{"id":10906,"date":"2026-09-22T06:00:00","date_gmt":"2026-09-21T21:00:00","guid":{"rendered":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmk-lm2\/"},"modified":"2026-09-22T07:09:17","modified_gmt":"2026-09-21T22:09:17","slug":"cfa-l3-pmk-lm2","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmk-lm2\/","title":{"rendered":"\u3010CFA\u00ae\ufe0e L3 Private Markets Pathway LM2\u3011General Partner and Investor Perspectives and the Investment Process \u3092\u8981\u70b9\u89e3\u8aac\uff5cGP\u306e\u5f79\u5272\u30fb\u7ba1\u7406\u5831\u916c\u3068\u30ad\u30e3\u30ea\u30fc\u30c9\u30fb\u30a4\u30f3\u30bf\u30ec\u30b9\u30c8\u30fb\u4fa1\u5024\u5275\u9020\u30fb\u30a8\u30b0\u30b8\u30c3\u30c8"},"content":{"rendered":"<style>\n.cfalm-los{counter-reset:los;list-style:none;padding:0!important;margin:1em 0!important}\n.cfalm-los li{border:1px solid #d5d9e3;border-left:4px solid #172152;border-radius:4px;padding:.8em 1em!important;margin:0 0 .8em!important;background:#fff}\n.cfalm-los li::before{display:none!important;content:none!important}\n.cfalm-los .ja{display:block;font-weight:bold;color:#172152;line-height:1.6}\n.cfalm-los .en{display:block;font-size:.85em;color:#667;margin-top:.3em;line-height:1.5;word-break:normal!important;overflow-wrap:anywhere}\n.cfalm-sum{background:#f6f7fb;border-radius:6px;padding:1em 1.2em!important;margin:1em 0!important;list-style:none!important}\n.cfalm-sum li{position:relative;margin:.4em 0!important;padding:0 0 0 1.1em!important;line-height:1.7;list-style:none!important}.cfalm-sum li::before{content:\"\"!important;display:block!important;position:absolute!important;left:0!important;top:.7em!important;width:6px!important;height:6px!important;border-radius:50%!important;background:#172152!important;border:none!important;transform:none!important}\n.cfalm-f{background:#f6f7fb;border-left:4px solid #172152;padding:.7em 1em;margin:.8em 0;font-family:\"Menlo\",\"Consolas\",monospace;font-size:.95em;overflow-x:auto}\n.cfalm-nav{background:#f6f7fb;padding:1em 1.2em;border-radius:6px;margin:1em 0;word-break:normal;overflow-wrap:anywhere}\n<\/style>\n<div class=\"box05\">\n<p>Learning Module 2\u300cGeneral Partner and Investor Perspectives and the Investment Process\uff08GP\u3068\u6295\u8cc7\u5bb6\u306e\u8996\u70b9\u3001\u6295\u8cc7\u30d7\u30ed\u30bb\u30b9\uff09\u300d\u306f\u3001\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30d5\u30a1\u30f3\u30c9\u3092\u904b\u55b6\u3059\u308bGP\u306e\u5f79\u5272\u3068\u8cac\u4efb\u3001\u7ba1\u7406\u5831\u916c\u3068\u30ad\u30e3\u30ea\u30fc\u30c9\u30fb\u30a4\u30f3\u30bf\u30ec\u30b9\u30c8\u306b\u3088\u308b\u5229\u5bb3\u306e\u4e00\u81f4\u3068LP\u304b\u3089\u898b\u305f\u30d5\u30a1\u30f3\u30c9\u306e\u6210\u679c\u3001\u6295\u8cc7\u5bfe\u8c61\u306e\u671b\u307e\u3057\u3044\u7279\u5fb4\u3068\u4fa1\u5024\u5275\u9020\u306e\u6e90\u6cc9\u3001\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u3068\u4e8b\u696d\u8a08\u753b\u3001\u30a8\u30b0\u30b8\u30c3\u30c8\u306e\u65b9\u6cd5\u3068\u4fa1\u5024\u3078\u306e\u5f71\u97ff\u3092\u6271\u3046\u5358\u5143\u3067\u3059\u3002<\/p>\n<p>\u672c\u8a18\u4e8b\u3067\u306f\u3001\u6700\u65b0\u7248\u30ab\u30ea\u30ad\u30e5\u30e9\u30e0\u306eLOS\uff08Learning