Private Equity Investment Fund Exit For Research

Private equity funds as a new mode of investment and financing in the capitalist market developed in the United States. Since reform and opening up, China’s economy has been rapid development, private equity investment fund in our country from the initial exploration stage of transition to the preliminary stage of development, not only promotes the perfection of the capital market in China, also provides a new development channel for enterprises to raise funds. Private exit mode mainly through public, merger and acquisition exit, share repurchase liquidation and exit. In practice, mergers and acquisitions are relegated to the category of equity transfer. This article will focus on analysis of exit ways out of equity transfer mode for IPO moratorium on stage with the advent of the financial crisis and listed conditions is higher, equity transfer this exit mode gradually began to be adopted by enterprises. This paper analyzes the advantages and disadvantages and development trend in our country, the investors in private equity’s most safety, the biggest benefit, and can protect the stability of the market, implementation "investment-exit-investment" circular economy development model.This article will analysis respectively from five parts:The first part from the article selected topic background and significance, research status at home and abroad, the main research contents and innovative points is presented in three parts. Private equity investment fund in our country along with the development of the national economy in our country’s capital market gradually occupied the main position, and exit a mechanism study of literature is not very thorough, focus, our country is faced with difficult exit way, relevant laws and regulations is not sound and so on a series of influence factors. On this basis, this paper studies the some domestic and foreign scholars on the exit way choice of academic ideas, combining the actual realities of our country, draw lessons from foreign advanced experience, so as to promote the improvement of the private equity investment fund exit way. This paper refer to relevant laws and regulations as well as access to a lot of knowledge of finance, including the choice of the ways of exit proportion and so on in recent years, thus promote the completion of the whole paper.The second part is a summary of private equity investment fund exit way. Although private ultimate goal is to get a high profit margin, the yields of listed out is the best choice in the exit ways, but the way choice IPO exit when faced with a very strict laws and regulations restrict, yields the highest risks at the same time also is the highest. First parsing from the concept of private equity funds and private equity investment fund exit of meaning, fundamentally to distinguish the difference between the two, front matting for below account. Secondly introduces a comparison between private equity funds to exit ways, analysis the advantages and disadvantages of each exit way and thus lead to the argument of this article-private equity investment fund exit of equity transfer mode. Our country at present the main exit channel is still use stock transfer out more. Compared with IPO equity transfer this exit manner, although yields lower, could also increase the entrepreneur’s personal debt, but this way will not make the enterprise’s management losing control, and clear property right relations, can save a lot of time and cost, simple and efficient, suitable for small and medium-sized enterprise development pattern. Equity transfer is not the IPO yield is high, but the process is simple, low cost, investors can achieve certain returns in time, money also can complete out entirely, for small and medium enterprises restricted by IPO, sale is the only way to exit the success, merger and acquisition is easily accepted by entrepreneurs and investors.The third part from the exit of private equity funds equity transfer in our country’s present situation and the existing legal barriers are discussed. Exit mechanism of private equity development in our country is still not perfect, there are a lot of problems, on the equity transfer this way out not just because of legal barriers, as well as entrepreneurs in the exit way on the attitude of the choice and the causes of some realistic factors affecting the development of the stock transfer out.The fourth part analyzes the development of foreign equity transfer out, summarizes the enlightenment to our country. Mainly from the United States, Germany and Japan three different patterns of national economic development are summarized. Although the United States has most of the listed companies choose to quit, but public is not necessarily suitable for any company, for some countries, the sale may be to maximize the value of mergers and acquisitions also may be other patterns. German and Japanese companies choose equity transfer more way out, in this sense for the perfection of equity transfer exit way in China has a positive reference.The fifth part expounds stake in private equity funds exit for advice. Aiming at the current status and development of private demand, the development of the western developed countries for reference system, and put forward reasonable suggestions for China’s economic development, to better promote the development process of private equity investment fund in our country. This part focuses on Suggestions to perfect the system of share repurchase in the company law, formulating special suitable for private share buybacks, expand the scope of repurchase and conditions. At the same time to improve the property rights trading market, to establish a national property right trading platform and special specifications of property rights trading laws and regulations.