(1) Corporate private equity fund is a form of stock investment company. The company is composed of shareholders with the same investment objectives, with the shareholders' meeting of the highest authority, the board of directors of the executive agency and the board of supervisors of the supervisory agency. Investors become shareholders of the company by purchasing the company's fund shares, and enjoy the right to participate in management, decision-making, income distribution and remaining assets distribution as stipulated in the Company Law.
(2) Trust private equity fund is a typical form of sunshine private equity investment through trust plan.
(3) The partnership private equity fund consists of general partners and limited partners. General partners are managers of private equity funds, and they are private equity funds jointly established with limited partners with no more than 49 people.
(4) The specific differences between corporate private equity funds and partnership private equity funds are as follows:
(5) The specific differences between partnership private equity funds and trust private equity funds are as follows:
2. Advantages and disadvantages of private fund company system, trust system and limited partnership system:
(1) Advantages of corporate private equity funds: it is not only conducive to gathering idle social funds for large-scale investment operations, but also conducive to resisting investment risks in the capital market, thus improving the return on capital gains; Disadvantages of the company's private equity fund: repeated taxation, that is, the company needs to pay various corporate income taxes, while investors have to pay personal income tax for dividends.
(2) Advantages of private trust fund: independent trust property and low operating cost of private trust fund; The shortcomings of trust private equity funds are: the relevant laws and regulations are not perfect.
(3) Advantages of partnership private equity fund: low threshold, less waste, wide investment and less tax. Partnership private equity funds do not need to set up private equity funds through trust companies, which reduces management links and avoids waste of resources; The disadvantages of partnership private equity fund are: because there is no fund custodian, it is difficult to ensure that the property of limited partners in the partnership will not be misappropriated and it is difficult to prevent the moral hazard of asset managers.
Extended data:
The characteristics of private equity funds:
(1) The return on equity investment is very rich. Once the invested company is successfully listed, the profit of private equity investment fund may be several times or dozens of times.
(2) Equity investment can provide all-round value-added services. Private equity investment not only injects capital into the target enterprise, but also injects advanced management experience and various value-added services, which is also a key factor to attract enterprises.
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