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"Sejak tahun 1960-an pasar Private Equity telah berkembang pesat di seluruh dunia. Baru-baru inibertahun-tahun, dengan lebih banyak perhatian yang ditarik ke China, PE Internasional juga telah menemukan jalannya ke pasar China. Sementara itu, dana ekuitas swasta lokal juga berkembang pesat, yang mendorong peningkatan investasi PE. PE memiliki pengaruh yang besar dalam mendorong peningkatan struktur industri, mengembangkan pasar modal multi-level, mengoptimalkan struktur manajemen perusahaan dan meningkatkan pengembangan usaha kecil dan menengah bersama dengan teknologi baru dan tinggi.Tujuan dari penelitian ini adalah meringkas karakteristik PE China dan membandingkannya dengan PE internasional, dengan menggunakan alat analisis berupa studi kasus dan analisis sampel pada GEM Bursa Efek Shenzhen (Growth Enterprise Market).Artikel ini pertama kali dimulai dengan pengantar singkat tentang PE. Kemudian sejarah pasar PE internasional dan domestik masing-masing disebutkan. Setelah itu melalui studi kasus PE dalam negeri didapatkan lima karakteristik yaitu pengelolaan dana, investor dana, fitur investasi, pengelolaan setelah investasi dan penarikan dana, serta perbandingan awal internasional. Berikut ini, melalui analisis sampel 195 kasus investasi yang dipilih secara acak dari 86 emiten yang terdaftar di GEM Bursa Efek Shenzhen dan melibatkan Private Equity Investment, dilakukan investigasi berdasarkan kategori berdasarkan data terkait. Selain itu, diperoleh beberapa kesimpulan lain dari perbandingan internasional. Akhirnya, saran-saran konstruktif dan inovatif untuk pengembangan PE diberikan berdasarkan kesimpulan studi kasus dan analisis sampel.

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Since 1960s Private Equity market has been developing rapidly all over the world. In recent

years, with more attention being drawn to China, International PE has also found its way to China’s market. In the meantime, local private equity fund has been flourishing as well, which brought an upsurge of PE’s investment. PE has great effect on promoting upgrade of the industrial structure, cultivating multi-level capital market, optimizing the company management structure and enhancing development of small and medium enterprises along with new- and-high technologies.

The purpose of this research is to summarize the characteristics of Chinese PE and make comparison with international PE, using analysis tools such as case study and sample analysis on the Shenzhen Stock Exchange GEM (Growth Enterprise Market).

This article firstly began with a brief introduction regarding to PE. Then history of international and domestic PE markets was respectively mentioned. Afterwards through the case study on domestic PE, five characteristics – fund management, fund investor, investment feature, management after investment and fund withdraw – were elicited, along with the initial international comparison. In the followings, through sample analysis of 195 investment cases random selected from 86 listed companies which are listed in the Shenzhen Stock Exchange GEM and involve the Private Equity Investment, investigation was conducted by categories based on the related data. In addition, some other conclusions of international comparison were obtained. At last, constructive and innovative suggestions of development of PE were given based on the conclusions of case study and sample analysis."

"Private equity adalah salah satu alternatif sumber pendanaan dalam bentuk ekuitas yang tidak tercatat dalam bursa. Sebagai wilayah yang memiliki kawasan emerging dan frontier market, tingkat investasi private equity di Asia Tenggara mengalami peningkatan. Investasi private equity yang terjadi selalu melibatkan exit strategy (strategi keluar). Dengan menggunakan data dari sembilan negara selama 17 tahun kebelakang, dalam penelitian ini ditemukan bahwa dari semua pilihan strategi keluar yang tersedia mayoritas perusahaan private equity keluar melalui jalur merger. Singapura dengan mayoritas pendanaan dilakukan pada perusahaan teknologi informasi merupakan negara dengan jumlah keluar dan total pendanaan terbesar. Selain itu dengan menggunakan regresi logistik multinomial, penelitian ini menemukan bahwa faktor-faktor seperti tahap investasi, total pendanaan, dan durasi pendanaan mempengaruhi strategi keluar yang dipilih oleh perusahaan private equity. Namun demikian, hasil penelitian ini tidak menunjukkan adanya pengaruh sektor industri dari perusahaan penerima dana, maupun tingkat pertumbuhan GDP terhadap pemilihan strategi keluar.

