The Study On IPO Exit System Of Private Equity Fund In China

With the development of economic globalization,private equity investment funds have become an important financing channel,playing an important role in helping small and medium-sized enterprises to grow and develop,enhance the vitality of capital markets,and optimize resource allocation.China's private equity investment funds started late,but their development speed and growth momentum are considerable.Raising,investing,managing and exiting are four important aspects of the entire investment process.The most fundamental investment objective of private equity investment is to “return to market and buy for sale”.At the right time,through the appropriate exit method to achieve the withdrawal of the fund,the return on investment of the private equity investment fund can be guaranteed to the greatest extent.Among various exit methods,IPO has become the most popular exit method for private equity investment funds in China due to its high return on return and the accompanying increase in social evaluation and reputation.This paper focuses on the research of China's private equity investment fund IPO exit system as a research center,analyzes the reasons for the difficulty of China's private equity fund exiting,learns the advanced experience of extraterritorial maturity,and tries to propose some perfect measures.To this end,this article is mainly elaborated from the following five parts:The first part is the introduction.It analyzes and discusses the background and research significance of the research on the IPO exit system of private equity investment funds.It is of great practical significance to study the improvement of the IPO exit system of China's private equity investment funds.Through summarizing and summarizing the research results of domestic and foreign scholars on private equity investment funds,the paper analyzes their research opinions and suggestions.Finally,the research methods and innovations of this paper are briefly introduced.The second part systematically proposes the basic concept of private equity investment funds,and introduces the exit methods of private equity investment funds,namely,the initial public offering(IPO),mergers and acquisitions,equity transfer,listing of new three boards,backdoor,repurchase and liquidation.The purpose is to explain the exit system of private equity investment funds from a macro perspective,and then conduct a preliminary analysis of the IPO exit system to lay a solid foundation for the subsequent content of the paper.The third part introduces the IPO exit system of overseas private equity investment funds in the United States and Hong Kong,and analyzes and studies these systems,and summarizes the useful experience that can be used for reference.The fourth part analyzes the dilemma faced by China's private equity investment fund IPO exit system,takes IPO exit as the core,and deeply studies the problems and dilemmas faced by China's private equity investment fund IPO exit system,and proposes suggestions for the following.Make a good preparation.On the basis of the previous article,the fifth part will be based on the development status of the IPO exit system of China's private equity investment fund market,combined with the advanced experience of foreign countries,and proposes to solve the problems existing in the IPO exit system of China's private equity investment fund.In order to realize the improvement and development of China's private equity investment fund exit system.