证券市场导报
證券市場導報
증권시장도보
Securities Market Herald
2011年
11期
72~77
,共null页
私募股权基金 组织模式 发展战略
私募股權基金 組織模式 髮展戰略
사모고권기금 조직모식 발전전략
private equity funds, organization model, development strategy
次贷危机的爆发，使得诸多国际私募股权基金纷纷转战中国，挖掘中国市场价值。当前，中国已经成为全球私募股权基金的投资中心之一。从我国私募股权基金市场的格局来看，目前已经形成了多种组织模式并存、参与者逐渐扩大化的态势。与传统的靠天吃饭的盈利模式不同，券商开展直投业务不仅有利于自身赢利空间的拓展，而且有利于发挥地域优势，针对中小企业的需求提供特色服务，其自身也具备一定的优势。本文沿袭这条思路，重点对我国券商参与直投业务的相关规定、券商开展直投业务的现状及其问题进行了讨论。
次貸危機的爆髮，使得諸多國際私募股權基金紛紛轉戰中國，挖掘中國市場價值。噹前，中國已經成為全毬私募股權基金的投資中心之一。從我國私募股權基金市場的格跼來看，目前已經形成瞭多種組織模式併存、參與者逐漸擴大化的態勢。與傳統的靠天喫飯的盈利模式不同，券商開展直投業務不僅有利于自身贏利空間的拓展，而且有利于髮揮地域優勢，針對中小企業的需求提供特色服務，其自身也具備一定的優勢。本文沿襲這條思路，重點對我國券商參與直投業務的相關規定、券商開展直投業務的現狀及其問題進行瞭討論。
차대위궤적폭발，사득제다국제사모고권기금분분전전중국，알굴중국시장개치。당전，중국이경성위전구사모고권기금적투자중심지일。종아국사모고권기금시장적격국래간，목전이경형성료다충조직모식병존、삼여자축점확대화적태세。여전통적고천흘반적영리모식불동，권상개전직투업무불부유리우자신영리공간적탁전，이차유리우발휘지역우세，침대중소기업적수구제공특색복무，기자신야구비일정적우세。본문연습저조사로，중점대아국권상삼여직투업무적상관규정、권상개전직투업무적현상급기문제진행료토론。
As the international financial crisis broke out, a number of international private equity fund investment institutions have moved into China. Nowadays, China has become the one of world＇s private equity funds centers. From the pattern of our current private equity fund market, it has shown the trend of that a variety of organizational models coexisting and the participants gradually increased. Different from the traditional profit model, the security companies will benefit from carrying out direct investment which could take geographical advantages for the needs of small and medium enterprises as well. This paper follows this idea, focuses on the requirements of direct investment in China＇s brokerage business, the current situations and some problems.
