本文選題：私募股權投資母基金 + 基金中基金　； 參考：《廣東財經(jīng)大學》2017年碩士論文

【摘要】：隨著全球經(jīng)濟從商品經(jīng)濟逐步進入以資本推動為主導的科技創(chuàng)新經(jīng)濟,私募股權投資已成為資本市場上最具影響力的主體之一,對推動經(jīng)濟發(fā)展起著不可忽視的作用。我國私募股權投資行業(yè)在2015-2016年爆發(fā)式發(fā)展后,截止2016年上半年,私募股權基金的管理資本規(guī)模已達6萬億,成為全球第二大私募股權投資市場。從美國股權投資的發(fā)展歷程來看,私募股權投資的出現(xiàn)支持了實體經(jīng)濟并促進創(chuàng)新創(chuàng)業(yè)企業(yè)的快速發(fā)展,而私募股權投資母基金(PE FOFs)是私募股權基金行業(yè)發(fā)展到一定階段的產(chǎn)物。本文首先從PE FOFs行業(yè)發(fā)展概況和問題分析、對廣州H公司的業(yè)務現(xiàn)狀、公司發(fā)展PE FOFs的SWOT分析以及未來發(fā)展機遇進行一個較為全面的應用梳理,結合相關理論知識和工作實踐經(jīng)驗,在前人對于私募股權投資研究成果基礎上,運用規(guī)范研究、比較研究、邏輯推理、案例分析法等研究方法來探討公司如何因勢導利切入發(fā)展PE FOFs,并制定該業(yè)務創(chuàng)設實務和投資戰(zhàn)略。從總的戰(zhàn)略規(guī)劃、組織形式選擇和模式設計、創(chuàng)始合伙人選擇、運作流程設立、典型條款設立等方面創(chuàng)設PE FOFs。制定廣州H公司的投資策略,包括資產(chǎn)配置策略、選擇子基金管理人策略、募集策略、投后管理策略和退出策略。結合實踐過程中的反饋和評價提出相應的改進建議。最后對文章進行總結,認為廣州H公司在PF FOFs方面有廣闊的發(fā)展前景、公司專業(yè)化運作PE FOFs符合行業(yè)趨勢、PE FOFs國際化運作是公司的機遇、PE FOFs的投資群體將擴展、市場化PE FOFs是民營資本重要出路。雖然PE FOFs行業(yè)的困難和挑戰(zhàn)依然存在,但PE FOFs也會促進股權投資行業(yè)更良性的發(fā)展,加劇行業(yè)的優(yōu)勝劣汰。
[Abstract]:With the global economy gradually moving from commodity economy to capital-driven science and technology innovation economy, private equity investment has become one of the most influential subjects in the capital market and plays an important role in promoting economic development. After the explosive development of China's private equity investment industry in 2015-2016, by the first half of 2016, the size of private equity funds' managed capital has reached 6 trillion, making it the second largest private equity investment market in the world. From the perspective of the development of American equity investment, the emergence of private equity investment has supported the real economy and promoted the rapid development of innovative and entrepreneurial enterprises. Private equity investment parent fund PE FOFs is the product of the development of private equity fund industry to a certain stage. In this paper, first of all, from the general situation of PE FOFs industry development and problem analysis, the present business situation of Guangzhou H Company, the SWOT analysis of PE FOFs development and the future development opportunities of Guangzhou H Company are analyzed. Combined with relevant theoretical knowledge and working experience, on the basis of previous research results on private equity investment, the use of normative research, comparative research, logical reasoning, Case analysis and other research methods to explore how the company to develop PE FOFs, and to formulate the business creation practice and investment strategy. Create PE FOFsfrom general strategic planning, organizational form selection and pattern design, founding partner selection, operation process establishment, typical clause establishment, etc. To formulate the investment strategy of Guangzhou H Company, including asset allocation strategy, sub-fund manager strategy, fund-raising strategy, post-investment management strategy and exit strategy. Combined with feedback and evaluation in the process of practice, the corresponding suggestions for improvement are put forward. In the end, the author concludes that Guangzhou H Company has a broad development prospect in PF FOFs, and the professional operation of PE FOFs is in line with the industry trend. The international operation of PE FOFs is an opportunity for the company to expand the investment group of PE FOFs. Market-oriented PE FOFs is an important outlet for private capital. Although the difficulties and challenges of PE FOFs industry still exist, PE FOFs will also promote the more benign development of equity investment industry and aggravate the survival of the fittest industry.
【學位授予單位】：廣東財經(jīng)大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F832.51

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