{"id":10911,"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-lm7\/"},"modified":"2026-09-22T07:09:28","modified_gmt":"2026-09-21T22:09:28","slug":"cfa-l3-pmk-lm7","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmk-lm7\/","title":{"rendered":"\u3010CFA\u00ae\ufe0e L3 Private Markets Pathway LM7\u3011Infrastructure \u3092\u8981\u70b9\u89e3\u8aac\uff5c\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\u306e\u7279\u5fb4\u30fb\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u30fbBOT\u30fbDCF\u8a55\u4fa1"},"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 7\u300cInfrastructure\uff08\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\uff09\u300d\u306f\u3001\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\u306e\u4e3b\u306a\u7279\u5fb4\u3068\u5206\u985e\u3001\u6295\u8cc7\u624b\u6cd5\u3068\u6295\u8cc7\u30d3\u30fc\u30af\u30eb\u3001\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306e\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb\u306b\u6cbf\u3063\u305f\u6295\u8cc7\u30d7\u30ed\u30bb\u30b9\u3068\u8ca0\u50b5\u30fb\u682a\u5f0f\u306b\u3088\u308b\u8cc7\u91d1\u8abf\u9054\u3001\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u3068\u8a55\u4fa1\u3001\u305d\u3057\u3066\u8cc7\u7523\u914d\u5206\u306b\u304a\u3051\u308b\u30a4\u30f3\u30d5\u30e9\u306e\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\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>LM7\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\u3002LM7\u306b\u306f5\u3064\u306eLOS\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<ol class=\"cfalm-los\">\n<li><span class=\"ja\">LOS 1\uff1a\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\u306e\u91cd\u8981\u306a\u7279\u5fb4\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss important infrastructure investment features<\/span><\/li>\n<li><span class=\"ja\">LOS 2\uff1a\u30a4\u30f3\u30d5\u30e9\u306e\u6295\u8cc7\u624b\u6cd5\u3068\u6295\u8cc7\u30d3\u30fc\u30af\u30eb\u3001\u304a\u3088\u3073\u305d\u308c\u3089\u306e\u7528\u9014\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss infrastructure investment methods and investment vehicles and their uses<\/span><\/li>\n<li><span class=\"ja\">LOS 3\uff1a\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306e\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb\u306b\u6cbf\u3063\u305f\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\u30d7\u30ed\u30bb\u30b9\u3068\u3001\u30a4\u30f3\u30d5\u30e9\u306e\u8ca0\u50b5\u30fb\u682a\u5f0f\u306b\u3088\u308b\u8cc7\u91d1\u8abf\u9054\u306e\u5f79\u5272\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss the infrastructure investment process over the project life cycle and the roles of infrastructure debt and equity financing<\/span><\/li>\n<li><span class=\"ja\">LOS 4\uff1a\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\u306e\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u3068\u8a55\u4fa1\u306e\u30d7\u30ed\u30bb\u30b9\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss