{"id":96268,"date":"2026-01-10T09:39:12","date_gmt":"2026-01-10T00:39:12","guid":{"rendered":"https:\/\/www.marketresearch.co.jp\/insights\/private-credit-market-mordor\/"},"modified":"2026-10-27T18:24:46","modified_gmt":"2026-10-27T09:24:46","slug":"private-credit-market-mordor","status":"publish","type":"post","link":"https:\/\/www.marketresearch.co.jp\/insights\/private-credit-market-mordor\/","title":{"rendered":"\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30af\u30ec\u30b8\u30c3\u30c8\u5e02\u5834\uff1a\u898f\u6a21\u30fb\u30b7\u30a7\u30a2\u5206\u6790\u3001\u6210\u9577\u52d5\u5411\u3068\u4e88\u6e2c (2025\u5e74\uff5e2030\u5e74)"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.marketresearch.co.jp\/insights\/wp-content\/uploads\/2026\/01\/private-credit-market-1733392229311-PC-MP.webp\" alt=\"Chart\" class=\"aligncenter size-full\" \/><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.marketresearch.co.jp\/insights\/wp-content\/uploads\/2026\/01\/private-credit-market-size-image-1746023834478.webp\" alt=\"Chart\" class=\"aligncenter size-full\" \/><\/p>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-0\">1. \u306f\u3058\u3081\u306b<\/p>\n<ul>\n<li class=\"toc-level-2\">1.1 \u8abf\u67fb\u306e\u524d\u63d0\u3068\u5e02\u5834\u306e\u5b9a\u7fa9<\/li>\n<li class=\"toc-level-2\">1.2 \u8abf\u67fb\u7bc4\u56f2<\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-1\">2. \u8abf\u67fb\u65b9\u6cd5<\/p>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-2\">3. \u30a8\u30b0\u30bc\u30af\u30c6\u30a3\u30d6\u30b5\u30de\u30ea\u30fc<\/p>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-3\">4. \u5e02\u5834\u306e\u30c0\u30a4\u30ca\u30df\u30af\u30b9<\/p>\n<ul>\n<li class=\"toc-level-2\">4.1 \u5e02\u5834\u6982\u8981<\/li>\n<li class=\"toc-level-2\">4.2 \u5e02\u5834\u306e\u63a8\u9032\u8981\u56e0\n<ul>\n<li class=\"toc-level-3\">4.2.1 \u898f\u5236\u4e0a\u306e\u5236\u7d04\u306b\u3088\u308b\u9280\u884c\u878d\u8cc7\u306e\u6e1b\u5c11\u304c\u5e02\u5834\u3092\u727d\u5f15<\/li>\n<li class=\"toc-level-3\">4.2.2 \u30ab\u30b9\u30bf\u30de\u30a4\u30ba\u3055\u308c\u305f\u9069\u5fdc\u578b\u878d\u8cc7\u3078\u306e\u9700\u8981\u306e\u6025\u5897\u304c\u5e02\u5834\u6210\u9577\u3092\u4fc3\u9032<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">4.3 \u5e02\u5834\u306e\u963b\u5bb3\u8981\u56e0\n<ul>\n<li class=\"toc-level-3\">4.3.1 \u7af6\u4e89\u306e\u6fc0\u5316\u304c\u5e02\u5834\u3092\u6291\u5236<\/li>\n<li class=\"toc-level-3\">4.3.2 \u30a4\u30f3\u30d5\u30ec\u3001\u91d1\u5229\u4e0a\u6607\u3001\u5dee\u3057\u8feb\u3063\u305f\u666f\u6c17\u6e1b\u901f\u306b\u3088\u308a\u3001\u50b5\u52d9\u4e0d\u5c65\u884c\u304c\u5897\u52a0\u3057\u3001\u30ea\u30bf\u30fc\u30f3\u306b\u5f71\u97ff\u304c\u51fa\u308b\u53ef\u80fd\u6027<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">4.4 \u5e02\u5834\u6a5f\u4f1a\n<ul>\n<li class=\"toc-level-3\">4.4.1 \u56fd\u5883\u3092\u8d8a\u3048\u305f\u878d\u8cc7\u304c\u65b0\u305f\u306a\u9053\u3092\u958b\u304f<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">4.5 \u30dd\u30fc\u30bf\u30fc\u306e5\u3064\u306e\u529b\u5206\u6790\n<ul>\n<li class=\"toc-level-3\">4.5.1 \u65b0\u898f\u53c2\u5165\u8005\u306e\u8105\u5a01<\/li>\n<li class=\"toc-level-3\">4.5.2 \u8cb7\u3044\u624b\/\u6d88\u8cbb\u8005\u306e\u4ea4\u6e09\u529b<\/li>\n<li class=\"toc-level-3\">4.5.3 \u4f9b\u7d66\u8005\u306e\u4ea4\u6e09\u529b<\/li>\n<li class=\"toc-level-3\">4.5.4 \u4ee3\u66ff\u54c1\u306e\u8105\u5a01<\/li>\n<li class=\"toc-level-3\">4.5.5 \u7af6\u4e89\u306e\u6fc0\u3057\u3055<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">4.6 \u5e02\u5834\u306b\u304a\u3051\u308b\u6280\u8853\u9769\u65b0\u306b\u95a2\u3059\u308b\u6d1e\u5bdf<\/li>\n<li class=\"toc-level-2\">4.7 \u5e02\u5834\u306e\u898f\u5236\u67a0\u7d44\u307f\u306b\u95a2\u3059\u308b\u6d1e\u5bdf<\/li>\n<li class=\"toc-level-2\">4.8 \u5e02\u5834\u306b\u304a\u3051\u308bCovid-19\u306e\u5f71\u97ff<\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-4\">5. \u5e02\u5834\u30bb\u30b0\u30e1\u30f3\u30c6\u30fc\u30b7\u30e7\u30f3<\/p>\n<ul>\n<li class=\"toc-level-2\">5.1 \u7528\u9014\u5225\n<ul>\n<li class=\"toc-level-3\">5.1.1 \u76f4\u63a5\u878d\u8cc7<\/li>\n<li class=\"toc-level-3\">5.1.2 \u30e1\u30b6\u30cb\u30f3\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9<\/li>\n<li class=\"toc-level-3\">5.1.3 \u4e0d\u826f\u50b5\u6a29<\/li>\n<li class=\"toc-level-3\">5.1.4 \u30b9\u30da\u30b7\u30e3\u30eb\u30c6\u30a3\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">5.2 \u30a8\u30f3\u30c9\u30e6\u30fc\u30b6\u30fc\u5225\n<ul>\n<li class=\"toc-level-3\">5.2.1 \u4e2d\u5c0f\u4f01\u696d (SMEs)<\/li>\n<li class=\"toc-level-3\">5.2.2 \u5927\u4f01\u696d<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">5.3 \u5730\u57df\u5225\n<ul>\n<li class=\"toc-level-3\">5.3.1 \u5317\u7c73<\/li>\n<li class=\"toc-level-4\">5.3.1.1 \u7c73\u56fd<\/li>\n<li class=\"toc-level-4\">5.3.1.2 \u30ab\u30ca\u30c0<\/li>\n<li class=\"toc-level-4\">5.3.1.3 \u30e1\u30ad\u30b7\u30b3<\/li>\n<li class=\"toc-level-4\">5.3.1.4 \u305d\u306e\u4ed6\u306e\u5317\u7c73\u5730\u57df<\/li>\n<li