129756355809218750_230At the end of February, has 45 securities companies listed direct investment projects, 26 have queued IPO brokerage direct investment enterprises in the background of, 7 of which have brokerage direct vote of 26 companies line up on city investment fund stirred PE pattern of reporter Wu Tingting as direct investment funds lifted, has been working 4 years brokerage, direct investment and business getting better. As atThe end of February 2012, had approved the establishment of direct investment and company securities firms a total of 36, total registered capital amounting to $ 24.31 billion. 6 brokerage direct investment institutions have participated in the creation of these 9 direct investment fund, including KBS investments, haitong Kaiyuan, Jin Jiacheng, etc. At the end of February, has 45 securities companies listed direct investment projects, 26 brokerage direct investment-backedEnterprise queue IPO, 7 of them. Hundreds of statistics on investment projects, as of February 31, 2012, direct investment projects listed a total of 45 securities firms, average return on the book as 3.95%. According to the Center for Kiyoshina research data, as of February 27, since the beginning of December 2010 KBS investment and safe wealth and wisdom has 7 projects for investmentIPO, the number of top. Followed by Tak Wo Guo Xinhong Shing kwong wrote, there are 5 projects in IPO, haitong-new century third place, a total of 2 single projects IPO. Return on investment from peace, wealth and wisdom to 5.07 times times the average book return on top, followed by extensive letters de, 5 had listed items book return on average 4.94 times times. Reference period, Securities company return on direct investment average of 4.52 times times. It was also cast in the group, according to the CVSOURCE, as of February 23, total of 26 securities companies direct investment enterprises in the background of queued IPO (GEM 19 7 home, boards), 7 of which were through the Commission. Available investment amounted to $ 1.151 billion. Line at the 26 IPOEnterprises, stone investment shares 8, Guo Xin Hong Sung 5, and wrote de 4, it is expected some time in the future, these projects will provide our contribution must be performance. In addition, the reporter according to the part of the direct investment child company of information and statistics, as of now, the broker direct investment and investment and Enterprise (not listed) amounted to 86. Largest number of broad wrote de, a total of26, followed by Hong-sheng, has invested 18. Stirs pattern of PE industry and other VC/PE agencies, brokerage direct lift investment banks is the most prominent features of the lift. Data show that at the end of January this year, has listed 42 brokers direct investment in the background of the company, involving "sponsored direct vote" model case 38, accounted for more than 9 per cent0.5%. Direct investment institutions in 38 cases involving securities firms 9 average "sponsored direct vote" book return multiple cases 4.68 times times. Direct investment from the brokers ' investment to enterprises IPO time interval, 13 of 2010 IPO brokerage direct investment companies from financing to market cycle for an average of 13.6 month 2011Cycle was stretched to 16 months, but compared to traditional PE book exit the cycle of the average 2-3 (IPO time), broker direct investment and investment cycle is generally shorter. Generate huge revenue for brokers ' at the same time, the prevailing mode of controversy within the industry. "Brokerage direct VAT sector have a natural advantage. After launching, the gem, and many of them are invasiveProject resources investment and institutional savings for several years, broker direct investment sectors are listed in the previous year to 1.5 years blitz-holding. "Domestic partner in a venture capital institutions told reporters. With the release on July 8 last year, the SFC of the securities company direct investment regulation guidelines (hereinafter the guidelines), "sponsored direct vote" model system has been ended. However
diablo 3 power leveling, in theThese people view, to a certain extent the regulatory guidelines of the publication is "close the door, it opens a window. "According to the guidelines, the brokerage direct investment companies can set up direct investment funds, and can raise funds through private means. This means that future will have more direct investment company direct fund raising capacity of a GP, to break the level of direct investmentRestrictions, more deeply involved in PE in order to gain higher return on investment and management fee revenue. In April last year, gold company gold draw comes top in direct investment company, the lead pilot direct investment fund. First Fund is expected to raise a total cost of $ 5 billion and within a few short months to complete the first phase of 1.5 billion yuan of funds raised. At the same time, many brokerages have also begun actively engaged in directInvestment funds business. According to the research center of the Qing dynasty, there are 6 brokerage direct investment and participation in the establishment of direct investment fund 9, including KBS investments
tera power leveling, haitong Kaiyuan, Jin Jiacheng
diablo 3 gold, etc. Broker direct investment funds lifted early in the market had expected. The partners said, from the international experience and trends, broker direct investment must go to this step. NearPE year as securities firms, as well as the rise of PE departments of banks, insurance, VC/PE of traditional institutions have come to crossroads. "The industry has changed, the traditional VC/PE make money more difficult. Now the pursuit of quality of enterprise funds are too numerous, on the choice of partners, companies often tend to strong financial strength, can provide more value-added serviceCooperation structure. "He disclosed, brokers direct investment has just begun a pilot, not when climate, traditional PE institutions have started to notice this" force ". "We are concerned that once the future abolition or relaxation of the 15% of the net capital limit, and allowed the establishment of direct investment fund, brokerage of direct investment capital will be considerably higher, levels of the reaches billions of, no doubt on the traditional vC/PE body make a huge impact. But from the point of view of brokers, including preventing conflicts of interest, reduce the negative public opinion, GP direct role in managing the Fund's development model is brokers ' investment and business direction for future development. "He said.
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