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私募股权基金是中小企业特别是创新型中小企业除银行贷款和首次公开发行股票(IPO)之外的又一重要融资渠道。目前,我国私募股权基金的组织形式主要有三种:公司型、信托型和有限合伙型。公司型和信托型私募股权基金由于发展相对较早,运作机制较为成熟和完善;而有限合伙型私募股权基金直至2007年新修订的《合伙企业法》引入有限合伙制度,才得以正式确立法律地位。虽然有限合伙型私募股权基金起步甚晚,但是近年来其发展速度迅猛,数量不断增多,规模逐渐庞大。实有必要研究有限合伙型私募股权基金的现行约束机制和激
Private equity funds are another important source of financing for SMEs, especially innovative SMEs, in addition to bank loans and initial public offering (IPO). At present, there are mainly three types of private equity funds in China: corporation type, trust type and limited partnership type. Due to the relatively early development of the corporate and trust-based private equity funds, the operating mechanism is relatively mature and perfect. However, limited partnership PE funds can not formally establish legal status until the newly revised Partnership Enterprise Law introduced the limited partnership system in 2007 . Although the limited partnership private equity fund started very late, its rapid development in recent years, the increasing number of large-scale. It is necessary to study the current restraint mechanisms and incentives of limited partnership private equity funds