class=\"toc-level-3\">5.3.2 \u30e8\u30fc\u30ed\u30c3\u30d1<\/li>\n<li class=\"toc-level-4\">5.3.2.1 \u30c9\u30a4\u30c4<\/li>\n<li class=\"toc-level-4\">5.3.2.2 \u82f1\u56fd<\/li>\n<li class=\"toc-level-4\">5.3.2.3 \u30d5\u30e9\u30f3\u30b9<\/li>\n<li class=\"toc-level-4\">5.3.2.4 \u30ed\u30b7\u30a2<\/li>\n<li class=\"toc-level-4\">5.3.2.5 \u30b9\u30da\u30a4\u30f3<\/li>\n<li class=\"toc-level-4\">5.3.2.6 \u305d\u306e\u4ed6\u306e\u30e8\u30fc\u30ed\u30c3\u30d1\u5730\u57df<\/li>\n<li class=\"toc-level-3\">5.3.3 \u30a2\u30b8\u30a2\u592a\u5e73\u6d0b<\/li>\n<li class=\"toc-level-4\">5.3.3.1 \u30a4\u30f3\u30c9<\/li>\n<li class=\"toc-level-4\">5.3.3.2 \u4e2d\u56fd<\/li>\n<li class=\"toc-level-4\">5.3.3.3 \u65e5\u672c<\/li>\n<li class=\"toc-level-4\">5.3.3.4 \u305d\u306e\u4ed6\u306e\u30a2\u30b8\u30a2\u592a\u5e73\u6d0b\u5730\u57df<\/li>\n<li class=\"toc-level-3\">5.3.4 \u5357\u7c73<\/li>\n<li class=\"toc-level-4\">5.3.4.1 \u30d6\u30e9\u30b8\u30eb<\/li>\n<li class=\"toc-level-4\">5.3.4.2 \u30a2\u30eb\u30bc\u30f3\u30c1\u30f3<\/li>\n<li class=\"toc-level-4\">5.3.4.3 \u305d\u306e\u4ed6\u306e\u5357\u7c73\u5730\u57df<\/li>\n<li class=\"toc-level-3\">5.3.5 \u4e2d\u6771<\/li>\n<li class=\"toc-level-4\">5.3.5.1 \u30a2\u30e9\u30d6\u9996\u9577\u56fd\u9023\u90a6<\/li>\n<li class=\"toc-level-4\">5.3.5.2 \u30b5\u30a6\u30b8\u30a2\u30e9\u30d3\u30a2<\/li>\n<li class=\"toc-level-4\">5.3.5.3 \u305d\u306e\u4ed6\u306e\u4e2d\u6771\u5730\u57df<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-5\">6. \u7af6\u4e89\u74b0\u5883<\/p>\n<ul>\n<li class=\"toc-level-2\">6.1 \u5e02\u5834\u96c6\u4e2d\u5ea6<\/li>\n<li class=\"toc-level-2\">6.2 \u4f01\u696d\u30d7\u30ed\u30d5\u30a1\u30a4\u30eb\n<ul>\n<li class=\"toc-level-3\">6.2.1 \u30a2\u30ec\u30b9\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8<\/li>\n<li class=\"toc-level-3\">6.2.2 \u30d6\u30e9\u30c3\u30af\u30b9\u30c8\u30fc\u30f3<\/li>\n<li class=\"toc-level-3\">6.2.3 \u30b4\u30fc\u30eb\u30c9\u30de\u30f3\u30fb\u30b5\u30c3\u30af\u30b9\u30fb\u30a2\u30bb\u30c3\u30c8\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8<\/li>\n<li class=\"toc-level-3\">6.2.4 HPS\u30a4\u30f3\u30d9\u30b9\u30c8\u30e1\u30f3\u30c8\u30fb\u30d1\u30fc\u30c8\u30ca\u30fc\u30ba<\/li>\n<li class=\"toc-level-3\">6.2.5 \u30a2\u30dd\u30ed\u30fb\u30b0\u30ed\u30fc\u30d0\u30eb\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8<\/li>\n<li class=\"toc-level-3\">6.2.6 \u30a4\u30f3\u30bf\u30fc\u30df\u30c7\u30a3\u30a8\u30a4\u30c8\u30fb\u30ad\u30e3\u30d4\u30bf\u30eb\u30fb\u30b0\u30eb\u30fc\u30d7<\/li>\n<li