Research On Operational Risk Control Of Buyout Funds Of Tiantang Dakang

“PE+listed Company” Buyout Funds as a financial innovation under the new economic situation,it has become popular around the country after its rise.However,behind the prosperity of the surface,there are many problems in this new pattern of the buyout funds.In practice,differences in organizational forms,weakness in internal control and lack of legal supervision,result in the accumulation of a large number of risk factors.Based on this,this paper takes Tiantang Dakang,the first “PE+Listed Company” Buyout Funds in China,as the research object,and studies the problem of risk control,in order to obtain useful references to improve the risk control system of the new pattern buyout funds.First,this paper begins with the case of Tiantang Dakang,introducing the basic situation of Tiantang Guigu,Dakang Muye and Tiantang Dakang,meanwhile reviewing the project investment of it.Secondly,Combined with the general situation of buyout funds and the actual operation of Tiantang Dakang,the author analyzes the risk of it in two dimensions,the whole layer and the process layer.Based on the whole layer,the risk is mainly embodied in the system risk and the principal agent risk.Based on the process layer,the risk in the five stages of establishment,financing,investment,investment management and exit have different manifestations.Thirdly,according to the existing information,the existing risk control system of Tiantang Dakang is studied from two aspects of internal control and external supervision in this paper.Last,connecting with actual situation,the paper makes evaluation on this system,and puts forward proposals.The paper holds that “PE+Listed Company” Buyout Funds is still in the initial stage in China,and the existing risk control system can’t meet actual application for its defects,so it should be perfected in management and legislation.