Study On The Legal Issue Of Regularization Of Raising Private Equity Fund

Private Equity Fund(PE)usually refers to the fund taking the equity of non-public companies as major investee.At present,China is in the stage of economic transformation and industrial adjustment,but the problems faced by for SMEs,such as financing difficulties and limited public investment channels,are still pending issues.As a significant financing channel for enterprises,PE grows and develops rapidly by virtue of its high efficiency,advanced management concepts and generous profits.Meanwhile,PE plays a huge role in adjusting China's economic structure,promoting industrial integration,facilitating capital market development,and controlling the transfer of industrial risk toward capital markets.However,the unsound legal system for regulating PE in China has hindered the healthy development of PE to a certain extent.The fundraising of PE is both the precondition for its effective operation and the starting point for the cycle as well as turnover of PE.Most of domestic studies of PE focus on the fields of economics and finance,and only a few studies research PE from the legal viewpoint,let alone the studies involving in the issue of fundraising.For this reason,this thesis studies by selecting the link most closely related to the sound operation of PE among the complicated PE involved legal issues,namely,the legal issues about fundraising.In the first part,the basic knowledge of PE is sorted out through case introduction.The second part introduces China's current legal and regulatory systems for PE fundraising.From perspectives of raising object and methods,the third part describes the status of PE fundraising under strict supervision in China.Based on analyzing the causes of the current fund-raising behaviors in PE industry,the fourth and fifth parts propose relevant suggestions for system improvement.In summary,this thesis discusses from five aspects including basic concepts,current system,existing problems and analysis,and the analysis of countermeasures.On the layer-layer progressive,this thesis expects to conduct some effective and reasonable exploration on China's PE fundraising system.