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Private equity is one of funding alternatives in the form of equity that is not listed on the stock exchange. As an emerging and frontier market region, The Southeast Asia have an increasing level of private equity investment. Exit strategy is one of the stages on private equity funding cycle. By using data from nine countries for the past 17 years, this study find merger as the most frequently chosen for private equity exit vehicle in Southeast Asia investee company. Singapore which the majority of funding made on information technology sector is the country with the highest number of exits and the biggest committed capital. Using multinomial logistic regression, this study found that factors such as investment stage, total funding, and funding duration can affect the exit strategy by private equity firms. In contrast, the results of this study do not show the impact of either industrial sector of the investee nor the GDP annual growth rate on the choice of an exit strategy."

"Penyertaan Terbatas atau yang biasa disingkat dengan RDPT. Berdasarkan Peraturan Bapepam-LK No. IV.C.5 yang mengatur tentang Reksa Dana Kontrak Investasi Kolektif Penyertaan Terbatas ini disebutkan bahwa Unit Penyertaan dari reksa dana ini hanya dapat ditawarkan kepada para Pemodal Profesional dan dilarang ditawarkan melalui Penawaran Umum dan tidak dapat dimiliki oleh lebih dari 50 pihak. Reksa Dana KIK Penyertaan Terbatas ini dimaksudkan untuk menjadi salah satu alternatif investasi dalam rangka membiayai kebutuhan pembangunan di Indonesia khususnya di bidang sektor riil. Skripsi ini meninjau secara hukum produk Reksa Dana Kontrak Investasi Kolektif Penyertaan Terbatas yang dikeluarkan oleh PT. Syailendra Capital, salah satu perusahaan Manajer Investasi yang berhasil dengan produk Reksa Dana Kontrak Investasi Kolektif Penyertaan Terbatas-nya di Indonesia.

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This thesis discusses about the Private Equity Fund which is usually abbreviated with PEF. Based on the Ministry Of Finance Of The Republic of Indonesia Captial Market and Financial Institutions Supervisory Agency Rule Number IV.C.5 concerning Private Equity Fund mentions that the Participation Units of this fund may only be offered to Professional Investors and are not allowed to be offered through Public Offering and or are not allowed to be owned by 50 (fifty) Person or more. The Private Equity Fund is aimed to be one of the alternative investments in financing the development needs in Indonesia especially in the real sector businesses. This thesis reviews the legal aspect of the Private Equity Fund on PT. Syailendra Capital, one of the Investment Manager in Indonesia, successful with its Private Equity Fund product."

"ABSTRAKSkripsi ini membahas bagaimana keberlakuan pembatasan kepemilikan asing terhadap penanam modal asing yang merupakan limited partners dalam private equity fund berdasarkan Undang-Undang Nomor 25 Tahun 2007 tentang Penanaman Modal. Penelitian ini merupakan penelitian yuridis normatif dengan menggunakan pendekatan kualitatif. Hasil penelitian ini menunjukkan bahwa pembatasan kepemilikan asing belum berlaku secara efektif terhadap penanam modal asing dari private equity fund. Meskipun, secara normatif yuridis, pembatasan kepemilikan asing seharusnya berlaku terhadap penanam modal asing dari private equity fund, secara praktik, pembatasan kepemilikan asing tidak berlaku terhadap penanam modal asing tersebut.

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ABSTRACTThis thesis examines how restrictions on foreign ownership apply to foreign investors that are limited partners in private equity fund under Law Number 25 of 2007 regarding Investment. This thesis is a normative legal research using a qualitative approach. The result of the research shows that restrictions on foreign investment have not effectively applied to foreign investors in private equity practice yet. Although restrictions on foreign investment should have legally applied to such foreign investors, in fact the restrictions did not apply to such foreign investors at all."

"Other books present corporate finance approaches to the venture capital and private equity industry, but many key decisions require an understanding of the ways that law and economics work together. This revised and updated 2e offers broad perspectives and principles not found in other course books, enabling readers to deduce the economic implications of specific contract terms. This approach avoids the common pitfalls of implying that contractual terms apply equally to firms in any industry anywhere in the world.In the 2e, datasets from over 40 countries are used to analyze and consider limited partnership contracts, compensation agreements, and differences in the structure of limited partnership venture capital funds, corporate venture capital funds, and government venture capital funds. There is also an in-depth study of contracts between different types of venture capital funds and entrepreneurial firms, including security design, and detailed cash flow, control and veto rights. The implications of such contracts for value-added effort and for performance are examined with reference to data from an international perspective. "