Research On Value Evaluation Of Private Equity Funds

The private equity investment fund is an important promoter of the real economy.It connects the two major fields of finance and industry,and realizes the efficient allocation of finance in the market,thus helping the economy to take off at a high speed.According to statistics from the China Securities Investment Fund Association,as of the end of October 2016,there were more than 17,000 registered private fund managers,more than40,000 private equity funds,and the subscription volume reached 9.13 trillion.Behind the rapid expansion of private equity investment funds,it also highlights the problems exposed by the entire industry,that is,the risk of sacrificing liquidity to obtain high returns.However,as an important way of investing,liquidity is an important factor that has to be considered in depth,providing a trading basis for the transfer of private equity investment funds.Then the transfer of private equity investment fund shares will depend on the improvement of the fund valuation system.! At present,the biggest reason hindering the development of China's private equity investment fund trading market is the difficulty in valuation pricing.Therefore,this paper studies the value evaluation of private equity investment funds,and aims to answer the following core questions: How should private equity investment funds be valued? Focus on those factors.This paper firstly reviews the characteristics of private equity investment funds,focuses on the business model and value creation mechanism of private equity investment funds,and focuses on the value composition of private equity investment fund evaluation.Secondly,it introduces the method of private equity investment fund evaluation.From two aspects,we will judge the overall value of the fund.First,we will start from the life cycle stage of the fund investment project portfolio to build a portfolio value model.Second,we will study the important impact of the impact of the fund from the operational mechanism(revestment and management).Factors,build a private equity fund evaluation system,and introduce a new concept fund value-added coefficient,and construct a new model of private equity investment fund evaluation.The new model consists of two parts.The former part is the focus of the whole model,which is the estimated of the invested projects.Valuation of the value and the value-added portion of the fund's assets,the latter two parts of the fund,as well as dividends and fund liabilities.Finally,we selected a private equity fund under the China Merchants Merchants Groupas a new model for the evaluation of the case.First,we will introduce the general situation of the fund,and then based on the evaluation system and model constructed above,the whole of the private equity investment fund.The value is assessed and determined.The innovation of the article lies in constructing the value evaluation system of private equity investment fund,introducing the value-added coefficient of private equity investment fund,constructing a new evaluation model,perfecting and improving the value evaluation of the fund,and finally summarizing and pointing out the full text.Insufficient,analysis of various reasons,research needs to be improved,and hope to improve and deepen in the future.