Legal System Improvement Of Limited Partnership Private Equity Fund

Through analysis of the current system of limited partnership private equity fund, this paper found out that the legal system environment of the private equity fund need to further improve. There is no law focus on private equity fund in China now, and neither in limited partnership private equity fund, so it might waste the precious resources in capital market. It's a key point that how to set up a reasonable legal system to improve the legal environment for private equity fund. This paper also focused on the legal system of private equity fund aboard. Based on the study of its advantages, this paper try to give some contributions on legislation of private equity fund.There are three major sections in this context.The first part, through analysis of market allowance rules, this paper argues that the rules for private equity fund investors need to improve, which disturbs private equity fund's development.The second part, private equity fund's structure is outlined. Partnership Enterprise Law mainly rules general enterprise type, while private equity fund is a specific type. This paper highlights the analysis of the relationship of general partner and limited partner, and suggested that there should be a balance responsibility between them. The third part, this paper researched on the development of private equity fund legal system. Limited partnership private equity fund in practice is facing many legal obstacles, like credit system, tax issue, financing channels and the relationship of government and market. Base on these issues, this paper mainly discussed the improvement method and how to perfect the private equity fund law.