{"id":22129,"date":"2025-09-02T15:20:00","date_gmt":"2025-09-02T13:20:00","guid":{"rendered":"https:\/\/alaindustrialpartners.com\/record-historico-en-plena-crisis-del-ma\/"},"modified":"2025-09-25T15:31:59","modified_gmt":"2025-09-25T13:31:59","slug":"record-historico-en-plena-crisis-del-ma","status":"publish","type":"post","link":"https:\/\/alaindustrialpartners.com\/fr\/record-historico-en-plena-crisis-del-ma\/","title":{"rendered":"Des records\u2026 en plein marasme des fusions-acquisitions"},"content":{"rendered":"\n<p>Alors que le march\u00e9 espagnol des fusions-acquisitions traverse une mauvaise passe, les sept plus grands fonds de capital-investissement espagnols ont pulv\u00e9ris\u00e9 leur record de frais : 262 M\u20ac en 2024.<br\/><br\/>Le moteur ? Pas plus d\u2019op\u00e9rations (bien au contraire), mais une envol\u00e9e des actifs sous gestion, d\u00e9sormais proches de 15,6 Md\u20ac. De quoi permettre aux associ\u00e9s d\u2019empocher environ 75 M\u20ac en salaires et dividendes.  <br\/><br\/>Voici la v\u00e9rit\u00e9 qui d\u00e9range :<br\/>\u2022 Moins d\u2019op\u00e9rations, plus de frais \u2192 un mod\u00e8le qui r\u00e9compense davantage la taille du fonds que la performance d\u2019investissement.<br\/>\u2022 D\u00e9connexion de l\u2019\u00e9conomie r\u00e9elle \u2192 alors que beaucoup d\u2019entreprises peinent \u00e0 se financer, le private equity continue de percevoir son \u00ab p\u00e9age \u00bb fixe.<br\/>\u2022 Incitations mal align\u00e9es \u2192 mesure-t-on les g\u00e9rants \u00e0 l\u2019aune des capitaux qu\u2019ils l\u00e8vent, ou des r\u00e9sultats qu\u2019ils g\u00e9n\u00e8rent ?<br\/><br\/>Le capital-investissement joue un r\u00f4le essentiel dans l\u2019\u00e9cosyst\u00e8me des entreprises, mais ces chiffres le montrent : la r\u00e9ussite du gestionnaire ne rime pas toujours avec celle des soci\u00e9t\u00e9s qu\u2019il accompagne.<br\/><br\/>La vraie question n\u2019est peut-\u00eatre pas \u00ab\u00a0Comment ont-ils battu un record ?\u00a0\u00bb, mais plut\u00f4t \u00ab\u00a0Qui gagne vraiment quand le march\u00e9 ralentit ?\u00a0\u00bb<br\/><br\/><a href=\"https:\/\/www.linkedin.com\/search\/results\/all\/?keywords=%23privateequity&amp;origin=HASH_TAG_FROM_FEED\">hashtag#PrivateEquity<\/a> <a href=\"https:\/\/www.linkedin.com\/search\/results\/all\/?keywords=%23capitalriesgo&amp;origin=HASH_TAG_FROM_FEED\">hashtag#CapitalRiesgo<\/a> <a href=\"https:\/\/www.linkedin.com\/search\/results\/all\/?keywords=%23m&amp;origin=HASH_TAG_FROM_FEED\">hashtag#M<\/a>&amp;A <a href=\"https:\/\/www.linkedin.com\/search\/results\/all\/?keywords=%23inversiones&amp;origin=HASH_TAG_FROM_FEED\">hashtag#Inversiones<\/a> <a href=\"https:\/\/www.linkedin.com\/search\/results\/all\/?keywords=%23espa%C3%B1a&amp;origin=HASH_TAG_FROM_FEED\">hashtag#Espa\u00f1a<\/a> <a href=\"https:\/\/www.linkedin.com\/search\/results\/all\/?keywords=%23finanzas&amp;origin=HASH_TAG_FROM_FEED\">hashtag#Finanzas<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alors que le march\u00e9 espagnol des fusions-acquisitions traverse une mauvaise passe, les sept plus grands fonds de capital-investissement espagnols ont pulv\u00e9ris\u00e9 leur record de frais : 262 M\u20ac en 2024.&hellip;<\/p>\n","protected":false},"author":1,"featured_media":22125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[264],"tags":[],"class_list":["post-22129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-perspectives"],"_links":{"self":[{"href":"https:\/\/alaindustrialpartners.com\/fr\/wp-json\/wp\/v2\/posts\/22129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alaindustrialpartners.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alaindustrialpartners.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alaindustrialpartners.com\/fr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/alaindustrialpartners.com\/fr\/wp-json\/wp\/v2\/comments?post=22129"}],"version-history":[{"count":2,"href":"https:\/\/alaindustrialpartners.com\/fr\/wp-json\/wp\/v2\/posts\/22129\/revisions"}],"predecessor-version":[{"id":22134,"href":"https:\/\/alaindustrialpartners.com\/fr\/wp-json\/wp\/v2\/posts\/22129\/revisions\/22134"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alaindustrialpartners.com\/fr\/wp-json\/wp\/v2\/media\/22125"}],"wp:attachment":[{"href":"https:\/\/alaindustrialpartners.com\/fr\/wp-json\/wp\/v2\/media?parent=22129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alaindustrialpartners.com\/fr\/wp-json\/wp\/v2\/categories?post=22129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alaindustrialpartners.com\/fr\/wp-json\/wp\/v2\/tags?post=22129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}