class=\"toc-level-3\">6.2.7 \u30aa\u30fc\u30af\u30c4\u30ea\u30fc\u30fb\u30ad\u30e3\u30d4\u30bf\u30eb\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8<\/li>\n<li class=\"toc-level-3\">6.2.8 \u30d9\u30a2\u30ea\u30f3\u30b0\u30b9<\/li>\n<li class=\"toc-level-3\">6.2.9 \u30d6\u30e9\u30c3\u30af\u30ed\u30c3\u30af<\/li>\n<li class=\"toc-level-3\">6.2.10 \u30a2\u30af\u30b5IM\u30a2\u30eb\u30c4*<\/li>\n<\/ul>\n<\/li>\n<li><strong>*\u30ea\u30b9\u30c8\u306f\u7db2\u7f85\u7684\u3067\u306f\u3042\u308a\u307e\u305b\u3093<\/strong><\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-6\">7. \u5e02\u5834\u306e\u5c06\u6765\u52d5\u5411<\/p>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-7\">8. \u514d\u8cac\u4e8b\u9805\u3068\u4f1a\u793e\u6982\u8981<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30af\u30ec\u30b8\u30c3\u30c8\u5e02\u5834\u306b\u95a2\u3059\u308b\u672c\u30ec\u30dd\u30fc\u30c8\u306f\u30012030\u5e74\u307e\u3067\u306e\u5e02\u5834\u898f\u6a21\u3068\u30b7\u30a7\u30a2\u306e\u898b\u901a\u3057\u3092\u63d0\u4f9b\u3057\u3066\u3044\u307e\u3059\u3002\u5e02\u5834\u306f\u3001\u8cc7\u91d1\u8abf\u9054\u306e\u7a2e\u985e\uff08\u76f4\u63a5\u878d\u8cc7\u3001\u30e1\u30b6\u30cb\u30f3\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3001\u4e0d\u826f\u50b5\u6a29\u3001\u7279\u6b8a\u91d1\u878d\uff09\u3001\u30a8\u30f3\u30c9\u30e6\u30fc\u30b6\u30fc\uff08\u4e2d\u5c0f\u4f01\u696d\uff08SME\uff09\u3001\u5927\u4f01\u696d\uff09\u3001\u304a\u3088\u3073\u5730\u57df\uff08\u5317\u7c73\u3001\u5357\u7c73\u3001\u30e8\u30fc\u30ed\u30c3\u30d1\u3001\u30a2\u30b8\u30a2\u592a\u5e73\u6d0b\u3001\u4e2d\u6771\u30fb\u30a2\u30d5\u30ea\u30ab\uff09\u306b\u5206\u985e\u3055\u308c\u3001\u5404\u30bb\u30b0\u30e1\u30f3\u30c8\u306e\u5e02\u5834\u898f\u6a21\u3068\u4e88\u6e2c\u304c\u7c73\u30c9\u30eb\uff08USD\uff09\u3067\u793a\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u5e02\u5834\u6982\u8981<br \/>\n\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30af\u30ec\u30b8\u30c3\u30c8\u5e02\u5834\u306f\u30012025\u5e74\u306b\u306f1.67\u5146\u7c73\u30c9\u30eb\u3068\u63a8\u5b9a\u3055\u308c\u30012030\u5e74\u307e\u3067\u306b2.9\u5146\u7c73\u30c9\u30eb\u306b\u9054\u3059\u308b\u3068\u4e88\u6e2c\u3055\u308c\u3066\u304a\u308a\u3001\u4e88\u6e2c\u671f\u9593\uff082025\u5e74\uff5e2030\u5e74\uff09\u306b\u304a\u3051\u308b\u5e74\u5e73\u5747\u6210\u9577\u7387\uff08CAGR\uff09\u306f11.62%\u3067\u3059\u3002\u6700\u3082\u6025\u901f\u306b\u6210\u9577\u3057\u3066\u3044\u308b\u5e02\u5834\u306f\u30a2\u30b8\u30a2\u592a\u5e73\u6d0b\u5730\u57df\u3067\u3042\u308a\u3001\u6700\u5927\u306e\u5e02\u5834\u306f\u5317\u7c73\u3067\u3059\u3002\u5e02\u5834\u306e\u96c6\u4e2d\u5ea6\u306f\u9ad8\u304f\u3001\u4e3b\u8981\u306a\u30d7\u30ec\u30fc\u30e4\u30fc\u306b\u306fAres