【英文】2024年全球私募股权市场报告（60页）

As difcult as it was, the aftermath of the GFC followed a predictable pattern: To cope with the crisis,  central bankers slashed interest rates to spur activity, the economy slowly stabilized, and private  equity was able to claw its way back from what many predicted would be its unraveling. The resulting  period of growth in the years that followed created a private equity industry that is vastly larger and  more complex than anyone in 2008 could have reasonably expected.  Yet today that size and complexity magnify the challenges the industry faces. Business conditions  are more perplexing than predictable. Interest rates have risen faster than at any time since the 1980s,  and it remains unclear when the US Federal Reserve will reverse course or where rates will eventually  settle (see Figure 2). Concerns about what we dubbed last year “the most anticipated recession in  history that hasn’t happened yet” continue to linger. Yet to the surprise of most analysts, the economy  is chugging along nicely. Record-low unemployment, reasonable growth, and surging public markets  in the US suggest the possibility that we might just escape these months of turmoil with nothing  worse than a soft landing.