Research On Risk Management Of M&A Fund In The Process Of IBO

M&A funds are one of the main forms of private equity funds,nowadays M&A funds have become one of the mainstream modes of mergers and acquisitions in mature European and American capital markets,but are not yet mature in our country.Also acquisition process of IBO studied in this paper is mainly through leveraged buyout to obtain the control of the merged company-which will help improve the operating efficiency of the company and optimize the capital structure.With the development of M&A funds in China,there have been some models with Chinese characteristics,such as the “PE + listed companies” funding model which usually using in State-owned enterprise reform,is more suitable for China's national conditions and the current level of development of the domestic capital market;in addition,As the national strategy guides funds to some high-tech capital-intensive industries,the merger and acquisition fund,as a combination of financial capital and industrial capital already,has advantages in many aspects.,but with the support of the national level,the development of specific industries such as semiconductors and the acquisition of overseas companies by overseas Chinese companies have increased weights.This paper hopes that through the actual case of the IBO process,combined with previous scholars' literature and theory as well as the domestic capital market and the development status of M&A funds.To identify the problems of the IBO process of Beijing Haowei,existing in the four stages of fund raising,investment,post-investment management,and exit,and then analyze the reasons for the problems in risk management,and finally address issues of different types and stages in the IBO process,from the internal and external supervision of M&A funds,propose corresponding risk management recommendations.