私募股权投资基金

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统筹用好金融和政策工具 助力全区加快高质量发展
Sou Hu Cai Jing· 2025-07-13 02:29
《行动方案》指出,到2027年,力争统筹各类财政资金75亿元,带动全区财政贴息贷款投放6000亿元以 上、补贴融资担保业务1000亿元以上、发行信用类债券3000亿元以上。 《广西金融惠企三年行动方案(2025—2027年)》(以下简称《行动方案》)近日印发,将统筹用好股权、 债权、保险、融资担保等金融工具,综合运用贴息、奖补、风险补偿等政策工具,助力全区加快高质量 发展。 《行动方案》还提出,通过加大银行信贷投入力度、畅通企业上市(挂牌)和再融资渠道、进一步用好保 险风险保障服务、优化融资担保服务、更好利用债券市场融资功能等方式拓宽融资渠道。在加大银行信 贷投入力度方面,广西将用好用足结构性货币政策工具,力争平均每年运用支农支小再贷款、再贴现、 科技创新和技术改造再贷款等不少于1000亿元;统筹用好贴息资金,力争每年投放贴息贷款2000亿元以 上。在优化融资担保服务方面,广西将对融资担保机构提供担保增信的贷款给予0.2%至0.4%担保费率 补贴。在大力发展私募股权投资基金方面,广西将争取南宁市入围金融资产投资公司(AIC)股权投资试 点城市,推广合格境外有限合伙人(QFLP)试点。(记者韦静) 《行动方案》 ...
北京基金小镇研究院:2025私募股权投资基金投后管理研究报告
Sou Hu Cai Jing· 2025-05-23 00:27
Core Viewpoint - The report from Beijing Fund Town Research Institute provides an in-depth analysis of post-investment management in private equity funds, highlighting regulatory frameworks, industry status, key points, and development trends. Group 1: Regulatory Framework and Tax Rules - The regulatory framework for post-investment management of private equity funds in China is gradually improving, encompassing laws, administrative regulations, departmental rules, and self-regulatory guidelines. Key laws include the Securities Investment Fund Law, which clarifies the fiduciary duties of managers, and the Private Investment Fund Supervision and Administration Regulations, which strengthen information disclosure and accountability [1][2][3] - Tax treatment varies significantly based on the fund's organizational structure. For partnership funds, the "first distribute, then tax" principle applies, while corporate funds are subject to corporate income tax. Cross-border investments involve complex issues related to tax policies and agreements [1][2][3] Group 2: Post-Investment Management Practices and Key Points - Post-investment management encompasses multiple dimensions, including operations, risk, valuation, tax, and value-added services. Effective operational management requires proper information disclosure, profit distribution, and documentation management [2][3] - Risk management involves identifying, assessing, monitoring, and responding to risks, establishing a risk grading system, and employing financial analysis and legal compliance checks to mitigate risks [2][3] - Valuation methods for non-listed equity typically include recent financing price methods and market multiples, while debt and derivatives use discounted cash flow methods [2][3] Group 3: Characteristics of Different Fund Types and Industry Post-Investment Management - Strategic industry funds focus on specific industry characteristics, such as technology investment in the new generation of information technology, data compliance in artificial intelligence, and supply chain security in aerospace [3][4] - Cross-border funds face challenges related to regulatory differences, tax agreements, and exchange rate risks, necessitating optimized investment structures and compliance management [3][4] Group 4: Development Trends and Institutional Building - Domestic post-investment management faces challenges such as insufficient specialization and lagging digitalization, with future trends leaning towards systematization, transparency, and technological advancement [4] - The international market exhibits more mature post-investment management practices, emphasizing post-merger industrial operations and digital empowerment, with a deep integration of ESG investment principles [4] Group 5: Comprehensive Guidance and Strategy Reference - The report combines theoretical insights with case studies to provide comprehensive operational guidance and strategic references for post-investment management in private equity funds, aiming to enhance management levels and investment returns in the industry [5]