Outcome Statement\uff09\u3068\u3001\u3053\u306e\u5358\u5143\u306e\u91cd\u8981\u8ad6\u70b9\u3092\u65e5\u672c\u8a9e\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002<\/p>\n<\/div>\n<h2>LM2\u306eLOS\uff08\u5b66\u7fd2\u76ee\u6a19\uff09<\/h2>\n<p>LOS\u306f\u3001\u3053\u306e\u5358\u5143\u3067\u300c\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308b\u3079\u304d\u3053\u3068\u300d\u3068\u3057\u3066\u793a\u3055\u308c\u3066\u3044\u308b\u5b66\u7fd2\u76ee\u6a19\u3067\u3059\u3002LM2\u306b\u306f5\u3064\u306eLOS\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<ol class=\"cfalm-los\">\n<li><span class=\"ja\">LOS 1\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u6295\u8cc7\u30d5\u30a1\u30f3\u30c9\u306e\u904b\u55b6\u306b\u304a\u3051\u308b\u30b8\u30a7\u30cd\u30e9\u30eb\u30fb\u30d1\u30fc\u30c8\u30ca\u30fc\uff08GP\uff09\u306e\u5f79\u5272\u3068\u8cac\u4efb\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss a general partner\u2019s roles and responsibilities in managing private investment funds<\/span><\/li>\n<li><span class=\"ja\">LOS 2\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u6295\u8cc7\u4f1a\u793e\u304c\u6295\u8cc7\u5bb6\u3068\u5229\u5bb3\u3092\u4e00\u81f4\u3055\u305b\u308b\u65b9\u6cd5\u3092\u8ad6\u3058\u3001\u7ba1\u7406\u5831\u916c\u3084\u30ad\u30e3\u30ea\u30fc\u30c9\u30fb\u30a4\u30f3\u30bf\u30ec\u30b9\u30c8\u3092\u542b\u3081\u3001\u6295\u8cc7\u5bb6\u306e\u8996\u70b9\u304b\u3089\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u5e02\u5834\u30d5\u30a1\u30f3\u30c9\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3092\u8a08\u7b97\u30fb\u89e3\u91c8\u3057\u3001\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss how private investment firms align their interests with those of their investors, and calculate, interpret, and discuss private market fund performance from an investor perspective, including management fees and carried interest<\/span><\/li>\n<li><span class=\"ja\">LOS 3\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u6295\u8cc7\u306e\u5bfe\u8c61\u3068\u3057\u3066\u671b\u307e\u3057\u3044\u7279\u5fb4\u3068\u3001\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u5e02\u5834\u306b\u304a\u3051\u308b\u4fa1\u5024\u5275\u9020\u306e\u6e90\u6cc9\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss favorable characteristics of private investment targets and sources of value creation in private markets<\/span><\/li>\n<li><span class=\"ja\">LOS 4\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u6295\u8cc7\u30d7\u30ed\u30bb\u30b9\u306b\u304a\u3051\u308b\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u306e\u5b9f\u65bd\u3068\u4e8b\u696d\u8a08\u753b\u306e\u7b56\u5b9a\u306e\u5f79\u5272\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss