| Private equity funds usually include Venture Capital investing in the seed of enterprises, Development Capital making the develop investment of enterprises, Buyout/Buyin fund participating in the merger investment, Bridge Finance investing in enterprises in transition period and so on.. Broad sense say, making the equity investment before listing on or enlisting enterprise belong to private equity funds.Study private equity fund can improve the function of the capital market, set up and amplify the market system of the capital; Promote the SOE reform, finish " the country retreats in China association for Promoting Democracy "; Improve micro business' operational efficiency, and then improve the whole operational efficiency of national economy; Promote new and high technology combine with financial capital, form value find mechanism and so on. As an enormous economy of the first in the world of GDP in the future, China must catch the opportunity, make great efforts to develop native private equity fund, August 2006 " Enterprise Law of partner" make and lighten restrictions on private equity fund legally.The thesis has been reviewed about the private equity fund's development both at home and abroad systematically; defined PE funds from concept, defined " private " and " private equity" difference; studied fund raising, organizational form, operation, supervise, withdrawing etc.; studied abroad PE funds' investment practice in China, raising to develop native PE funds' necessity, reality, feasibility etc., hoping to reach and use international experience for reference, develop the native PE funds in China.The thesis has been making the investment practice as core, using economics, management, systematic theory, econometrics scientific theory synthetically, adopting the analytical method combined in qualitative analysis and quantitative analysis, analyzing the theoretical research and real example to combine; from defining PE funds, seeking to find how to develop native PE funds. |
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