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私募基金是资本市场的重要参与者,根据其内涵一般可以分为对冲基金、私募股权基金和创业投资基金(也可称为风险投资基金)三种。我国私募基金通常专指从事与证券市场投资的、非公募形成的机构投资者。据估计,我国A股市场的私募基金规模大约有5000亿元人民币,规模较大的单一基金数额估计约2-3亿元人民币。随着我国证券市场的深入发展以及外资背景的投资机构的竞争,我国私募基金也面临着结构性变动。以上提到的三种基金模式将是我国私募基金结构性变动的方向。
Private equity funds are important participants in the capital market. According to their connotation, private equity funds can generally be divided into three types: hedge funds, private equity funds and venture capital funds (also called venture capital funds). China’s private equity funds usually specifically refer to the institutional investors who are engaged in the investment in the securities market and are formed by non-public funds. It is estimated that China’s A-share market private equity fund size of about 500 billion yuan, a larger single fund estimated amount of about 2-3 billion yuan. With the further development of China’s securities market and the competition of investment institutions with foreign investment background, the private equity funds of our country are also facing structural changes. The three types of fund mentioned above will be the direction of structural changes in China’s private equity funds.