the role of conducting due diligence and establishing a business plan in the private investment process<\/span><\/li>\n<li><span class=\"ja\">LOS 5\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u6295\u8cc7\u306e\u4ee3\u66ff\u7684\u306a\u30a8\u30b0\u30b8\u30c3\u30c8\u65b9\u6cd5\u3068\u3001\u305d\u308c\u3089\u304c\u4fa1\u5024\u306b\u4e0e\u3048\u308b\u5f71\u97ff\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss alternative exit routes in private investments and their impact on value<\/span><\/li>\n<\/ol>\n<h2>LM2\u306e\u307e\u3068\u3081<\/h2>\n<p>\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u3092\u307e\u3068\u3081\u308b\u3068\u3001\u6b21\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n<ul class=\"cfalm-sum\">\n<li>GP\u306f\u652f\u914d\u7684\u307e\u305f\u306f\u5927\u304d\u306a\u5c11\u6570\u6301\u5206\u306e\u682a\u4e3b\u3068\u3057\u3066\u3001\u6295\u8cc7\u5bfe\u8c61\u306e\u5206\u6790\u30fb\u53d6\u5f97\u304b\u3089\u4fa1\u5024\u5275\u9020\u6226\u7565\u306e\u7acb\u6848\u30fb\u5b9f\u884c\u307e\u3067\u3001\u6295\u8cc7\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb\u5168\u4f53\u306b\u6df1\u304f\u95a2\u4e0e\u3059\u308b<\/li>\n<li>GP\u306f\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u984d\u306b\u5bfe\u3059\u308b\u7ba1\u7406\u5831\u916c\u3068\u3001\u6210\u679c\u9023\u52d5\u306e\u30ad\u30e3\u30ea\u30fc\u30c9\u30fb\u30a4\u30f3\u30bf\u30ec\u30b9\u30c8\u3092\u7d44\u307f\u5408\u308f\u305b\u3066\u3001LP\u3068\u306e\u5229\u5bb3\u3092\u4e00\u81f4\u3055\u305b\u308b<\/li>\n<li>\u671b\u307e\u3057\u3044\u6295\u8cc7\u5bfe\u8c61\u306f\u3001\u6295\u8cc7\u671f\u9593\u4e2d\u306b\u4fa1\u5024\u5275\u9020\u306e\u4f59\u5730\u304c\u3042\u308b\u3082\u306e\u3002\u521d\u671f\u6bb5\u968e\u306e\u4f01\u696d\u306a\u3089\u88fd\u54c1\u3068\u5e02\u5834\u306e\u78ba\u7acb\u3001\u6210\u719f\u4f01\u696d\u306a\u3089\u53ce\u76ca\u6027\u306e\u6539\u5584<\/li>\n<li>GP\u306f\u6226\u7565\u30fb\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u30fb\u7d44\u7e54\u30fb\u8ca1\u52d9\u306e\u5404\u9762\u3067\u306e\u5909\u9769\u3092\u4fa1\u5024\u30c9\u30e9\u30a4\u30d0\u30fc\u3068\u3057\u3066\u7528\u3044\u3001\u76ee\u6a19\u30ea\u30bf\u30fc\u30f3\u306e\u9054\u6210\u3092\u56f3\u308b<\/li>\n<li>\u9577\u3044\u4fdd\u6709\u671f\u9593\u3067\u4fa1\u5024\u3092\u5275\u9020\u3059\u308b\u305f\u3081\u3001\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u6295\u8cc7\u306e\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u306f\u30d1\u30d6\u30ea\u30c3\u30af\u5e02\u5834\u3088\u308a\u6df1\u304f\u8a73\u7d30\u3002\u305d\u306e\u5206\u6790\u3092\u3082\u3068\u306b\u3001\u512a\u5148\u9806\u4f4d\u3092\u3064\u3051\u305f\u884c\u52d5\u8a08\u753b\u3092\u7b56\u5b9a\u3059\u308b<\/li>\n<li>\u30a8\u30b0\u30b8\u30c3\u30c8\u306b\u306fIPO\u306b\u3088\u308b\u516c\u958b\u5e02\u5834\u3067\u306e\u58f2\u5374\u3001\u6226\u7565\u7684\u