The Research Of The Establishment Of Guangdong Energy Saving Environmental Protection Industry Investment Fund

There is a huge contradiction between China’s economic development and energy saving. The stage of economic development and the resource endowments of Guangdong are typical and representative in China. This contradiction is relatively sharp in Guangdong. The development of low-carbon economy of Guangdong Province needs substantial funding. Bank credit provides the main funding and Guangdong have not set up the industry investment fund specifically to invest in energy-saving environmental protection industry. This article is intended to design a suitable launch and operation plan of the Guangdong Energy Saving Environmental Protection Industry Investment Fund to promote low-carbon economic development of Guangdong.Energy saving environmental protection industry in Guangdong Province has formed a relatively complete industrial system, and has developed fast. The funding of this industry in Guangdong relies heavily on bank. The funding support of venture capital of this industry is gradually strengthened in Guangdong, but it is still weak. Guangdong saving environmental protection industry financing faces many obstacles. Energy Saving Environmental Protection Industry Investment Fund is both necessary to set up also has feasibility.In fund start-up phase, this article suggested government guidance funds, energy saving companies and well-known private equity firms jointly set up this fund. Combined with the actual situation in Guangdong Province, Guangdong Strategic Emerging Industry Venture Capital Guiding Fund, Guangye Assets Management Co., Ltd and Jiuding Investment Management Ltd are the suitable promoters. The form of private funds is recommended and suggested organized as a limited partnership, the private equity investment institutions as the general partner, government guidance funds and energy saving enterprises as limited partners. The scale of the fund is set at 1.5 billion yuan and existence period set to 15 years. The general partner is recommended as the fund manager and the good reputation of the commercial banks as fund of funds custodianIn fund operational phase, this article recommended that in addition to follow the general investment program, this fund should invest more than 70% of the funds in energy-saving environmental protection enterprises in Guangdong Province, which are in the growing and development potential. This article suggested cut the performance pay into two pieses,fixed management fee and float management remuneration(management fee of 3% of the fund size of the collection and management remuneration floating extraction projects based on investment income after the withdrawal). IPO and M&A are suggested to be the priority withdrawal. Asset securitization should be seen as a way to explore.