| 摘要: |
| 随着金融业的发展演变和多元化金融需求的不断增加，另类投资逐渐登上历史舞台。国际另类投资机构对金融市场和实体经济的影响力不断增强，在不良资产、房地产、另类信贷等领域，形成了不同的业务模式，其发展及投资经验值得借鉴。黑石集团是国际上最重要的另类投资机构之一，在并购重组、房地产投资、企业运营等方面具有较强竞争优势。本文通过介绍黑石集团运输之星、EOP及希尔顿全球酒店三个收购案例，探索其在并购重组方面的重要经验，表明改善被收购企业经营状况，完成管理性重组以提升企业价值是现代企业重组的最重要方向。 |
| 关键词: 另类投资；黑石集团；房地产；并购；价值提升 |
| DOI： |
| 分类号:F831.2 |
| 基金项目: |
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| Primary Business Modes and M&A Practices of International Alternative Investment Organizations:Based on Analysis of Blackstone Group’s M&A Cases |
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WEI Li-ying
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China Cinda Asset Management Co..Ltd
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| Abstract: |
| With the development of finance and the increasing demand of diversification. alternative investment organizations appear on the scene.The influence of international alternative investment organizations in financial market and the real economy is consistently enhanced.and they have different business modes in NPA.real estate and alternative credit.their development and investing experience is worth learning.Blackstone Group is one of the most important alternative investment organizations in the world.and it has relatively competitive advantages in M&A.real estate investment and enterprise operation.Using Transtar.EOP and Hilton Worldwide cases.this paper introduces Blackstone Group’s experience of M&A indicates that improving operation state of required enterprises and complement the manageability recombination to enhance enterprises’ value is the most important direction of modern enterprise recombination. |
| Key words: Alternative Investment；Blackstone Group；Real Estate；M&A；Value Enhancement |
