A Study On The Merger And Acquisition Of Private Equity Funds

Private equity investment funds through equity investment capital premium for fund shareholders to create revenue,after the fund managers continue to invest through the exit to achieve the realization of equity returns,the general operation process consists of raising funds,investment,management and exit of investment in four parts,with China's rapid economic growth.The role of private equity funds in China's financial market has become increasingly prominent,in the four part of the operation flow in the exit is a key part of the one.M & exit,exit,exit IPO repurchase and bankruptcy liquidation is the main way in the western countries developed capital market,mergers and acquisitions of private equity investment fund exit is the most important way to exit,at present,China's private equity investment fund mainly IPO exit,mergers and acquisitions exit share is very small,but with the enterprise a limited number of IPO and the Audit Commission for the IPO power is more and more strong under the situation of domestic market,PE through the IPO exit of the target enterprise is also gradually increased.However,with the registration system reform,IPO exit investment return rate decreased gradually and tended to be stable,IPO exit advantage is no longer as before,with the country in recent years,the introduction of a number of mergers and acquisitions in support of regulations and policies,and mergers and acquisitions out of their own unique advantages,in the future there will be a huge merger exit growth space.This paper first introduces the theory of domestic and foreign private equity investment fund and the exit status quo at home and abroad are described,discusses the purpose and significance of this topic;secondly,discusses the related theory of private equity investment fund mergers and exit,exit to the main type of comparative analysis,analyzes the main influence factors of mergers and acquisitions exit;then that in recent years,China's private equity investment fund raising,investment,exit and the reasons were discussed,and the IPO exit and exit the merger to do a comparative analysis;case background,moreover of the parties involved in the merger of Silicon Valley paradise Steyr the analysis and design of the acquisition plan and the exit process detailed description,illustrate the effectiveness and efficiency of the merger exit,can hope for the private equity investment market Finally,in order to promote the development of China's private equity industry better and faster,some constructive suggestions are put forward.