the due diligence and valuation processes for infrastructure investments<\/span><\/li>\n<li><span class=\"ja\">LOS 5\uff1a\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\u9593\u306e\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u3001\u304a\u3088\u3073\u6226\u7565\u7684\u8cc7\u7523\u914d\u5206\u306e\u4e00\u90e8\u3068\u3057\u3066\u306e\u4ed6\u306e\u6295\u8cc7\u3068\u306e\u6bd4\u8f03\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss the risk and return among infrastructure investments and as compared to other investments as part of a strategic asset allocation<\/span><\/li>\n<\/ol>\n<h2>LM7\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>\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\u306f\u5358\u4e00\u7528\u9014\u3067\u8010\u7528\u5e74\u6570\u306e\u9577\u3044\u8cc7\u7523\u3067\u3042\u308a\u3001\u6295\u8cc7\u5bb6\u304c\u8ca0\u3046\u4e8b\u696d\u30ea\u30b9\u30af\u306b\u3082\u3068\u3065\u3044\u3066\u5206\u985e\u3067\u304d\u308b<\/li>\n<li>\u4e8b\u696d\u30ea\u30b9\u30af\u306f\u3001\u8cc7\u672c\u69cb\u6210\u4e0a\u306e\u4f4d\u7f6e\u3068\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3078\u306e\u8acb\u6c42\u6a29\u3001\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306e\u7a2e\u985e\u3001\u30ac\u30d0\u30ca\u30f3\u30b9\u3001\u5730\u653f\u5b66\u30fb\u7d4c\u6e08\u7684\u306a\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3067\u6c7a\u307e\u308b<\/li>\n<li>\u5358\u4e00\u8cc7\u7523\u306e\u30a4\u30f3\u30d5\u30e9\u4f01\u696d\u306f\u3001\u7279\u5b9a\u306e\u5546\u696d\u5951\u7d04\u3068\u7d50\u3073\u3064\u3044\u305f\u7279\u5225\u76ee\u7684\u4f1a\u793e\u306e\u8ca0\u50b5\u30fb\u682a\u5f0f\u3068\u3057\u3066\u6295\u8cc7\u3055\u308c\u308b\u3053\u3068\u304c\u591a\u3044\u3002\u8907\u6570\u306e\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u3092\u55b6\u3080\u4e8b\u696d\u4f53\u3078\u306e\u6295\u8cc7\u306f\u3001\u4e00\u822c\u306e\u4f01\u696d\u306b\u8fd1\u3044<\/li>\n<li>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a8\u30af\u30a4\u30c6\u30a3\u3084\u4e0d\u52d5\u7523\u306f\u6570\u5e74\u5f8c\u306e\u5024\u4e0a\u304c\u308a\u306b\u3088\u308b\u30a8\u30b0\u30b8\u30c3\u30c8\u3092\u72d9\u3046\u304c\u3001BOT\uff08\u5efa\u8a2d\u30fb\u904b\u55b6\u30fb\u8b72\u6e21\uff09\u65b9\u5f0f\u306e\u30a4\u30f3\u30d5\u30e9\u306f\u904b\u55b6\u671f\u9593\u306e\u7d42\u4e86\u6642\u306b\u8cc7\u7523\u3092\u8b72\u6e21\u3059\u308b\u305f\u3081\u3001\u30bf\u30fc\u30df\u30ca\u30eb\u30fb\u30d0\u30ea\u30e5\u30fc\u306f\u30bc\u30ed<\/li>\n<li>\u30a4\u30f3\u30d5\u30e9\u7279\u6709\u306e\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u8ab2\u984c\u306b\u306f\u3001\u6cd5\u57df\u30fb\u6cd5\u5f8b\u30fb\u898f\u5236\u9762\u3001\u8a2d\u8a08\u30fb\u8abf\u9054\u30fb\u5efa\u8a2d\uff08EPC\uff09\u6bb5\u968e\u306e\u6280\u8853\u9762\u3001\u5951\u7d04\u3084\u898f\u5236\u3067\u5b9a\u307e\u308b\u904b\u55b6\u306e\u5546\u696d\u6761\u4ef6\u304c\u3042\u308b<\/li>\n<li>\u30a4\u30f3\u30d5\u30e9\u8cc7\u7523\u306f\u56fa\u6709\u6027\u304c\