8cb7\u3044\u624b\u30fb\u8ca1\u52d9\u7684\u8cb7\u3044\u624b\u3078\u306e\u79c1\u7684\u58f2\u5374\u3001\u6e05\u7b97\u304c\u3042\u308b<\/li>\n<li>IPO\u306f\u6700\u3082\u5e83\u3044\u8ca9\u58f2\u5148\u3068\u8cc7\u672c\u3078\u306e\u30a2\u30af\u30bb\u30b9\u3092\u5f97\u3089\u308c\u308b\u304c\u3001\u4fa1\u5024\u306f\u516c\u958b\u5e02\u5834\u306e\u72b6\u6cc1\u306b\u5927\u304d\u304f\u5de6\u53f3\u3055\u308c\u308b\u3002\u79c1\u7684\u58f2\u5374\u306f\u8fc5\u901f\u30fb\u67d4\u8edf\u306b\u5b9f\u884c\u3067\u304d\u3001\u4fa1\u5024\u306f\u5165\u672d\u306e\u7af6\u4e89\u6027\u3084\u8cb7\u3044\u624b\u306e\u7a2e\u985e\u306b\u5de6\u53f3\u3055\u308c\u308b<\/li>\n<\/ul>\n<p>\u4ee5\u4e0b\u3001LOS\u3054\u3068\u306b\u91cd\u8981\u8ad6\u70b9\u3092\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n<h3>LOS 1\uff1aGP\u306e\u5f79\u5272\u3068\u8cac\u4efb<\/h3>\n<p>GP\u306f\u30d5\u30a1\u30f3\u30c9\u3092\u7d44\u6210\u30fb\u904b\u55b6\u3057\u3001<strong>\u8cc7\u91d1\u8abf\u9054\u3001\u6848\u4ef6\u306e\u767a\u6398\u3001\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u3001\u53d6\u5f97\u3001\u4fa1\u5024\u5275\u9020\u3001\u30e2\u30cb\u30bf\u30ea\u30f3\u30b0\u3001\u30a8\u30b0\u30b8\u30c3\u30c8<\/strong>\u307e\u3067\u3092\u62c5\u3044\u307e\u3059\u3002\u652f\u914d\u7684\u307e\u305f\u306f\u5927\u304d\u306a\u5c11\u6570\u6301\u5206\u3092\u6301\u3064\u3053\u3068\u3067\u3001\u6295\u8cc7\u5148\u306e\u7d4c\u55b6\u306b\u7a4d\u6975\u7684\u306b\u95a2\u4e0e\u3067\u304d\u308b\u70b9\u304c\u30d1\u30d6\u30ea\u30c3\u30af\u904b\u7528\u3068\u306e\u9055\u3044\u3067\u3059\u3002<\/p>\n<ul>\n<li>\u30d5\u30a1\u30f3\u30c9\u7d44\u6210\u3068LP\u304b\u3089\u306e\u8cc7\u91d1\u8abf\u9054\uff08\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u306e\u7372\u5f97\uff09<\/li>\n<li>\u6848\u4ef6\u306e\u767a\u6398\u30fb\u5206\u6790\u30fb\u4ea4\u6e09\u30fb\u53d6\u5f97<\/li>\n<li>\u53d6\u7de0\u5f79\u4f1a\u3078\u306e\u53c2\u52a0\u306a\u3069\u3092\u901a\u3058\u305f\u4fa1\u5024\u5275\u9020\u6226\u7565\u306e\u5b9f\u884c\u3068\u30e2\u30cb\u30bf\u30ea\u30f3\u30b0<\/li>\n<li>\u30a8\u30b0\u30b8\u30c3\u30c8\u306e\u5b9f\u884c\u3068LP\u3078\u306e\u5206\u914d\u3001\u5831\u544a<\/li>\n<li>LP\u306b\u5bfe\u3059\u308b\u53d7\u8a17\u8005\u3068\u3057\u3066\u306e\u8cac\u4efb<\/li>\n<\/ul>\n<h3>LOS 2\uff1a\u5229\u5bb3\u306e\u4e00\u81f4\u3068\u6295\u8cc7\u5bb6\u304b\u3089\u898b\u305f\u30d5\u30a1\u30f3\u30c9\u306e\u6210\u679c<\/h3>\n<p>GP\u306f<strong>\u7ba1\u7406\u5831\u916c<\/strong>\uff08\u901a\u5e38\u306f\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u984d\u30d9\u30fc\u30b9\uff09\u3068<strong>\u30ad\u30e3\u30ea\u30fc\u30c9\u30fb\u30a4\u30f3\u30bf\u30ec\u30b9\u30c8<\/strong>\uff08\u6210\u529f\u5831\u916c\uff09\u3092\u7d44\u307f\u5408\u308f\u305b\u3001LP\u3068\u5229\u5bb3\u3092\u4e00\u81f4\u3055\u305b\u307e\u3059\u3002\u30ad\u30e3\u30ea\u30fc\u306f<strong>\u30cf\u30fc\u30c9\u30eb\u30fb\u30ec\u30fc\u30c8<\/strong>\uff08\u512a\u5148\u30ea\u30bf\u30fc\u