The Research On Operation Mode Of Infrastructure Fund In China

Infrastructure is the basis and security for the sustained national economic growth. Necessary Infrastructure will promote production efficiency, reduce production costs and improve the competitiveness of the investment environment, promote development of other industries, and thus promote the rapid development of the economy. The lack of infrastructure will become the bottleneck for economic growth. Infrastructure Fund is an important way for private capital to get access to infrastructure assets. It can be used to provide construction funds, improve the operational efficiency infrastructure, and increase the mobility of infrastructure assets.The development of Infrastructure Fund is only in recent years. So the research in this area is far from adequate. Most of the research in this field in our country is about the characteristics and recommendations of infrastructure funds. And the research related to the mode of operation are also mostly on the operational framework, and the descriptive analysis of investment processes. This paper made a deeper study of the mode of operation of infrastructure funds, hoping to promote the development of China's infrastructure fund both in theory and practice.From the respect of the characteristics of China's infrastructure industry, the research on the infrastructure fund's mode of operation in this paper is based on the theory of project financing, private equity investment funds and the practice of foreign infrastructure funds and the development of industrial investment funds of China. Some related issues in the process of establishment and fundraising such as the legal form of infrastructure funds, the investors of infrastructure funds, the management firms are analyzed, and then makes a further study at investment patterns and exit ways of infrastructure funds.