有限合伙型私募股权基金监管及合伙人契约关系研究

发布时间：2017-12-31 13:00

本文关键词：有限合伙型私募股权基金监管及合伙人契约关系研究　出处：《现代经济信息》2016年01期 　论文类型：期刊论文

【摘要】：私募股权投资基金(PE)是通过非公开方式募集特定对象(合格投资者)的资金并设立有限合伙企业的形式,采用收购或增发持有被投资企业的股权、利用较充裕的资金及先进的管理推动被投资企业发展来实现股权增值、再以股权转让或上市后出售的方式退出被投资企业以实现投资收益的一种投资模式。私募股权投资基金具有高风险、非公开、信息披露透明度不高、投资周期长等特性,投资人作为有限合伙人,出资额占私募股权投资基金的绝大全部,但不参与基金的管理运作,基金管理人(一般为普通合伙人)以少量货币或劳务出资,并以其专业知经验及职业素质为依托对基金进行投资事物管理。在此模式下,有限合伙人将大量资本委托给普通合伙人,并依据有限合伙协议及企业章程,对普通合伙人的管理行为进行有限度的干预,最大限度的给与管理人权限,因此有限合伙人在投资私募股权基金中面临着一定风险,对此类风险的研究成为必要。
[Abstract]:Private equity investment fund (PE) is to raise a specific object by non-public (QFII) funds and the establishment of a limited partnership form, the acquisition or holding enterprises invested in equity issuance, the use of more abundant capital and advanced management to promote the invested enterprise development to achieve equity value, an investment model to the transfer of shares or listed after the sale of the exit to the invested enterprises to achieve investment returns. Private equity funds have high risk, non disclosure, information disclosure transparency is not high, long investment cycle and other characteristics, as a limited partner investors, private equity fund investment accounts for most of all, but does not participate in fund management and operation of fund manager (general general partner) invested in a small amount of money or services, and with its professional knowledge and experience and occupation quality based on investment of the fund. Property management. In this mode, the limited partners will be a large number of capital entrusted to the general partner, and on the basis of limited partnership agreement and the articles of association of the enterprise, have a limited intervention management behavior to the general partner, giving people permission to maximize the management, so the limited partners in private equity investment fund is faced with certain risk, the study of this risk the necessary.

【作者单位】：厦门大学;
【分类号】：F832.51
【正文快照】： 一、导言狭义的私募基金,也称私募股权投资基金,是信托关系(或称委托代理关系)的前沿实务研究领域之一,基本组织形式有公司型、有限合伙型与契约型,其中我国以有限合伙型与契约型为主。有限合伙型基金组织方式实现了人力资本与货币资本的互补但独立的有机统一。而私募基金作为

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