u9ad8\u304f\u6d41\u52d5\u6027\u304c\u4f4e\u3044\u305f\u3081\u3001\u8a55\u4fa1\u306f\u5546\u696d\u671f\u9593\u306e\u671f\u5f85\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u30ea\u30b9\u30af\u8abf\u6574\u5f8c\u306e\u5272\u5f15\u7387\u3067\u5272\u308a\u5f15\u304f\u65b9\u6cd5\u304c\u4e2d\u5fc3<\/li>\n<li>\u5efa\u8a2d\u6bb5\u968e\u306e\u5f8c\u306f\u9ad8\u3044\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u914d\u5206\u304c\u7d9a\u304d\u3001\u516c\u958b\u50b5\u5238\u30fb\u682a\u5f0f\u3068\u306e\u76f8\u95a2\u3082\u4f4e\u3044\u305f\u3081\u3001\u8cc7\u7523\u914d\u5206\u3067\u306f\u5206\u6563\u52b9\u679c\u3068\u9577\u671f\u306e\u8ca0\u50b5\u3068\u306e\u30de\u30c3\u30c1\u30f3\u30b0\u304c\u4e3b\u306a\u76ee\u7684\u3068\u306a\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\uff1a\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\u306e\u7279\u5fb4<\/h3>\n<p>\u30a4\u30f3\u30d5\u30e9\u306f<strong>\u5358\u4e00\u7528\u9014\u30fb\u9577\u5bff\u547d<\/strong>\u306e\u8cc7\u7523\u3067\u3001\u4ea4\u901a\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u3001\u516c\u76ca\u3001\u901a\u4fe1\u306a\u3069\u306e\u7d4c\u6e08\u30a4\u30f3\u30d5\u30e9\u3068\u3001\u5b66\u6821\u3084\u75c5\u9662\u306a\u3069\u306e\u793e\u4f1a\u30a4\u30f3\u30d5\u30e9\u304c\u3042\u308a\u307e\u3059\u3002\u6295\u8cc7\u5bb6\u306e<strong>\u4e8b\u696d\u30ea\u30b9\u30af<\/strong>\u306f\u3001\u8cc7\u672c\u69cb\u6210\u4e0a\u306e\u4f4d\u7f6e\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u6027\u8cea\uff08\u5951\u7d04\u30fb\u898f\u5236\u30fb\u9700\u8981\u4f9d\u5b58\uff09\u3001\u30ac\u30d0\u30ca\u30f3\u30b9\u3001\u56fd\u30fb\u5730\u57df\u306e\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3067\u6c7a\u307e\u308a\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u53c2\u5165\u969c\u58c1\u304c\u9ad8\u304f\u72ec\u5360\u7684\u306a\u6027\u683c\u3001\u9700\u8981\u304c\u6bd4\u8f03\u7684\u5b89\u5b9a<\/li>\n<li>\u30b0\u30ea\u30fc\u30f3\u30d5\u30a3\u30fc\u30eb\u30c9\uff08\u65b0\u898f\u5efa\u8a2d\uff09\u3068\u30d6\u30e9\u30a6\u30f3\u30d5\u30a3\u30fc\u30eb\u30c9\uff08\u65e2\u5b58\u30fb\u7a3c\u50cd\u4e2d\uff09<\/li>\n<li>\u53ce\u76ca\u306e\u578b\uff1a\u5229\u7528\u53ef\u80fd\u6027\u306b\u3082\u3068\u3065\u304f\u652f\u6255\u3044\uff08\u30a2\u30d9\u30a4\u30e9\u30d3\u30ea\u30c6\u30a3\u30fb\u30da\u30a4\u30e1\u30f3\u30c8\uff09\u3001\u898f\u5236\u6599\u91d1\u3001\u5229\u7528\u91cf\uff08\u9700\u8981\uff09\u9023\u52d5<\/li>\n<li>\u9700\u8981\u9023\u52d5\u578b\u307b\u3069\u666f\u6c17\u611f\u5fdc\u5ea6\u304c\u9ad8\u304f\u4e8b\u696d\u30ea\u30b9\u30af\u304c\u5927\u304d\u3044<\/li>\n<li>\u5b98\u6c11\u9023\u643a\uff08PPP\uff09\u306a\u3069\u516c\u5171\u90e8\u9580\u3068\u306e\u5951\u7d04\u304c\u591a\u3044<\/li>\n<\/ul>\n<h3>LOS 