What are the ways to raise private equity funds? There are many ways to raise private equity funds. Please refer to the documentation link for details. I hope I can help you. What are the procedures for raising private equity funds? Prepare the information of registered private equity companies first and set up the preparatory committee.
1. Start preparing to register the XX equity private equity fund (hereinafter referred to as the fund).
First of all, the person who intends to launch the fund (natural person or legal person) chooses to be the fund sponsor independently or jointly with friends (unlimited number, legal person or natural person, but at least one natural person).
Then the sponsors jointly select several ideal names as the names of the future fund after its establishment, then select who will be the managing partner of the fund, the investment direction of the fund, the amount of funds raised in the first phase of the fund (the sponsors need to prepare their own funds of 1% of the total raised funds), and finally determine the working place after the fund is established (it is appropriate to obtain local support).
2. After the above materials are prepared, the sponsors start to set up a preparatory group or committee for private fund raising, and define the members and division of labor.
3. Determine the target and investor groups raised by the fund (see the article "Revealing the profit model of PE" for details), that is, the range of investors (limited partners) to be introduced by the fund.
4. Make relevant documents, including but not limited to: initial contact email, fax content, or telephone contact content; Introduction of fund management team and fund investment direction; Draw up the name of the fund and make the prospectus; Prepare a partnership agreement.
5. Contact and contact with fund investment groups, explore investors' willingness to invest, and send instructions for raising funds to interested parties.
6. Hold a briefing to confirm the initial intention of the participants to subscribe for shares and make statistics.
7. Further communicate with interested investors, sign the confirmation letter of subscribed capital contribution, and judge whether it meets the establishment criteria (the subscribed capital contribution reaches more than 70% of the scheduled fundraising amount).
8. If it meets the establishment criteria, the fund recruitment preparatory group or preparatory committee will start registration and name pre-examination at the industrial and commercial bureau in the designated area. At the time of pre-approval, it shall be filed according to the limited partnership. Finally, the fund is stated in the business license as: XX Investment Management Center or XX Investment Company (limited partnership).
9. At the same time of pre-signing, if the fund partners are willing, they can start planning to contact the local financial authorities to win the support of the local authorities (65,438+00%-20% of the total fund will be given free of charge).
2. Hold the first shareholders' meeting of private equity funds and choose the custodian bank.
After the name of 1. is approved in advance, the first shareholders' meeting of the fund will be held to confirm various legal documents necessary for the establishment and development of the fund. Initiate the establishment of a fund investment decision-making committee. Determine the articles of association and personnel of the fund investment decision-making Committee and confirm the external fund management company.
2. The managing partner of the Fund and the external fund management company shall prepare all the materials required by the Fund at the time of industrial and commercial registration (including: capital contribution confirmation, partnership agreement, enterprise establishment registration, power of attorney, proof of office location, copy of enterprise ID card or business license, photos of managing partners, etc.). );
3. After the materials are prepared, the executive partner and the external fund management company are responsible for submitting all the registration materials to the industrial and commercial department to complete the registration;
4. The person in charge of the fund investment decision-making committee, the executive partner and the person in charge of the external fund management company make substantive contact with the competent department of * * *, and submit the fund establishment plan and the support plan that * * * hopes to give to * * *. If the fund can get the support of * * * *, it can get substantial help in many businesses in the future (matching the funds given by * * * *; * * * Matching loans given by banks with help; * * * Low-cost land assistance; Financial subsidies granted by * * * in national policies; Tax incentives, etc. ), if you want the fund to get the support of * * *, the plan to set up the fund can be written that the direction we are going to invest is consistent with the future development direction of * * *.
5. Select the custodian bank for the future fund investment, contact the bank and sign the intention agreement.
Third, obtain a business license and plan the press conference.
1. The fund obtains a business license, opens a bank account and completes the tax registration procedures of the fund;
2. The external fund management company and the person in charge of the investment decision-making committee * * * discuss the external press conference for planning the establishment of the fund;
3. Continue to contact the financial department of * * * to confirm the support of * * * for the Fund.
Four. Hold a press conference to confirm the future investment direction of the fund.
1. The planning of the fund conference was completed, and the operation schedule, implementation plan and objectives of the conference were approved by the investment decision-making committee;
2. The meeting will be operated and implemented by an external fund management company;
3. The external fund management company seeks and confirms the first investment direction of the fund in the future and submits the basic information of the project to be invested to the investment decision-making committee.