Management\u3001Blackstone\u3001Goldman Sachs Asset Management\u3001HPS Investment Partners\u3001Apollo Global Management\u306a\u3069\u304c\u6319\u3052\u3089\u308c\u307e\u3059\u3002<\/p>\n<p>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30af\u30ec\u30b8\u30c3\u30c8\u5e02\u5834\u306e\u5206\u6790<br 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\/>\n\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30af\u30ec\u30b8\u30c3\u30c8\u5e02\u5834\u3067\u306f\u7d71\u5408\u306e\u50be\u5411\u304c\u898b\u3089\u308c\u3001\u5c11\u6570\u306e\u5927\u624b\u30d5\u30a1\u30f3\u30c9\u304c\u6210\u9577\u306e\u5927\u90e8\u5206\u3092\u5360\u3081\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u3001\u4ee5\u524d\u306e\u7d30\u5206\u5316\u3055\u308c\u305f\u72b6\u6cc1\u304b\u3089\u306e\u5909\u5316\u3092\u793a\u3057\u3066\u304a\u308a\u3001\u5c0f\u898f\u6a21\u30d5\u30a1\u30f3\u30c9\u306f\u7af6\u4e89\u304c\u307e\u3059\u307e\u3059\u56f0\u96e3\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u6a5f\u95a2\u6295\u8cc7\u5bb6\u3084\u9280\u884c\u306e\u95a2\u4e0e\u306e\u5897\u52a0\u304c\u3001\u7af6\u4e89\u306e\u6fc0\u5316\u3092\u717d\u3063\u3066\u3044\u307e\u3059\u3002\u30d7\u30ec\u30fc\u30e4\u30fc\u304c\u30b0\u30ed\u30fc\u30d0\u30eb\u5e02\u5834\u30b7\u30a7\u30a2\u3092\u7dad\u6301\u3059\u308b\u305f\u3081\u306b\u63a1\u7528\u3059\u308b\u4e3b\u8981\u306a\u6226\u7565\u306b\u306f\u3001\u5408\u4f75\u30fb\u8cb7\u53ce\uff08M&#038;A\uff09\u304c\u542b\u307e\u308c\u307e\u3059\u3002\u3053\u306e\u5206\u91ce\u306e\u8457\u540d\u306a\u30d7\u30ec\u30fc\u30e4\u30fc\u306b\u306f\u3001Ares Management\u3001Blackstone\u3001Goldman Sachs Asset Management\u3001HPS Investment Partners\u3001Apollo Global Management\u306a\u3069\u304c\u542b\u307e\u308c\u307e\u3059\u3002<\/p>\n<p>\u6700\u8fd1\u306e\u696d\u754c\u52d5\u5411<br \/>\n*   2024\u5e745\u6708: \u7c73\u56fd\u306e\u591a\u89d2\u7684\u306a\u91d1\u878d\u6a5f\u95a2\u3067\u3042\u308bPNC Financial Services Group, Inc.\u306f\u3001\u4e16\u754c\u7684\u306a\u8cc7\u7523\u904b\u7528\u4f1a\u793e\u3067\u3042\u308bTCW Group, Inc.