Current location - Trademark Inquiry Complete Network - Tian Tian Fund - There are several modes in the operation of M&A fund.
There are several modes in the operation of M&A fund.
Legal analysis: M&A funds mainly have five operation modes.

1, PE institutions contribute 1- 10%, listed companies or their major shareholders contribute 10%-30%, and PE institutions are responsible for raising the rest of the funds.

2.PE institutions contribute 1-2%, and listed companies or their major shareholders contribute the rest as a single LP.

3. The listed company (or other companies controlled by listed companies and major shareholders) and PE institution * * * jointly initiated the establishment of an "investment fund management company". The company set up an M&A fund as a GP, and the listed company contributed 20-30%, and the rest was jointly raised by the listed company and PE institution * * *.

4. Listed companies contribute 65,438+00-20%, structural investors give priority to 30% or more, PE institutions contribute less than 65,438+00%, and PE institutions are responsible for raising the rest.

5. Listed companies contribute less than 65,438+00%, PE institutions contribute 30%, and PE institutions are responsible for raising the rest.

Legal basis:

People's Republic of China (PRC) Securities Investment Fund Law

Article 44 A fund contract shall stipulate the mode of fund operation.

Article 45 The Fund may operate in closed, open or other ways.

Closed-end fund (hereinafter referred to as closed-end fund) refers to a fund whose total fund share is fixed within the term of the fund contract, and the fund share holder may not apply for redemption; An open-ended fund (hereinafter referred to as an open-ended fund) refers to a fund whose total share is not fixed and can be purchased or redeemed at the time and place agreed in the fund contract.

Measures for the sale, trading, subscription and redemption of fund shares of funds with other modes of operation shall be formulated separately by the the State Council Securities Regulatory Authority.