A Study On The Operational Processes Of Private Equity Investment

In recent years, private equity investment fund developed rapidly in our country as a kind of innovative financing tools. China has become the most energetic private equity fund market in Asia, which caused Morgan Stanley, CDH, KKR,3i and other international leading private equity company’s attention. However, private equity investment entered into our country not long and is still in the primary stage, so that many people don’t understand the operation process of private equity investment, or a little learning. And the operation process of private equity investment is implemented well or not, which will be directly related to the success of private equity investment, and even related to the invested company’s future development. At present, many scholars have made studies on the operation process of private equity investment, but mostly from one certain aspect, such as the selection of investment project or exit mechanism, so there is no systematic and careful analysis of the operational flow. Moreover, almost defined the operational process of private equity investment from the view of capital flows, and be divided into "financing-investment-exit" three stages. However, the division seems be clear at a glance, but it don’t accord with the actual operation process.In view of this situation, combining with actual operation process of private equity investment, the thesis divided it into six steps from the angle of the project management: fund established, investment project selection, financing, investment, management and exit, so as to provide guidance to the private-equity practice, and enable more people to understand the whole operation process of private equity investment.Firstly, based on the theoretical studies at home and abroad, this thesis introduced the basic theory of private equity investment, and defined the operation process of the private equity investment separately from the capital flow Angle and project management Angle, which all lay a solid theory foundation for the whole research. Then, from the angle of project management, this thesis detailed every step to the private equity investment and the method to implement each step, so as to enhance the broad public’s understanding of the private equity investment operations processes, and make it more civilian. In addition, the thesis analysis the influence factors on operation process of private equity investment from the macro(related legal policy, regulatory supervision mechanism, the perfect degree of the capital market, the social credit system and environment), meso(fundraising sources, exit channels, organizational structure), microcosmic(intermediary service organization, the quality of the management team, Professional talents) three administrative levels, and put forward the corresponding strategies, in order to help the private equity investment operation process can be better implemented and better serve the national economic development.