30f3\uff09\u3092\u8d85\u3048\u305f\u5229\u76ca\u306b\u5bfe\u3057\u3066\u652f\u6255\u308f\u308c\u3001\u30ad\u30e3\u30c3\u30c1\u30a2\u30c3\u30d7\u3084\u30af\u30ed\u30fc\u30d0\u30c3\u30af\u306a\u3069\u306e\u6761\u4ef6\u304c\u4ed8\u304d\u307e\u3059\u3002LP\u306e\u6210\u679c\u306f\u5831\u916c\u63a7\u9664\u5f8c\u306e\u30cd\u30c3\u30c8\u3067\u8a55\u4fa1\u3057\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u7ba1\u7406\u5831\u916c\uff1a\u6295\u8cc7\u671f\u9593\u4e2d\u306f\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u984d\u3001\u305d\u306e\u5f8c\u306f\u6295\u8cc7\u6b8b\u9ad8\u30d9\u30fc\u30b9\u3068\u3059\u308b\u3053\u3068\u304c\u591a\u3044<\/li>\n<li>\u30ad\u30e3\u30ea\u30fc\u30c9\u30fb\u30a4\u30f3\u30bf\u30ec\u30b9\u30c8\uff1a\u5229\u76ca\u306e\u4e00\u5b9a\u5272\u5408\u3092GP\u304c\u53d7\u3051\u53d6\u308b\u6210\u679c\u5831\u916c<\/li>\n<li>\u30cf\u30fc\u30c9\u30eb\u30fb\u30ec\u30fc\u30c8\uff1aLP\u304c\u5148\u306b\u53d7\u3051\u53d6\u308b\u6700\u4f4e\u30ea\u30bf\u30fc\u30f3<\/li>\n<li>\u30a6\u30a9\u30fc\u30bf\u30fc\u30d5\u30a9\u30fc\u30eb\uff1a\u30d5\u30a1\u30f3\u30c9\u5168\u4f53\u65b9\u5f0f\uff08\u30e8\u30fc\u30ed\u30d4\u30a2\u30f3\u578b\uff09\u3068\u6848\u4ef6\u3054\u3068\u65b9\u5f0f\uff08\u30a2\u30e1\u30ea\u30ab\u30f3\u578b\uff09<\/li>\n<li>\u30af\u30ed\u30fc\u30d0\u30c3\u30af\uff1aGP\u304c\u53d7\u3051\u53d6\u308a\u904e\u304e\u305f\u30ad\u30e3\u30ea\u30fc\u3092\u8fd4\u9084\u3055\u305b\u308b\u6761\u9805\u3002GP\u81ea\u8eab\u306e\u51fa\u8cc7\uff08GP\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\uff09\u3082\u5229\u5bb3\u4e00\u81f4\u306e\u624b\u6bb5<\/li>\n<li>\u30b0\u30ed\u30b9\uff08\u5831\u916c\u63a7\u9664\u524d\uff09\u3068\u30cd\u30c3\u30c8\uff08\u63a7\u9664\u5f8c\uff09\u306eIRR\u30fb\u500d\u7387\u306e\u5dee\u306b\u6ce8\u610f<\/li>\n<\/ul>\n<div class=\"cfalm-f\">\u30ad\u30e3\u30ea\u30fc\u30c9\u30fb\u30a4\u30f3\u30bf\u30ec\u30b9\u30c8 = \u30ad\u30e3\u30ea\u30fc\u7387 \u00d7\uff08\u5206\u914d\u5bfe\u8c61\u306e\u5229\u76ca\uff09\u203b\u30cf\u30fc\u30c9\u30eb\u30fb\u30ec\u30fc\u30c8\u9054\u6210\u304c\u6761\u4ef6<\/div>\n<h3>LOS 3\uff1a\u671b\u307e\u3057\u3044\u6295\u8cc7\u5bfe\u8c61\u3068\u4fa1\u5024\u5275\u9020\u306e\u6e90\u6cc9<\/h3>\n<p>\u671b\u307e\u3057\u3044\u6295\u8cc7\u5bfe\u8c61\u3068\u306f\u3001\u6295\u8cc7\u671f\u9593\u4e2d\u306b<strong>\u4fa1\u5024\u3092\u9ad8\u3081\u3089\u308c\u308b\u4f59\u5730<\/strong>\u304c\u3042\u308b\u3082\u306e\u3067\u3059\u3002GP\u306f<strong>\u6226\u7565\u30fb\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u30fb\u7d44\u7e54\u30fb\u8ca1\u52d9<\/strong>\u306e4\u3064\u306e\u9762\u304b\u3089\u5909\u9769\u3092\u52a0\u3048\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3068\u4f01\u696d\u4fa1\u5024\u3092\u9ad8\u3081\u3066\u30ea\u30bf\u30fc\u30f3\u3092\u751f\u307f\u51fa\u3057\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u521d\u671f\u6bb5\u968e\uff1a\u88fd\u54c1\u3068\u5e02\u5834\u306e\u78ba\u7acb\u3001\u4