Research On The Operating Mode And Risk Of " Listed Company+PE" M&A Fund

With the rise of mergers and acquisitions in recent years and the constant improvement of the relevant regulatory policies in China,as an important part of the transaction,the transaction structure has appeared many innovative schemes,and the manipulation and operation are becoming more and more mature."Listed Company + PE" type M & A Fund is gradually becoming a hot spot in the capital market and has been widely concerned.However,due to the late start,its mode of operation is not yet mature,there is still a big risk in the practical operation.Therefore,this paper starts from the theoretical research,summarizes the domestic and foreign research results,and analyzes the current mode of operation of such funds from the perspective of fund establishment,investment management,investment decision-making,exit channels and profit-making methods based on this theory,identifies the major existing risks,selects China's largest ophthalmic chain-Aier Eye Hospital has partially withdrawn from the fund as a research object,through the way of case study,analyzes its operation mode and financial status,summarizes the success factors and the problems exposed in this case,and puts forward the relevant operation mode and risk control suggestion for China's "listed company + PE" type M & A fund.The research of this paper shows that there are mainly financial risk,principal-agent risk and information disclosure risk in the operation mode of "Listed Company + PE" type M & A Fund.With the analysis of the case and the current economic and political background in our country,risk control can be carried out by building a risk-based management and operation system and strengthening external regulation and information disclosure.