\uff08\u300cTCW\u300d\uff09\u3068\u63d0\u643a\u3057\u3001\u30df\u30c9\u30eb\u30de\u30fc\u30b1\u30c3\u30c8\u4f01\u696d\u5411\u3051\u306b\u30ab\u30b9\u30bf\u30de\u30a4\u30ba\u3055\u308c\u305f\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30af\u30ec\u30b8\u30c3\u30c8\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u3092\u63d0\u4f9b\u3059\u308b\u3053\u3068\u3092\u767a\u8868\u3057\u307e\u3057\u305f\u3002<br \/>\n*   2024\u5e742\u6708: Goldman Sachs\u306f\u3001\u8457\u540d\u306a\u30b0\u30ed\u30fc\u30d0\u30eb\u30bd\u30d6\u30ea\u30f3\u6295\u8cc7\u5bb6\u3067\u3042\u308bMubadala Investment Company\uff08\u300cMubadala\u300d\uff09\u3068\u63d0\u643a\u3057\u3001\u30a2\u30b8\u30a2\u592a\u5e73\u6d0b\u5730\u57df\u306b\u304a\u3051\u308b\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30af\u30ec\u30b8\u30c3\u30c8\u6a5f\u4f1a\u3092\u5171\u540c\u3067\u8ffd\u6c42\u3059\u308b\u305f\u3081\u306e10\u5104\u7c73\u30c9\u30eb\u306e\u500b\u5225\u7ba1\u7406\u53e3\u5ea7\u3092\u8a2d\u7acb\u3057\u307e\u3057\u305f\u3002<\/p>\n<p>\u672c\u30ec\u30dd\u30fc\u30c8\u306f\u3001\u4e3b\u306b\u975e\u6295\u8cc7\u9069\u683c\u306e\u4e2d\u5c0f\u4f01\u696d\uff08SME\uff09\u306b\u5bfe\u3057\u3001\u9280\u884c\u4ee5\u5916\u306e\u8cb8\u3057\u624b\u304c\u878d\u8cc7\u3092\u884c\u3046\u300c\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30af\u30ec\u30b8\u30c3\u30c8\u5e02\u5834\u300d\u306b\u95a2\u3059\u308b\u5305\u62ec\u7684\u306a\u5206\u6790\u3092\u63d0\u4f9b\u3057\u3066\u3044\u307e\u3059\u3002\u5e02\u5834\u306e\u52d5\u5411\u3001\u69d8\u3005\u306a\u30bb\u30b0\u30e1\u30f3\u30c8\u3084\u5730\u57df\u306b\u304a\u3051\u308b\u65b0\u305f\u306a\u30c8\u30ec\u30f3\u30c9\u3001\u88fd\u54c1\u30fb\u30a2\u30d7\u30ea\u30b1\u30fc\u30b7\u30e7\u30f3\u30bf\u30a4\u30d7\u3001\u4e3b\u8981\u30d7\u30ec\u30a4\u30e4\u30fc\u3001\u304a\u3088\u3073\u7af6\u4e89\u74b0\u5883\u306b\u3064\u3044\u3066\u8a73\u7d30\u306b\u8abf\u67fb\u3057\u3001\u5e02\u5834\u306e\u5168\u4f53\u50cf\u3092\u660e\u3089\u304b\u306b\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>1. \u5e02\u5834\u898f\u6a21\u3068\u4e88\u6e2c<br \/>\n\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30af\u30ec\u30b8\u30c3\u30c8\u5e02\u5834\u306f\u30012024\u5e74\u306b\u306f1.48\u5146\u7c73\u30c9\u30eb\u3068\u63a8\u5b9a\u3055\u308c\u3066\u3044\u307e\u3059\u30022025\u5e74\u306b\u306f1.67\u5146\u7c73\u30c9\u30eb\u306b\u9054\u3059\u308b\u3068\u898b\u8fbc\u307e\u308c\u3066\u304a\u308a\u30012025\u5e74\u304b\u30892030\u5e74\u306b\u304b\u3051\u3066\u5e74\u5e73\u5747\u6210\u9577\u7387\uff08CAGR\uff0911.62%\u3067\u529b\u5f37\u304f\u6210\u9577\u3057\u30012030\u5e74\u306b\u306f2.9\u5146\u7c73\u30c9\u30eb\u306b\u9054\u3059\u308b\u3068\u4e88\u6e2c\