e8b\u696d\u30e2\u30c7\u30eb\u306e\u691c\u8a3c<\/li>\n<li>\u6210\u719f\u6bb5\u968e\uff1a\u53ce\u76ca\u6027\u306e\u6539\u5584\u3001\u30b3\u30b9\u30c8\u524a\u6e1b\u3001\u4e8b\u696d\u306e\u518d\u69cb\u7bc9<\/li>\n<li>\u6226\u7565\u9762\uff1a\u5e02\u5834\u30dd\u30b8\u30b7\u30e7\u30f3\u306e\u5f37\u5316\u3001M&#038;A\u3001\u4e8b\u696d\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u898b\u76f4\u3057<\/li>\n<li>\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u9762\uff1a\u52b9\u7387\u5316\u3001\u8abf\u9054\u30fb\u4fa1\u683c\u6226\u7565\u306e\u6539\u5584<\/li>\n<li>\u7d44\u7e54\u9762\uff1a\u7d4c\u55b6\u9663\u306e\u5237\u65b0\u3001\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u8a2d\u8a08\u3001\u30ac\u30d0\u30ca\u30f3\u30b9\u5f37\u5316<\/li>\n<li>\u8ca1\u52d9\u9762\uff1a\u8cc7\u672c\u69cb\u6210\u306e\u6700\u9069\u5316\u3001\u8ca0\u50b5\u306e\u6d3b\u7528<\/li>\n<\/ul>\n<h3>LOS 4\uff1a\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u3068\u4e8b\u696d\u8a08\u753b<\/h3>\n<p>\u4fa1\u5024\u5275\u9020\u306f\u9577\u3044\u4fdd\u6709\u671f\u9593\u3092\u304b\u3051\u3066\u884c\u308f\u308c\u308b\u305f\u3081\u3001\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u6295\u8cc7\u306e<strong>\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9<\/strong>\u306f\u30d1\u30d6\u30ea\u30c3\u30af\u5e02\u5834\u3088\u308a\u6df1\u304f\u3001\u4e8b\u696d\u30fb\u8ca1\u52d9\u30fb\u6cd5\u52d9\u30fb\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u306a\u3069\u591a\u9762\u7684\u306b\u884c\u308f\u308c\u307e\u3059\u3002\u305d\u306e\u7d50\u679c\u3092\u3082\u3068\u306bGP\u306f\u3001\u76ee\u6a19\u30ea\u30bf\u30fc\u30f3\u306b\u5fc5\u8981\u306a\u6295\u8cc7\u3084\u5909\u9769\u306e\u512a\u5148\u9806\u4f4d\u3092\u3064\u3051\u305f<strong>\u4e8b\u696d\u8a08\u753b\uff08\u884c\u52d5\u8a08\u753b\uff09<\/strong>\u3092\u7b56\u5b9a\u3057\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u60c5\u5831\u306e\u975e\u5bfe\u79f0\u6027\u304c\u5927\u304d\u304f\u3001\u7d4c\u55b6\u9663\u3078\u306e\u30a2\u30af\u30bb\u30b9\u3084\u30c7\u30fc\u30bf\u30eb\u30fc\u30e0\u3092\u901a\u3058\u305f\u8a73\u7d30\u306a\u8abf\u67fb\u304c\u5fc5\u8981<\/li>\n<li>\u5206\u6790\u5bfe\u8c61\uff1a\u4e8b\u696d\u30fb\u5e02\u5834\u3001\u8ca1\u52d9\u3001\u6cd5\u52d9\u30fb\u898f\u5236\u3001\u7a0e\u52d9\u3001\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u3001ESG\u306a\u3069<\/li>\n<li>\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u306e\u7d50\u679c\u306f\u53d6\u5f97\u4fa1\u683c\u3084\u5951\u7d04\u6761\u4ef6\u306b\u53cd\u6620<\/li>\n<li>\u4e8b\u696d\u8a08\u753b\uff1a\u4fa1\u5024\u5275\u9020\u306e\u65bd\u7b56\u3001\u5fc5\u8981\u306a\u6295\u8cc7\u3001\u30bf\u30a4\u30df\u30f3\u30b0\u3001\u76ee\u6a19\u6307\u6a19\u3092\u660e\u793a<\/li>\n<li>\u53d6\u5f97\u5f8c\u306f\u8a08\u753b\u306b\u6cbf\u3063\u3066\u5b9f\u884c\u3057\u3001\u9032\u6357\u3092\u30e2\u30cb\u30bf\u30ea\u30f3\u30b0<\/li>\n<\/ul>\n<h3>LOS 