2012全球私募股权市场报告（安永）.pdf

Global private equity watch Striving for growth — a return to entrepreneurship 2012 Contents 2 Driving an entrepreneurial spirit 4 The behaviors around the core 4 Drive, tenacity and persistence 5 Seek out niches and market gaps 8 Africa 10 Build an ecosystem of finance, people and know-how 11 The sector view: Oil and gas, Health care, Technology 13 Live what you believe: build success culture and values 13 Nonconformist and a team player 14 Architect of your own vision: passionate and focused 16 2011 Private equity year in review 18 Activity reduces as economic and credit conditions deteriorate 21 Strong exit activity for most of 2011 22 Fund-raising remains a challenge but the best firms attract capital 26 Emerging markets 30 China 32 India 34 Latin America 36 Key contacts 3Global private equity watch: striving for growth — a return to entrepreneurship Striving for growth — a return to entrepreneurship Passion. Persistence. Opportunity. ... Value creation. Business transformation. A new paradigm of “entrepreneurship” seems to be emerging. And private equity (PE) firms are part of the force driving that change. Although entrepreneurs operate across a highly diverse range of sectors and regions of the world, we have found that they share a number of common behaviors and characteristics. Subsequent research conducted by Ernst Young, which included a survey of 685 entrepreneurs and in-depth interviews with winners of the Ernst Young ® Entrepreneur Of The Year program, has helped us formalize our view into a solid model of the makeup of the entrepreneur. Looking back at the PE industry over the last decade, we would argue that the firms thriving today are those that have embraced the entrepreneurial culture and have evolved to thrive in a new world order.