摘要:20世纪90年代末以来,国际私募股权投资经过数十年的发展,已经成为仅次于银行贷款和IPO的重要融资手段。私募股权投资在我国有了长足的发展,在我国加快市场经济建设、稳定发展金融市场中起着积极的作用。本文通过对我国私募股权投资基金运作模式发展的现状的梳理,分析运作模式存在的问题,提出相应的对策建议。我国私募股权投资金运作模式主要存在的问题为,合作投资相对较少,决策团队力量相对匮乏,内部风险控制不到位,资金外部托管不规范,特别是资金监管问题。主要对策为,长期价值投资,注重企业经营,与其他企业联合,构建有效的投资团队,加强资金监管。本文主要针对这些问题进行分析,以寻求更好的运作机制。
关键词:私募股权;投资基金;发展;运作模式
Abstract:Since the late 1990s, the international private equity investment after decades of development, has become an important means of financing after the bank loans and IPO. Private equity investment in China has made great progress in China has accelerated the construction of market economy and stable development plays an active role in the financial markets. In this paper, the status of the development of the mode of operation of private equity investment fund combing analysis of the mode of operation of the existing problems, put forward the corresponding countermeasures and suggestions. The main problems of China's private equity investments with the mode of operation, co-investment is relatively small, the relative lack of power of decision-making team, internal risk control is not in place, funds externally hosted norms, especially financial supervision. The main countermeasures, long-term value investing, focusing on the business combination with other enterprises, to build an effective investment team, strengthen financial supervision. This article focuses on the analysis of these issues, in search of better operation mechanism.
Keywords:Private equity;Fund;Development;Mode of operation