5\uff1a\u30a8\u30b0\u30b8\u30c3\u30c8\u306e\u65b9\u6cd5\u3068\u4fa1\u5024\u3078\u306e\u5f71\u97ff<\/h3>\n<p>\u30a8\u30b0\u30b8\u30c3\u30c8\u306b\u306f<strong>IPO\uff08\u516c\u958b\u5e02\u5834\u3067\u306e\u58f2\u5374\uff09<\/strong>\u3001<strong>\u6226\u7565\u7684\u8cb7\u3044\u624b\u3084\u8ca1\u52d9\u7684\u8cb7\u3044\u624b\u3078\u306e\u79c1\u7684\u58f2\u5374<\/strong>\u3001<strong>\u6e05\u7b97<\/strong>\u304c\u3042\u308a\u307e\u3059\u3002\u3069\u306e\u65b9\u6cd5\u3092\u9078\u3076\u304b\u3067\u3001\u5b9f\u73fe\u3067\u304d\u308b\u4fa1\u5024\u3084\u30bf\u30a4\u30df\u30f3\u30b0\u3001\u78ba\u5b9f\u6027\u304c\u5909\u308f\u308a\u307e\u3059\u3002<\/p>\n<ul>\n<li>IPO\uff1a\u6700\u3082\u5e83\u3044\u8ca9\u58f2\u5148\u3068\u8cc7\u672c\u30a2\u30af\u30bb\u30b9\u3001\u305f\u3060\u3057\u4fa1\u5024\u306f\u682a\u5f0f\u5e02\u5834\u306e\u72b6\u6cc1\u306b\u5f37\u304f\u4f9d\u5b58\u3057\u3001\u58f2\u5374\u306b\u6642\u9593\u304c\u304b\u304b\u308b<\/li>\n<li>\u6226\u7565\u7684\u8cb7\u3044\u624b\u3078\u306e\u58f2\u5374\uff1a\u30b7\u30ca\u30b8\u30fc\u3092\u898b\u8fbc\u3093\u3060\u9ad8\u3044\u4fa1\u683c\u304c\u3064\u304d\u3046\u308b<\/li>\n<li>\u8ca1\u52d9\u7684\u8cb7\u3044\u624b\u3078\u306e\u58f2\u5374\uff08\u30bb\u30ab\u30f3\u30c0\u30ea\u30fc\u30fb\u30d0\u30a4\u30a2\u30a6\u30c8\u306a\u3069\uff09\uff1a\u4ed6\u306e\u30d5\u30a1\u30f3\u30c9\u3078\u306e\u58f2\u5374<\/li>\n<li>\u79c1\u7684\u58f2\u5374\u306f\u8fc5\u901f\u30fb\u67d4\u8edf\u3067\u3001\u4fa1\u5024\u306f\u5165\u672d\u306e\u7af6\u4e89\u6027\u3084\u8cb7\u3044\u624b\u306e\u7a2e\u985e\u306b\u4f9d\u5b58<\/li>\n<li>\u6e05\u7b97\uff1a\u4e8b\u696d\u304c\u4e0d\u8abf\u306a\u5834\u5408\u306e\u6700\u7d42\u624b\u6bb5\u3067\u3001\u56de\u53ce\u306f\u9650\u5b9a\u7684<\/li>\n<\/ul>\n<h2>\u52b9\u7387\u3088\u304f\u5b66\u3076\u306b\u306f FA-Academy<\/h2>\n<p>CFA\u00ae\ufe0e\u306e\u5354\u4f1a\u30c6\u30ad\u30b9\u30c8\u306f\u82f1\u8a9e\u3067\u5206\u91cf\u3082\u591a\u304f\u30011\u3064\u3072\u3068\u3064\u306e\u5358\u5143\u3092\u82f1\u8a9e\u3060\u3051\u3067\u7406\u89e3\u3057\u3066\u3044\u304f\u306e\u306f\u5927\u304d\u306a\u8ca0\u62c5\u3067\u3059\u3002<\/p>\n<p>FA-Academy\uff08Financial Analyst Academy\uff09\u306f\u3001<strong>\u65e5\u672c\u8a9e\u3067\u5b66\u3079\u308b\u6570\u5c11\u306a\u3044CFA\u00ae\ufe0e\u8a66\u9a13\u30b5\u30dd\u30fc\u30c8<\/strong>\u3067\u3059\u3002\u3053\u308c\u307e\u3067 Level 1 \u304b\u3089 Level 3 \u307e\u3067\u591a\u304f\u306e\u5408\u683c\u8005\u3092\u8f29\u51fa\u3057\u3066\u304a\u308a\u3001\u5408\u683c\u8005\u306e\u65b9\u3005\u3068\u306e\u5bfe\u8ac7\u3082\u6570\u591a\u304f\u516c\u958b\u3057\u3066\u3044\u307e\u3059\u3002\u3069\u3093\u306a\u65b9\u304c\u3001\u3069\u306e\u3088\u3046\u306b\u5408\u683c\u3055\u308c\u305f\u306e\u304b\u306f<a href=\"https:\/\/triumphmind.com\/cfa\/category\/gokaku\/\" target=\"_blank\" rel=\"noopener\">\u5408\u683c\u8005\u5bfe\u8ac7\u30fb\u5408\u683c\u4f53\u9a13\u8ac7\u306e\u4e00\u89a7<\/a>\u304b\u3089\u3054\u89a7\u3044\u305f\u3060\u3051\u307e\u3059\u3002<\/p>\n<ul>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/level3-mail\/\" target=\"_blank\" rel=\"noopener\">Level 