Five, seriously study and discuss the direction of investment.
1. The external fund management company conducts due diligence on the proposed investment project, makes corresponding investment feasibility study and business plan and submits them to the investment decision-making committee for discussion;
2, the investment decision-making committee to understand the whole situation of the proposed investment projects and conduct research;
3. At the same time, the external fund management company began to build a copy of the fund company's internal management system;
4. External fund management companies began to conduct comprehensive project contact, investigation and research on the investment direction;
5. External fund management companies began to establish a comprehensive fund operation management system process (personnel) preparation.
Six, after the project vote, began to raise funds.
1. After the investment decision-making committee selects the project, it can generally notify the custodian bank to make investment preparation after obtaining the consent of more than two-thirds of the members;
2. The chief financial officer appointed by the fund management company and the fund * * * enters the proposed investment project, and the chief financial officer has a veto power over the project funds;
3. The chief financial officer submits the capital flow to the investment decision-making committee every week, conducts regular audits on investment projects every month, and invites external independent audit firms to issue independent audit reports on the projects every quarter;
4. The managing partner and the investment decision-making committee began to contact the existing capital market in a large area to obtain information, learn experience and integrate resources;
5, the fund management company to assist the investment decision-making committee to continue professional learning, improve the overall financial professional level of members.
The above is the introduction of the specific process of private equity fund raising, hoping to help everyone. Interested friends can continue to pay attention to us. An Credit Fund column will provide you with the latest fund investment knowledge and fund financing information, and I believe it will certainly provide you with corresponding reference and help.
What are the purchasing processes of private equity funds? What are the purchase channels of private equity funds? What are the purchasing processes of private equity funds?
1. Pay attention to choosing a good fund manager before buying a private equity fund. Before investing, it is best to have a certain understanding of the fund company, that is, the fund manager, mainly whether the fund manager has good fund management ability and whether the team is stable. These are all security factors that need to be considered, and they are also essential in the process of purchasing private equity funds.
2. Find a trust company. In China, most private equity funds are issued through trust companies. Investors entrust funds to trust companies, and then trust companies hire private fund management companies to manage the actual operation of funds. Then the funds will also be managed by the custodian bank. Finally, the report on fund operation, including net value, will be released on the platform of the trust company.
3. In terms of capital security, there is no third flow from the capital account to the trading account of the securities company, and then from the capital account to the account where the customer pays. To say the least, even if the trust company goes bankrupt, this special-purpose fund asset belongs to the fund holder and has nothing to do with the trust company. So there is no financial security risk. Private equity funds cooperate through trust company platform 1 1 year. So far, there is no financial security risk. This is a very important private equity fund purchase process.
4. Choose the type of investment. Choose the type of private equity products to invest in according to your own situation. Private equity funds mainly invest in stocks, bonds, funds and central bank bills. Now some private equity products on the trust platform can also invest in stock index futures, and some private equity products issued through limited partnerships have a wider investment scope.
Private equity fund purchase channel
Private placement products can be purchased through third-party private placement guides such as trust platforms, private placement companies, banks or good buy funds. Third-party private shopping guide is recommended here, because the net value of private placement is generally disclosed weekly or monthly, and some private placements are disclosed quarterly. Some third-party private equity institutions, such as Good Buy Fund, disclose the net value of products to investors by SMS or email every time, which is very convenient. It is worth mentioning that the published net value has been deducted from the performance commission and management fee.
What are the channels for purchasing private equity funds? Hello, at present, the main sales channel of private equity funds is securities companies.
Of course, fund companies themselves will also open up direct sales channels.
What are the fundraising channels of domestic private equity funds? Comparison of Capital Cost of Six Common Financing Channels in China
bank
Funds put into the bank: In the second half of 20 13, the annualized rate of return of bank wealth management products is about 5. 1% (including Internet wealth management tools such as Yu 'ebao and WeChat wealth management), and investors have no threshold.
Lending bank: the annual interest rate of the loan is about 7% to 10%, and the total loan cost is about 8% to 12% with hidden costs, such as loan transfer fee and third-party agency fee.
Case: Yu 'ebao packaged 250 billion fragmentary demand deposits and "bought" large bank deposits. The annualized rate of return for half a year exceeds 4.9% on average.
trust company
Trust funds: The sources of trust funds include individual investors and institutional investors. Among them, the funds of individual investors are generally raised through third-party wealth management and private banks; Generally, the number of individual investors is around 3 million, and the average income is around 8.8%. The cost raised by the third party organization is about 2%, and the total cost of fund raising is about 1 1%.