2\uff1a\u6295\u8cc7\u624b\u6cd5\u3068\u6295\u8cc7\u30d3\u30fc\u30af\u30eb<\/h3>\n<p>\u5358\u4e00\u8cc7\u7523\u306e\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\u306f\u3001\u7279\u5b9a\u306e\u5546\u696d\u5951\u7d04\u3068\u7d50\u3073\u3064\u3044\u305f<strong>\u7279\u5225\u76ee\u7684\u4f1a\u793e\uff08SPC\uff09<\/strong>\u3078\u306e\u8ca0\u50b5\u30fb\u682a\u5f0f\u6295\u8cc7\u306e\u5f62\u3092\u3068\u308b\u3053\u3068\u304c\u591a\u304f\u3001\u8907\u6570\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u3092\u55b6\u3080\u4e8b\u696d\u4f53\u3078\u306e\u6295\u8cc7\u306f\u4e00\u822c\u4f01\u696d\u3078\u306e\u6295\u8cc7\u306b\u8fd1\u304f\u306a\u308a\u307e\u3059\u3002\u6295\u8cc7\u5bb6\u306f<strong>\u76f4\u63a5\u6295\u8cc7\u3001\u5171\u540c\u6295\u8cc7\u3001\u975e\u4e0a\u5834\u30d5\u30a1\u30f3\u30c9\u3001\u4e0a\u5834\u30a4\u30f3\u30d5\u30e9<\/strong>\u304b\u3089\u3001\u898f\u6a21\u3084\u5c02\u9580\u6027\u306b\u5fdc\u3058\u3066\u9078\u3073\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u76f4\u63a5\u6295\u8cc7\uff1a\u5927\u898f\u6a21\u306a\u5e74\u91d1\u306a\u3069\u304c\u652f\u914d\u6a29\u3092\u5f97\u3066\u9577\u671f\u4fdd\u6709<\/li>\n<li>\u5171\u540c\u6295\u8cc7\uff1a\u30d5\u30a1\u30f3\u30c9\u3068\u4e26\u3093\u3067\u500b\u5225\u6848\u4ef6\u306b\u6295\u8cc7<\/li>\n<li>\u975e\u4e0a\u5834\u30d5\u30a1\u30f3\u30c9\uff1a\u30af\u30ed\u30fc\u30ba\u30c9\u30a8\u30f3\u30c9\u578b\u306e\u307b\u304b\u3001\u9577\u671f\u4fdd\u6709\u306e\u30aa\u30fc\u30d7\u30f3\u30a8\u30f3\u30c9\u578b\u3082\u3042\u308b<\/li>\n<li>\u4e0a\u5834\u30a4\u30f3\u30d5\u30e9\uff1a\u30a4\u30f3\u30d5\u30e9\u4f01\u696d\u306e\u682a\u5f0f\u3084\u30d5\u30a1\u30f3\u30c9\u306a\u3069\u3001\u6d41\u52d5\u6027\u306f\u9ad8\u3044\u304c\u682a\u5f0f\u5e02\u5834\u3068\u9023\u52d5\u3057\u3084\u3059\u3044<\/li>\n<li>SPC\uff1a\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3068\u5951\u7d04\u306b\u30ea\u30b9\u30af\u3092\u9650\u5b9a\uff08\u30ce\u30f3\u30ea\u30b3\u30fc\u30b9\uff09<\/li>\n<\/ul>\n<h3>LOS 3\uff1a\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb\u306b\u6cbf\u3063\u305f\u6295\u8cc7\u30d7\u30ed\u30bb\u30b9\u3068\u8cc7\u91d1\u8abf\u9054<\/h3>\n<p>\u30a4\u30f3\u30d5\u30e9\u30fb\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306f<strong>\u958b\u767a\u30fb\u5efa\u8a2d\u6bb5\u968e<\/strong>\u304b\u3089<strong>\u904b\u55b6\u6bb5\u968e<\/strong>\u3078\u9032\u307f\u3001BOT\u65b9\u5f0f\u3067\u306f\u904b\u55b6\u671f\u9593\u306e\u7d42\u4e86\u6642\u306b\u8cc7\u7523\u3092\u516c\u5171\u90e8\u9580\u3078<strong>\u8b72\u6e21<\/strong>\u3057\u307e\u3059\u3002\u5efa\u8a2d\u6bb5\u968e\u306f\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u306a\u304f\u30ea\u30b9\u30af\u304c\u9ad8\u304f\u3001\u904b\u55b6\u6bb5\u968e\u306b\u5165\u308b\u3068\u5b89\u5b9a\u3057\u305f\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u751f\u307e\u308c\u307e\u3059\u3002\u8cc7\u91d1\u306f\u3001\u30b9\u30dd\u30f3\u30b5\u30fc\u306e<strong>\u682a\u5f0f<\/strong>\u3068\u3001\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u8fd4\u6e08\u539f\u8cc7\u3068\u3059\u308b<strong>\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u8ca0\u50b5<\/strong>\u3067\u8abf\u9054\u3057\u307e\u3059\u3002<\/p>\n<ul>\n<li>BOT\uff08\u5efa\u8a2d\u30fb\u904b\u55