Research On The Legal Form Of Private Equity Fund

Private equity investment is a hot topic in the field of financial investment.It is just starting to expand in china's capital market.With the constant improvement of China's capital market, especially in the opening GEM, ushered in the development of private fund a major opportunity.However, choosing the best organization form is a private fund raising success of the operation of the primary premise of private funds.This as an opportunity for private equity funds and private equity funds in the form of legal organization of the legal issues related to a comprehensive comparison and discussion.Through our existing corporate, limited partnership, trust system of three private equity funds the organization of in-depth analysis and comparison,Private equity fund for China to select the best form of organization provides a number of recommendations, and in accordance with the article summary of the legislation related to defects in private equity funds raised a number of legislative proposals sound.This paper could be divided into four parts:The first part is an overview of private equity funds.This section introduces the concept of private equity and private equity fund concept,In the analysis of relevant concepts of the Fund on the characteristics of the private equity funds and private equity funds with similar risk investment funds, private equity funds, industrial investment funds, strategic investment fund for a comparative analysis.Discusses the similarities between the various funds and differences between points.This part also of the local development of private equity funds and legislative surveyed in detail, briefly introduced the development status of private equity funds.The second part is the private equity fund in China three tissues form and mode of operation of comparative analysis. On the one hand from the operation of this section, features and other aspects of corporate, trust system, the limited partnership form of organization of three private equity funds, a brief overview, then discusses the development of private equity funds and practice of the present situation. Finally, the contents of this section from the capital system, raising the threshold of the object, debt obligations, management, distribution of profits, the tax system and other aspects of corporate, trust system, the limited partnership private equity funds and made a comparative analysis Select the best private equity investors in the form of the Fund from the funds should be focused on efficiency, ease of raising capital program, exit channels, considering the tax cost of other aspects.The third part is the organizational form of private equity fund of rational choice. This part of the world from the analysis of the organizational form of private equity fund selection, analyzes the advantages of limited partnership and private equity investors in most countries as the preferred form of organization reasons. On this basis, the author detailed analysis of the implementation of the conditions of limited partnership and limited partnership obtained the status of the development situation in general is a limited partnership private equity fund of the best legal form of conclusions. Meanwhile, the author proposes in this part of the limited partnership is also not apply to any private equity fund and is not the only possible form of organization, in certain conditions, corporate private equity funds with the trust system is superior to private equity limited partnership Fund. Finally, the author concluded that organizational form of private equity funds should be to achieve the rational choice of three private equity funds, co-improved form of organization, and common development, highlighting the great advantages of limited partnership, highlighting the company system, trust the system in a particular case Special advantage. In practice the operation of the limited partnership based, the company produced its system and an important supplement to the Trust.The fourth part is the organizational form of private equity funds and improve the existing problems. This part of the legislative situation in our country and the development of private equity funds, private equity funds of the organization of some problems and put forward a sound proposal.