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u672c\u30ec\u30dd\u30fc\u30c8\u3067\u306f\u30012019\u5e74\u304b\u30892024\u5e74\u307e\u3067\u306e\u904e\u53bb\u306e\u5e02\u5834\u898f\u6a21\u30c7\u30fc\u30bf\u3068\u30012025\u5e74\u304b\u30892030\u5e74\u307e\u3067\u306e\u8a73\u7d30\u306a\u4e88\u6e2c\u3092\u63d0\u4f9b\u3057\u3001\u5e02\u5834\u306e\u6210\u9577\u8ecc\u8de1\u3092\u660e\u78ba\u306b\u793a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>2. \u5e02\u5834\u306e\u30c0\u30a4\u30ca\u30df\u30af\u30b9<br \/>\n*   \u5e02\u5834\u306e\u63a8\u9032\u8981\u56e0:<br \/>\n    *   \u91d1\u878d\u898f\u5236\u306e\u5f37\u5316\u306b\u3088\u308a\u3001\u9280\u884c\u306b\u3088\u308b\u878d\u8cc7\u304c\u6e1b\u5c11\u50be\u5411\u306b\u3042\u308b\u3053\u3068\u304c\u3001\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30af\u30ec\u30b8\u30c3\u30c8\u5e02\u5834\u306e\u62e1\u5927\u3092\u5f37\u304f\u5f8c\u62bc\u3057\u3057\u3066\u3044\u307e\u3059\u3002<br \/>\n    *   \u4f01\u696d\u304c\u6c42\u3081\u308b\u30ab\u30b9\u30bf\u30de\u30a4\u30ba\u3055\u308c\u305f\u3001\u3088\u308a\u67d4\u8edf\u306a\u8cc7\u91d1\u8abf\u9054\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u3078\u306e\u9700\u8981\u304c\u6025\u5897\u3057\u3066\u3044\u308b\u3053\u3068\u3082\u3001\u5e02\u5834\u6210\u9577\u3092\u4fc3\u9032\u3059\u308b\u4e3b\u8981\u306a\u8981\u56e0\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002<br \/>\n*   \u5e02\u5834\u306e\u963b\u5bb3\u8981\u56e0:<br \/>\n    *   \u5e02\u5834\u3078\u306e\u65b0\u898f\u53c2\u5165\u304c\u5897\u3048\u3001\u7af6\u4e89\u304c\u6fc0\u5316\u3057\u3066\u3044\u308b\u3053\u3068\u304c\u3001\u5e02\u5834\u306e\u6210\u9577\u3092\u6291\u5236\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<br \/>\n    *   \u4e16\u754c\u7684\u306a\u30a4\u30f3\u30d5\u30ec\u306e\u9032\u884c\u3001\u305d\u308c\u306b\u4f34\u3046\u91d1\u5229\u306e\u4e0a\u6607\u3001\u305d\u3057\u3066\u5dee\u3057\u8feb\u3063\u305f\u666f\u6c17\u6e1b\u901f\u306e\u61f8\u5ff5\u306f\u3001\u50b5\u52d9\u4e0d\u5c65\u884c\u306e\u30ea\u30b9\u30af\u3092\u9ad8\u3081\u3001\u6295\u8cc7\u30ea\u30bf\u30fc\u30f3\u306b\u60aa\u5f71\u97ff\u3092\u53ca\u307c\u3059\u53ef\u80fd\u6027\u304c\u6307\u6458\u3055\u308c\u3066\u3044\u307e\u3059\u3002<br \/>\n*   \u5e02\u5834\u6a5f\u4f1a:<br \/>\n    *   \u56fd\u5883\u3092\u8d8a\u3048\u305f\u30af\u30ed\u30b9\u30dc\u30fc\u30c0\u30fc\u878d\u8cc7\u306e\u6a5f\u4f1a\u304c\u62e1\u5927\u3057\u3066\u304a\u308a\u3001\u3053\u308c\u304c\u5e02\u5834\u306b\u65b0\u305f\u306a\u6210\u9577\u306e\u9053\u7b4b\u3092\u3082\u305f\u3089\u3059\u3068\u898b\u3089\u308c\u3066\u3044\u307e\u3059\u3002<br \/>\n*   \u305d\u306e\u4ed6\u306e\u5206\u6790:<br \/>\n    *   \u672c\u30ec\u30dd\u30fc\u30c8\u3067\u306f\u3001\u30dd\u30fc\u30bf\u30fc\u306e5\u30d5\u30a9\u30fc\u30b9\u5206\u6790\uff08\u65b0\u898f\u53c2\u5165\u306e\u8105\u5a01\u3001\u8cb7\u3044\u624b\u306e\u4ea4\u6e09\u529b\u3001\u30b5\u30d7\u30e9\u30a4\u30e4\u30fc\u306e\u4ea4\u6e09\u529b\u3001\u4ee3\u66ff\u54c1\u306e\u8105\u5a01\u3001\u7af6\u4e89\u306e\u6fc0\u3057\u3055\uff09\u3092\u901a\u3058\u3066\u3001\u5e02\u5834\u306e\u7af6\u4e89\u69cb\u9020\u304c\u8a73\u7d30\u306b\u5206\u6790\u3055\u308c\u3066\u3044\u307e\u3059\u3002<br \/>\n    *   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2025\u5e74\u306b\u306f\u3001\u5317\u7c73\u5730\u57df\u304c\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30af\u30ec\u30b8\u30c3\u30c8\u5e02\u5834\u306b\u304a\u3044\u3066\u6700\u3082\u5927\u304d\u306a\u5e02\u5834\u30b7\u30a7\u30a2\u3092\u5360\u3081\u308b\u3068\u4e88\u6e2c\u3055\u308c\u3066\u3044\u307e\u3059\u3002<br \/>\n    *   \u4e00\u65b9\u3001\u4e88\u6e2c\u671f\u9593\uff082025-2030\u5e74\uff09\u306b\u304a\u3044\u3066\u306f\u3001\u30a2\u30b8\u30a2\u592a\u5e73\u6d0b\u5730\u57df\u304c\u6700\u3082\u9ad8\u3044\u5e74\u5e73\u5747\u6210\u9577\u7387\uff08CAGR\uff09\u3067\u6210\u9577\u3059\u308b\u3068\u63a8\u5b9a\u3055\u308c\u3066\u304a\u308a\u3001\u4eca\u5f8c\u306e\u5e02\u5834\u62e1\u5927\u306e\u727d\u5f15\u5f79\u3068\u306a\u308b\u53ef\u80fd\u6027\u304c\u793a\u5506\u3055\u308c\u3066\u3044\u307e\u3059\u3002<br \/>\n*   \u4e3b\u8981\u30d7\u30ec\u30a4\u30e4\u30fc:<br \/>\n    *   \u5e02\u5834\u306b\u304a\u3051\u308b\u4e3b\u8981\u4f01\u696d\u3068\u3057\u3066\u306f\u3001Ares Management\u3001Blackstone\u3001Goldman Sachs Asset Management\u3001HPS Investment Partners\u3001Apollo Global Management\u306a\u3069\u304c\u6319\u3052\u3089\u308c\u307e\u3059\u3002\u672c\u30ec\u30dd\u30fc\u30c8\u306b\u306f\u3001\u3053\u308c\u3089\u306e\u4e3b\u8981\u4f01\u696d\u306e\u30d7\u30ed\u30d5\u30a1\u30a4\u30eb\u3082\u542b\u307e\u308c\u3066\u304a\u308a\u3001\u5e02\u5834\u306e\u7af6\u4e89\u72b6\u6cc1\u3092\u7406\u89e3\u3059\u308b\u4e0a\u3067\u91cd\u8981\u306a\u60c5\u5831\u304c\u63d0\u4f9b\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u5e02\u5834\u306e\u96c6\u4e2d\u5ea6\u306b\u3064\u3044\u3066\u3082\u5206\u6790\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>5. \u5e02\u5834\u306e\u5c06\u6765\u30c8\u30ec\u30f3\u30c9<br 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