嗗彂鏃跺叾甯傚€间负38.4浜垮厓锛屼娇璐濇仼璧勬湰鐨勬敹鐩婄巼瓒呰繃140%锛佷笉浠呭姝わ紝瀹冭繕鍦?1浜虹殑鍥界編鐢靛櫒钁ｄ簨灞€涓嫢鏈?涓腑浣嶏紝姣旈噸鎺ヨ繎40%銆傝皝閮界煡閬擄紝鎷ユ湁杩欎箞澶х殑璇濊鏉冿紝鍦ㄥ浗缇庣數鍣ㄥ唴閮ㄦ剰鍛崇潃浠€涔堬紒

璐濇仼璧勬湰鎶曡祫鐨勪腑鍥戒紒涓? 2009骞?鏈?2鏃ワ紝璐濇仼璧勬湰甯︾潃16浜垮厓浜烘皯甯侊紝鈥滄嫰鏁戔€濇繏涓寸牬浜х殑鍥界編鐢靛櫒闆嗗洟銆傞殢鍚庯紝璐濇仼璧勬湰灏?8.04浜挎腐鍏冨浗缇庣數鍣ㄥ彲杞崲鍊哄埜鍏ㄩ儴杞偂锛屽叡鎹?6.66浜胯偂锛屽崰鎬昏偂鏈殑9.98%锛屾垚涓哄綋鏃朵粎娆′簬榛勫厜瑁曠殑绗簩澶ц偂涓溿€?010骞?鏈?8鏃ワ紝璐濇仼璧勬湰鍦ㄥ浗缇庣數鍣ㄧ殑鈥滃唴鎴樷€濅腑娓旂縼寰楀埄锛屾垚涓衡€滃敮涓€鐨勮儨鍒╄€呪€濄€?015骞?鏈?2鏃ワ紝璐濇仼璧勬湰涓€涓炬竻绌轰簡鍦ㄥ浗缇庣殑鑲＄エ锛屽鐜扮鍦恒€?