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132****5171 · 2025年03月20日

没有看明白题目的意思

NO.PZ2025012207000020

问题如下:

After a meeting with the representatives of a pension fund, a potential new limited partner, ABC Private Equity Fund, decided to divest from a profitable utility company that has a policy enforcing a mandatory 65-year-age retirement. The fund’s divestment decision is most likely to seek:

选项:

A.value creation for the managed portfolio of funds. B.a differentiating factor in attracting clients conscious of age discrimination. C.to manage risks that could impact the financial performance of its portfolio companies.

解释:

B is correct. With this decision, ABC Private Equity Fund is most likely to differentiate itself from private equity funds that are agnostic to age discrimination. Some investors see ESG integration as a way to differentiate themselves and attract capital from the growing pool of ESG-conscious capital allocators, such as pension funds, sovereign wealth funds, and family offices. So, they include ESG factors prominently in their investment approach and reporting to appeal to these limited partners.

看到题干中说divest from,理解为该公司认为有风险所以分离开,选了risk management

1 个答案

净净_品职助教 · 2025年03月20日

嗨,从没放弃的小努力你好:


同学的理解很合理,但这里的关键点是 divestment(撤资)的主要动机

题干信息提到ABC Private Equity Fund 是一家私募股权基金,正在与养老基金(pension fund)代表会面。养老基金是潜在的新 LP(有限合伙人),通常对 ESG 议题(例如年龄歧视)较为关注。ABC 选择撤资(divest)一家盈利的公用事业公司,原因是该公司强制 65 岁退休的政策可能涉及年龄歧视。

C. 风险管理

  • 如果这家公司存在重大财务或法律风险(例如因年龄歧视被起诉),撤资可能属于风险管理范畴
  • 但题干并未提及财务或法律上的直接风险,而是暗示 ESG 立场可能会影响 ABC 争取养老基金客户。养老基金关注 ESG,因此 ABC 可能是在为了吸引这类客户,而非出于风险管理考虑进行撤资。


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