b6\u30fb\u8b72\u6e21\uff09\uff1a\u904b\u55b6\u671f\u9593\u7d42\u4e86\u5f8c\u306b\u8b72\u6e21\u3059\u308b\u305f\u3081\u30bf\u30fc\u30df\u30ca\u30eb\u30fb\u30d0\u30ea\u30e5\u30fc\u306f\u30bc\u30ed<\/li>\n<li>\u5efa\u8a2d\u6bb5\u968e\uff1a\u5efa\u8a2d\u9045\u5ef6\u30fb\u30b3\u30b9\u30c8\u8d85\u904e\u306e\u30ea\u30b9\u30af\u3001\u682a\u5f0f\u306e\u6bd4\u91cd\u304c\u5927\u304d\u3044<\/li>\n<li>\u904b\u55b6\u6bb5\u968e\uff1a\u5b89\u5b9a\u3057\u305f\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3001\u30ea\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3067\u8ca0\u50b5\u6bd4\u7387\u3092\u9ad8\u3081\u308b\u3053\u3068\u3082<\/li>\n<li>\u8ca0\u50b5\uff1a\u30ce\u30f3\u30ea\u30b3\u30fc\u30b9\u306e\u30b7\u30cb\u30a2\u30fb\u30ed\u30fc\u30f3\u3084\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u30fb\u30dc\u30f3\u30c9\u3001\u9577\u671f\u30fb\u56fa\u5b9a<\/li>\n<li>\u682a\u5f0f\uff1a\u6b8b\u4f59\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3078\u306e\u8acb\u6c42\u6a29\u3001\u30b9\u30dd\u30f3\u30b5\u30fc\u3084\u6a5f\u95a2\u6295\u8cc7\u5bb6\u304c\u4fdd\u6709<\/li>\n<\/ul>\n<h3>LOS 4\uff1a\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u3068\u8a55\u4fa1<\/h3>\n<p>\u30a4\u30f3\u30d5\u30e9\u7279\u6709\u306e\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u306b\u306f\u3001<strong>\u6cd5\u57df\u30fb\u6cd5\u5f8b\u30fb\u898f\u5236<\/strong>\u3001<strong>\u8a2d\u8a08\u30fb\u8abf\u9054\u30fb\u5efa\u8a2d\uff08EPC\uff09<\/strong>\u306e\u6280\u8853\u9762\u3001\u5951\u7d04\u3084\u898f\u5236\u3067\u5b9a\u307e\u308b<strong>\u904b\u55b6\u306e\u5546\u696d\u6761\u4ef6<\/strong>\u306e\u78ba\u8a8d\u304c\u3042\u308a\u307e\u3059\u3002\u8a55\u4fa1\u306f\u3001\u5546\u696d\u671f\u9593\uff08\u30b3\u30f3\u30bb\u30c3\u30b7\u30e7\u30f3\u671f\u9593\uff09\u306e\u671f\u5f85\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092<strong>\u30ea\u30b9\u30af\u8abf\u6574\u5f8c\u306e\u5272\u5f15\u7387<\/strong>\u3067\u5272\u308a\u5f15\u304fDCF\u6cd5\u304c\u4e2d\u5fc3\u3067\u3059\u3002<\/p>\n<ul>\n<li>\u898f\u5236\u30fb\u6cd5\u5236\u5ea6\uff1a\u6599\u91d1\u898f\u5236\u3001\u653f\u6cbb\u30fb\u653f\u7b56\u5909\u66f4\u306e\u30ea\u30b9\u30af<\/li>\n<li>EPC\uff1a\u5efa\u8a2d\u696d\u8005\u306e\u80fd\u529b\u3001\u56fa\u5b9a\u4fa1\u683c\u30fb\u7d0d\u671f\u4fdd\u8a3c\u306a\u3069\u306e\u5951\u7d04\u6761\u4ef6<\/li>\n<li>\u5546\u696d\u6761\u4ef6\uff1a\u9700\u8981\u4e88\u6e2c\u3001\u6599\u91d1\u30fb\u5951\u7d04\u76f8\u624b\u306e\u4fe1\u7528\u529b<\/li>\n<li>DCF\uff1a\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u4e88\u6e2c\u671f\u9593\u306f\u5951\u7d04\u30fb\u30b3\u30f3\u30bb\u30c3\u30b7\u30e7\u30f3\u671f\u9593\u306b\u5408\u308f\u305b\u308b<\/li>\n<li>BOT\u65b9\u5f0f\u3067\u306f\u30bf\u30fc\u30df\u30ca\u30eb\u30fb\u30d0\u30ea\u30e5\u30fc\u3092\u30bc\u30ed\u3068\u3059\u308b<\/li>\n<li>\u5272\u5f15\u7387\u306f\u6bb5\u968e\uff08\u5efa\u8a2d\u30fb\u904b\u55b6\uff09\u3084\u53ce\u76ca\u306e\u578b\u306e\u30ea\u30b9\u30af\u3092\u53cd\u6620<\/li>\n<\/ul>\n<div