我国私募股权房地产投资基金发展研究

发布时间：2018-05-15 19:49

本文选题：私募股权房地产投资基金 + 运作流程　；参考：《重庆大学》2012年硕士论文

【摘要】：我国房地产行业的发展不断受到宏观政策的调控，尤其是近几年来，持续的房地产行业调控带来了资本市场的变革，融资渠道多元化成为了行业发展的必然趋势；另一方面，我国总量巨大的民间资本在不断地寻求安全可行的投资渠道，房地产金融的发展为此开辟了一片广阔的空间。从2010年开始，我国私募股权房地产投资基金快速发展。该文以持续而严厉的房地产调控政策背景下私募股权房地产投资基金在我国的快速发展为研究背景，使用定性与定量结合、理论与案例结合、微观特征和宏观分析结合等方法，对私募股权房地产投资基金在我国的发展问题进行研究。该研究核心部分从微观操作层面以及宏观发展层面进行全面的分析讨论，重点阐述了私募股权房地产投资基金的特点、组织形式，总结出国外发展中值得借鉴的成功经验，详细分析了募集、投资、管理、退出等四个运作环节，并指出了私募股权房地产投资基金在我国发展中的机遇和瓶颈。研究从以下方面进行： ①微观层面，对私募股权房地产投资基金的运作流程---募集、投资、管理、退出四个环节依次进行了一定的有益探索和尝试，重点从投资人对基金管理人的选择、基金管理人对投资项目的选择、投资人与基金管理人的收益分配等方面进行研究。 ②宏观层面，从分析我国房地产行业的发展情况入手，通过总体发展分析、投资状况分析、融资现状分析三部分内容的论述后，得出我国房地产行业融资渠道多元化是发展的必然趋势。随后概述私募股权房地产投资基金在我国的发展情况，并对其在我国的发展机遇和发展瓶颈进行详细研究，，在此基础上提出发展建议。通过上述研究，取得一定研究成果。微观层面，该研究在资金的募集、投资项目的选取、收益分配机制研究等方面获取一定创新成果。宏观层面，通过研究指出私募股权房地产投资基金在我国发展的三大发展机遇和五大发展瓶颈，基于此，提出了四点发展建议。期望该研究成果可以对私募股权房地产投资基金在我国的发展起到一定的借鉴作用。
[Abstract]:The development of China's real estate industry is constantly regulated by macro policies, especially in recent years, continuous real estate industry regulation and control has brought about the transformation of the capital market, the diversification of financing channels has become an inevitable trend of industry development; on the other hand, The huge amount of private capital in our country is constantly seeking safe and feasible investment channels, and the development of real estate finance opens up a broad space for this. From 2010 onwards, our country private equity real estate investment fund develops rapidly. Based on the rapid development of private equity real estate investment fund in our country under the background of continuous and strict real estate regulation and control policy, this paper uses qualitative and quantitative combination, theory and case analysis, micro characteristics and macro analysis, etc. This paper studies the development of private equity real estate investment fund in China. The core part of the study is to analyze and discuss the characteristics and organizational forms of private equity real estate investment fund from the micro operation level and macro development level, and sum up the successful experience of foreign countries in the development of real estate investment fund. This paper analyzes in detail the four operating links of raising, investing, managing and withdrawing, and points out the opportunities and bottlenecks of the private equity real estate investment fund in the development of our country. The study was conducted in the following areas: 1. At the micro level, the paper makes some beneficial explorations and attempts on the operation flow-raising, investment, management and withdrawal of the private equity real estate investment fund, focusing on the choice of the fund manager from the investors. Fund managers study the choice of investment projects and the distribution of income between investors and fund managers. (2) at the macro level, starting with the analysis of the development of China's real estate industry, through the overall development analysis, investment status analysis, financing status analysis of the three parts of the discussion, It is an inevitable trend to diversify the financing channels of China's real estate industry. Then it summarizes the development of private equity real estate investment fund in China, and makes a detailed study of its development opportunities and bottlenecks in China, and then puts forward some suggestions for development. Through the above research, some research results have been obtained. At the micro level, the research has obtained some innovative results in the aspects of fund raising, investment project selection, income distribution mechanism research and so on. At the macro level, this paper points out three opportunities and five bottlenecks for the development of private equity real estate investment fund in China. Based on this, the author puts forward four suggestions for the development of private equity real estate investment fund in China. It is expected that the research results can be used for reference for the development of private equity real estate investment funds in China.
【学位授予单位】：重庆大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F293.3;F832.48

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