摘要私募股权基金在近30年的时间里，在国际资本市场上取得了快速的发展，成为一些需要资金支持的非上市企业的重要资金来源，也成为了许多高成长性企业的“孵化器”。我国私募股权基金发展较晚，且由于监管等问题发展缓慢，但是在近几年随着我国经济迅速发展，资本市场逐渐走向成熟，私募股权基金正愈发受到重视，并且在拓宽企业融资渠道，促进资本市场发展等方面扮演着越来越重要的角色。私募股权基金的发展会在多方面促进整个多层次资本市场的发展，这对于我国经济的发展和我国金融市场的发展都具有重要意义。本文首先简要地介绍了私募股权基金以及资本市场的相关基础知识；然后对比国内外私募股权基金的发展及其对多层次资本市场的影响以探索适合我国的发展道路；最后重点论述了私募股权基金发展对构建我国多层次资本市场的影响，并就我国私募股权基金的发展提出策略建议。关键词：私募股权基金；私募股权投资；多层次资本市场AbstractPrivateequityfundhasscoredrapiddevelopmentintheglobalcapitalmarketintherecent30years,whichnotonlyhasbecomeonemainsourceoffundingtothosenon-listedenterpriseswhoneedfinancialsupportbutalsohastakenonaroleofincubatorformanyhigh-growthcorporations.Inourcountry,privateequityfunddevelopedlateandslowlyduetoregulation.However,withtherapideconomicgrowthandmaturalizationofcaptialmarkettheseyearsinChina,ithasbeenpaidmoreandmoreattentiontoandisbecomingmoreandmoreimportanttoexpandingfinancingchannelsforenterprisesandtoadvancingthedevelopmentofourcapitalmarket.Itismoresignificanttoseeprivateequityfundacceleratingthegrowthoftheentiremulti-layeredcapitalmarketinourcountry,whichisofanimportantruletothedevelopmentofourdomesticeconomyandfinancialmarket.Thispaperfirstbrieflyintroducesthebasicsofprivateequityfundandcapitalmarket.ItthencomparesthedevelopmentofprivateequityfundaswellastheinfluencePEfundhastothemulti-layeredcapitalmarketdomesticallyandabroadsoastoexplorethemostsuitabledevelopmentstrategyinourcountry.Finally,articlemainlydiscusseshowprivateequityfundhelpcreateourdomesticmulti-layeredcapitalmarketandmakesuggestionstoourdomesticdevelopmentofprivateequityfund.KeyWords:Privateequityfund;Privateequityinvestment;Multi-layeredcapitalmarket目录1引言.....................................................................................................................................11.1选题背景和意义..........................................................................................................11.2研究目的及方法..........................................................................................................22私募股权基金及资本市场概述.............................................................................................32.1私募股权基金的概念及特征......................................................................................32.1.1私募股权基金的概念.......................................................................................32.1.2私募股权基金的主要特征...............................................................................52.2私募股权基金的分类..................................................................................................62.3我国资本市场概述......................................................................................................83我国私募股权基金发展历程及现状...................................................................................113.1我国私募股权基金的发展历程.................................................................................
