Research On The Legal Issues Of The IPO Exit Mechanism Of Private Equity Funds

Private equity fund refers to that who invests the unlisted enterprises via the form of private equity When there is the right time,the investors quit the invested enterprise.In the process of the whole investment,the investors involve in the management of the enterprise.The investors not only share investment income,but also bear investment risk.Private equity fund must make a reasonable balance according to the changes of the market to obtain ideal income.Then developing a flexible exit strategy and choosing an appropriate way of exit timing is very important for private equity funds.There are three main kinds of common exit ways initial public offering(IPO);the stake sale;bankruptcy and liquidation.Private equity investment fund to receive high returns,must be able to make the market to meet the requirements of the reasonable decision according to changes in the market,we must develop with the flexibility to exit the program,at the right time to choose the proper way to exit exit.Private equity investment funds are mainly the initial public offering(IPO);mergers and acquisitions;equity repurchase and transfer of shares and liquidation in five ways.In all the way in IPO has become the most ideal as a way out,if you can exit through this way,private equity investment institutions will get through any other than a way to get benefits Both high,and can promote the sustainable development of investment enterprises.This paper mainly puts forward suggestions based on the exit mechanism of China's private equity investment IPO problems,in order to benefit the development of China's IPO exit mechanism.The paper is mainly divided into four parts to discuss:the first chapter expounds the basic theory of private equity funds and the exit mechanism,understand the connotation of private equity investment fund,exit exit way and characteristics,analysis of advantages and disadvantages,which pave the way for the current situation;the second chapter in China's private equity investment fund exit mechanism exists as a starting point to clarify the risk existing in the development process;the third chapter of the American private equity investment fund IPO out of the contents of the system are introduced.The summary of China's private equity investment fund IPO exit mechanism for reference;the fourth chapter from the legal system,policy environment,market system and exit criteria put forward suggestions to improve China's private equity fund IPO exit mechanism.