私募股权投资工具法律问题研究  

Study on Legal Issues Concerning Private Equity Investment Instruments

作　　者：韩良[1] 滕杰 HAN Liang;TENG Jie

机构地区：[1]南开大学法学院法学院,天津300350

出　　处：《天津师范大学学报（社会科学版）》2018年第6期63-69,共7页Journal of Tianjin Normal University(Social Science)

摘　　要：私募股权投资发源于英美等普通法系国家,相应的投资工具和投资条款也建立在普通法系基础之上,其理论基础是不完全契约理论,这与我国传统法律观念和目前的法律制度存在一定冲突或不相容。为促进我国私募股权投资行业的健康发展,我国应当适当借鉴普通法系的相关原理和制度,尊重双方合意并坚持适度监管的原则。在当前《私募投资基金监督管理暂行办法》及一系列监管规定出台的背景下,我们应当针对私募股权投资,进一步制定和完善区别于证券类投资基金的专门性监管规则和业务指引规范。Private equity originated from common law countries such as Britain and the United States. The corresponding investment instrument and investment terms are established on the basis of common law system,and its theoretical basis is incomplete contract theory. There are some conflicts and incompatibility,compared with Chinese traditional legal concept and legal system. In order to promote the development of private equity investment industry in China,our country should draw lessons from the relevant theory and system of common law,respect both sides consensus and adhere to the principle of appropriate supervision. In the context of the introduction of the Interim Measures for Supervision and Administration of Private Equity Investment Fund,we should further develop and improve specialized regulatory rules and operational guidelines for private equity investments,which are different from securities investment.

关 键 词：私募股权 投资工具 可转换优先股 可转换债权 

分 类 号：F832.51[经济管理—金融学]