私募股权和对冲基金是另类投资最主要的两类资产类别。过去,两类基金很少有共同点,在投资策略、交易结构等方面存在明显的差异。但在最近,两类资产类别出现聚合现象。本文对私募股权、对冲基金的特征以及两类资产的聚合现象及原因进行了深入的探讨。 Private equity and hedge funds are two of the most important types of alternative investments. In the past, there was little in common between the two types of funds and there were notable differences in terms of investment strategy and transaction structure. Recently, however, two types of asset classes have converged. In this paper, the characteristics of private equity, hedge funds and the aggregation of two types of assets and the reasons for an in-depth discussion.