Capital lending trust: including various expenses, the total financing cost is generally between 13%-20% annualized. The average single loan financing is 65.438+0.9 billion yuan.
Case: "Chengzhi Jinkai 1" is the most important trust among the top 3 billion trusts. Through the relevant implicit guarantee, investors withdrew with an average annual yield of 7%, with a per capita investment of 4.28 million yuan. It is 3 points lower than the original annual rate of return 10%.
Fund subsidiary
Investment of funds: the funds of fund subsidiaries mainly come from individual investors and are generally raised through third-party financial institutions; Generally, the single investor is around 654.38+00,000, and the average annual rate of return is around 654.38+00%. The raising cost of third-party institutions is about 3%, and the total raising cost is about 13%.
Capital borrowing: the financier carries out financing through the fund subsidiary, with the total cost of about 15%-24% per year, and the single financing amount is generally between 30 million and 200 million yuan.
Entrusted loan in stock market
Capital investment in the stock market: In 20 13 years, the average return on investment of A-shares is about 8% per year, about 20% of the shareholders reach the income level of 8%, 30% of the shareholders protect their capital and 50% lose money.
Borrowing funds from the stock market: Many listed companies issue entrusted loans to other enterprises through banks. The average annual total financing cost is about 15%, and the single loan financing is between 50 million and 500 million yuan.
Case: 2065438+2003 65438+2003, Panda Fireworks Group Co., Ltd. announced that it entrusted Jiujiang Bank Guangzhou Branch to issue entrusted loans of 65438+300 million yuan to Chuangshijie (Guangzhou) Media Development Co., Ltd., with an annual interest rate of 12% and quarterly interest payment.
privately offered fund
Funds investing in private placement: The average annual rate of return of debt-based private placement funds is about 12%, and the average annual rate of return of equity is about 15%. The investment threshold is extremely high, generally more than 6,543,800 yuan, which is risky, and investors and financiers bear part or part of the risks.
Private equity fund: The total cost of project financing is about 24% per year. The amount of single financing is generally between 50 million and 5 billion yuan.
Case: In 20 1 1 year, the scale of funds raised by Xinghao Capital Phase I (stock fund) reached 3.7 billion yuan, and the minimum capital of a single investor was 30 million yuan. The project roadshow assumes that the annual return rate may be close to 35% in an ideal situation. 20 14 announced that the expected rate of return may return to the market, with an annualized rate of 16%.
P2P lending
Capital investment: There are great differences in online and offline, amount, operation mode and guarantee mode, but most of them are raised from the private sector, and the capital cost ranges from 8%- 15%.
Capital lending: divided into investment projects or personal loans. If the institution investing in the project itself does not have the qualification of small loans, there is a risk of illegal loans. However, investors have to face the situation that the amount of funds is small and a lot of business is needed to promote the scale.
Case: In 20 13, a large number of P2P companies ran away and closed down, but the "backstage" platform left by big waves and sand scouring had many outstanding achievements. CreditEase, with the largest domestic assets, 14 Renren loan with A round investment, lufax with bank background, and Huiren loan supported by large private enterprises all have risks.
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Private equity funds are not allowed to publicize, so they are all marketed through telephone sales, high-end cocktail parties, banquets or investment strategy meetings.
What conditions do private fund raisers need? First of all, a private equity license is necessary. Secondly, it can be found in official website and China Fund Association.
One thing is very important. According to national laws and regulations, the starting investment threshold of private equity funds is 1 million, so you should be careful when investing less than 1 million in the market. I specialize in private placement and p2p, and I can provide more help. Hope to adopt or ask.
What are the main bodies of private equity funds? The types of private equity investment funds mainly include: A. growth funds. Invest in growing enterprises. M&A fund. Investing in stable growth enterprises mainly by holding shares can usually provide financial statements that reflect profitability or potential for more than three consecutive years, and help the acquired enterprises establish their market position through internal restructuring and industry integration. C. restructuring the fund. Focus on providing financial assistance to enterprises caught in the financial crisis. Mezzanine fund Usually in the form of a combination of stocks and bonds to invest in enterprises that are in a stable growth period before listing. E. real estate funds. Direct investment in real estate-related projects to obtain income. F. infrastructure fund. Invest in infrastructure projects. Parent fund. Invest in other funds, collective plans, special funds, etc.