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论文编号：	10322
作者编号：	2120152868
上传时间：	2018/12/5 22:30:22
中文题目：	合盈资本私募股权投资策略优化研究
英文题目：	Research on the optimization private equity investment strategy of Heying Capital
指导老师：	林润辉
中文关键字：	合盈资本；私募股权；投资策略；优化
英文关键字：	Heying Capital; Private equity; Investment strategy; Optimization
中文摘要：	私募股权投资业作为金融业的一个分支在促进企业发展、优化资源配置、改善金融环境等方面发挥着重要作用。我国的私募股权投资业务相比发达国家起步晚，但随着近些年来我国宏观经济的快速持续发展，私募股权投资业务在规模上呈现出迅猛的增长。私募股权投资相比银行、信托等传统金融业务有着明显的高风险、高收益的特点，在吸引了大量传统金融机构涉足的同时吸纳并培养了大量的专业人才。 2017 年以来，国家金融体系改革不断深化，IPO 审核趋严，资管新规出台，在一系列去杠杆的背景下，私募股权投资机构迎来了巨大的挑战。从项目退出难到募资难，各机构均不得不在一定程度上调整原有的投资策略，笔者所在的投资机构——合盈资本同样如此，面临基金到期无法正常退出、收益率不达预期等方方面面的压力。 笔者在研究过程中首先对所研究的私募股权投资策略的定义、特点及分类在概念上进行了界定；然后回顾并梳理了国内外学者在此领域的一些研究成果；从第三章开始，笔者先对本人所在合盈资本的整个私募股权投资业务运作模式和投资策略进行介绍，然后提炼出公司现存投资策略的问题和成因；籍此在第四章笔者从私募股权投资策略中最核心的投资领域、投资阶段、投资地域三方面提出有针对性的优化方案；为保障策略优化效果，文末提出一些保障措施。 笔者所在公司所面临的挑战是绝大多数私募股权投资机构的共同难题，因此针对本机构的解决方案对类似机构乃至整个私募股权投资业均具有一定的参考意义。在此，希望各股权投资机构能顺利战胜挑战，为优质企业的成长提供更多的帮助，也为国家经济的腾飞多做贡献！
英文摘要：	As a branch of financial industry, private equity investment plays an important role in promoting the development of enterprises, optimizing the allocation of resources and improving the financial environment. Compared with developed countries, China's private equity investment business started late, but with the rapid development of China's macroeconomic in recent years, the scale of private equity investment business has shown rapid growth. Compared with the traditional financial business such as bank and trust, private equity investment has the obvious characteristics of high risk and high return. It attracts a large number of traditional financial institutions and at the same time, it also absorbs and trains a large number of professionals. Since 2017, with the deepening of the reform of the national financial system, the tightening of IPO audits and the introduction of new capital managementregulations, private equity investment institutions have met a huge challenge in the context of a series of deleveraging. From the difficulty of project withdrawal to the difficulty of fund raising, institutions have to adjust the original investment strategy to a certain extent. The same is true of the investment institutions where I belong, facing the pressure of fund expiration can not normally withdraw, yield is not up to expectations and other aspects. In the course of the study, the author first defines the definition, characteristics and classification of the private equity investment strategy, and then reviews and combs the research results of domestic and foreign scholars in this field. Starting from the third chapter, the author first introduces the operation mode and investment strategy of the whole private equity investment business of the company, and then refines the problems and causes of the existing strategies of the company. In Chapter Four, the author puts forward a targeted optimization scheme from the core investment field, investment stage and investment region of private equity investment strategy. In order to ensure the effectiveness of strategy optimization, some safeguards are put forward at the end of this paper. The challenges faced by the author's company are the common problems facedby most of the private equity investment institutions, so the solutions for this institution have a certain reference significance for similar institutions and even the whole private equity investment industry. Here, I hope that all equity investment institutions can successfully overcome the challenges, provide more help for the growth of high-quality enterprises, but also for the national economy to make more contributions to the leap!
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