3 \u65e5\u672c\u8a9e\u8981\u70b9\u96c6\u306e\u7121\u6599\u30b5\u30f3\u30d7\u30eb\u3092\u53d7\u3051\u53d6\u308b\uff087\u65e5\u9593\u30e1\u30fc\u30eb\u8b1b\u5ea7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/timerex.net\/s\/cfa.tips.slack_2a23\/e72e883e\/\" target=\"_blank\" rel=\"noopener\">\u7121\u6599\u500b\u5225\u9762\u8ac7\u3092\u4e88\u7d04\u3059\u308b\uff08\u5b66\u7fd2\u8a08\u753b\u306e\u3054\u76f8\u8ac7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/course\/\" target=\"_blank\" rel=\"noopener\">\u53d7\u8b1b\u6848\u5185\uff08\u30b3\u30fc\u30b9\u4e00\u89a7\u30fb\u53d7\u8b1b\u6599\uff09\u3092\u898b\u308b<\/a><\/li>\n<\/ul>\n<div class=\"cfalm-nav\">\u524d\u306e\u5358\u5143\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmk-lm1\/\">LM1 Private Investments and Structures\uff08\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u6295\u8cc7\u3068\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30fc\uff09<\/a><br \/>\n\u6b21\u306e\u5358\u5143\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmk-lm3\/\">LM3 Private Equity\uff08\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a8\u30af\u30a4\u30c6\u30a3\uff09<\/a><br \/>\n\u5168\u4f53\u306e\u76ee\u6b21\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/cfa-curriculum\/#l3-pmk\">CFA\u00ae\ufe0e \u5b66\u7fd2\u5185\u5bb9\u306e\u76ee\u6b21\uff08Level 3 Private Markets Pathway\uff09<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CFA\u00ae\ufe0e Level 3 Private Markets Pathway LM2\u300cGeneral Partner and Investor Perspectives and the Investment Process\uff08GP\u3068\u6295\u8cc7\u5bb6\u306e\u8996\u70b9\u3001\u6295\u8cc7\u30d7\u30ed\u30bb\u30b9\uff09\u300d\u306eLOS\uff08\u5b66\u7fd2\u76ee\u6a19\uff09\u3068\u91cd\u8981\u8ad6\u70b9\u3092\u3001\u6700\u65b0\u7248\u30ab\u30ea\u30ad\u30e5\u30e9\u30e0\u306b\u57fa\u3065\u3044\u3066\u65e5\u672c\u8a9e\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002<\/p>\n","protected":false},"author":1,"featured_media":11252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[100],"tags":[],"class_list":["post-10906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-level3-topics"],"_links":{"self":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/comments?post=10906"}],"version-history":[{"count":1,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10906\/revisions"}],"predecessor-version":[{"id":11079,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10906\/revisions\/11079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media\/11252"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media?parent=10906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/categories?post=10906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/tags?post=10906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}