Research On Real Estate Private Equity Fund In China

In recent years, macro policies of regulation in the real estate industry frequently occur. All of macro policies have an enormous effect on real estate development enterprises deeply. Diversification of financing channels has become an inevitable trend in the real estate industry. On the other hand, huge amount of private capital and wealthy people in China are seeking safe and feasible investment channels. As an important part of the real estate finance, since 2010 real estate private equity funds develop rapidly in China.This paper adopts comparative study and empirical methods. Firstly this paper analyses the meaning, classification and characteristics of the real estate private equity funds, and then summarizes developing experience of the overseas in real estate private equity funds. Secondly this paper analyses form of real estate private equity funds, and indicates that limited partnership form is the best for the real estate private equity funds. Meanwhile the four steps which are raising, investment, management and exit and structural distributions of profits are studied according to the case in paper. Thirdly environment of the real estate private equity funds are studied as well as beneficial and unfavourable factors in domestic. On the basis of studies this paper proposes development orientation and policy recommendations for the real estate private equity funds.Finally, policy recommendations are proposed,including improving regulations, permission for organization investor entering the real estate private equity funds, developing multilayer stock market for exit of the real estate private equity funds, cultivating professional man. It is expected that policy recommendations can play a reference role in the development of the real estate private equity funds in China.