class=\"cfalm-f\">V = \u03a3 CF\u209c \u00f7 (1 + r)^t\uff08t = 1\u301cT\u3001BOT\u65b9\u5f0f\u3067\u306f\u30bf\u30fc\u30df\u30ca\u30eb\u30fb\u30d0\u30ea\u30e5\u30fc = 0\uff09<\/div>\n<h3>LOS 5\uff1a\u30a4\u30f3\u30d5\u30e9\u306e\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u3001\u8cc7\u7523\u914d\u5206\u3067\u306e\u5f79\u5272<\/h3>\n<p>\u30a4\u30f3\u30d5\u30e9\u306f\u5efa\u8a2d\u6bb5\u968e\u306e\u5f8c\u3001<strong>\u9ad8\u3044\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u914d\u5206<\/strong>\u304c\u9577\u671f\u306b\u308f\u305f\u3063\u3066\u7d9a\u304d\u3001\u516c\u958b\u50b5\u5238\u30fb\u682a\u5f0f\u3068\u306e<strong>\u76f8\u95a2\u304c\u4f4e\u3044<\/strong>\u306e\u304c\u7279\u5fb4\u3067\u3059\u3002\u305d\u306e\u305f\u3081\u8cc7\u7523\u914d\u5206\u3067\u306f\u3001<strong>\u5206\u6563\u52b9\u679c<\/strong>\u3068<strong>\u9577\u671f\u8ca0\u50b5\u3068\u306e\u30de\u30c3\u30c1\u30f3\u30b0<\/strong>\u304c\u4e3b\u306a\u76ee\u7684\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30d6\u30e9\u30a6\u30f3\u30d5\u30a3\u30fc\u30eb\u30c9\u30fb\u898f\u5236\u578b\u30fb\u5951\u7d04\u578b\uff1a\u4f4e\u30ea\u30b9\u30af\u3001\u30a4\u30f3\u30ab\u30e0\u4e2d\u5fc3<\/li>\n<li>\u30b0\u30ea\u30fc\u30f3\u30d5\u30a3\u30fc\u30eb\u30c9\u30fb\u9700\u8981\u9023\u52d5\u578b\uff1a\u9ad8\u30ea\u30b9\u30af\u3001\u5024\u4e0a\u304c\u308a\u76ca\u306e\u6bd4\u91cd\u5927<\/li>\n<li>\u30a4\u30f3\u30d5\u30ec\u9023\u52d5\u306e\u6599\u91d1\u8a2d\u5b9a\u306b\u3088\u308b\u30a4\u30f3\u30d5\u30ec\u30fb\u30d8\u30c3\u30b8<\/li>\n<li>\u30ea\u30b9\u30af\uff1a\u898f\u5236\u30fb\u653f\u6cbb\u3001\u5efa\u8a2d\u3001\u9700\u8981\u3001\u30ea\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3001\u6d41\u52d5\u6027<\/li>\n<li>\u5e74\u91d1\u30fb\u4fdd\u967a\u306a\u3069\u9577\u671f\u8ca0\u50b5\u3092\u6301\u3064\u6295\u8cc7\u5bb6\u306b\u9069\u5408<\/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-lm6\/\">LM6 Private Real Estate Investments\uff08\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u4e0d\u52d5\u7523\u6295\u8cc7\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 LM7\u300cInfrastructure\uff08\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\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":11257,"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-10911","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\/10911","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=10911"}],"version-history":[{"count":1,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10911\/revisions"}],"predecessor-version":[{"id":11084,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10911\/revisions\/11084"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media\/11257"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media?parent=10911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/categories?post=10911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/tags?post=10911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}