Study On Legal System Of Limited Partnership Private Equity Fund

There is always a gap in the legislation of Private Placement System in our country. But because of the great existence of private equity fund in folk, the legislation of Private Placement System has been carried on agenda. Limited Partnership, as the main form of organization, has been approved in legal form by a lot of countries, what shows the advantages of the system are remarkable. In China, Law of the People’s Republic of China on Partnerships promulgated in1997does not recognize Limited Partnership, that has restricted the development of local Private Equity Fund to some extent. It was not until the Law of the People’s Republic of China on Partnerships revised in August27,2006that Limited Partnership was recognized and Private Equity Fund of Limited Partnership was supported and regulated legally. However, there still are many questions of law in the developing process of Private Equity Fund of Limited Partnership. The reason is that the domestic market of Private Equity Fund is still in its infancy and lack of practical experience. Therefore, it is highly important to improve the legal environment in developing local Private Equity Fund.This thesis, mainly from an angle of law, explores the development, the legal characteristics and the advantages of Private Equity Fund of Limited Partnership, and its legal system in Britain and America. It also analyses the problems in legal system in China, and proposes the way to improve them in the light of the successful experience of America.