文档介绍：摘要
私募基金是一个中文生造词，并没有相应的英文单词与之相对应。通过语义
学分析，所谓的私募基金应当是指根据特定投资目的，以非公开发行的方式向特
定对象募集资金并形成独立的基金财产，基金财产交由基金管理人按照资产组合
方式管理，基金份额持有人按其所持份额享受收益和承担风险的资金集合体。与
一般基金相比，私募基金具有非公开性、大额投资性、封闭性以及非上市性等特
点。与公募基金相比，私募基金在设立的程序，利益关系的紧密程度和监管比较
宽松等三个方面体现出相当的比较优势。
作为社会化大生产发展到一定程度之后的必然产物,私募基金在我国不断发
展壮大, 私募基金对于我国资本市场的健康发展起到了重要作用。但是由于种种
客观原因，我国私募基金的立法工作迟迟没有实质性进展。由于我国私募基金的
合法地位还未完全确立,私募集金不可避免的存在各种问题。现实法律的空白给民
间私募基金业提供了生存空间，也使其面临相当法律风险。如果不为这支巨大的
资本力量创造良好的政策环境，私募基金很难走上健康持续发展的道路,而且还会
成为重大的金融隐患。
通过对国外私募基金法律制度进行比较与借鉴，我国对私募集基金的法律规
制应当遵循放松规制、强调自治、风险自担三个原则，采用循序渐进的立法路径：
从规范私募基金注册保护制度，完善私募基金私募方式的确定制度，严格发起人
与管理人条件，规范私募基金组织形式，规范私募基金流动，加强我国私募基金
监管制度及风险防范的法律设计等六个方面入手，建立和完善我国私募基金法律
规制制度。

关键词：私募基金；私募；法律规制

II
Abstract
Privately offered fund is a Chinese coinages which has no corresponding word in
English. Through the analysis of semantics, the definition of privately offered fund is
the fund established by private placement and for some specific goal like investment
is a set composed by capital. This capital which has been belonged to the investor is
independent. And the investor could share the fund’s holders. Compared with the
normal funds the privately offered fund has Characteristics of Non-publicly, invested
huge and non-tradable. Compared with the public offering funds privately offered
fund has the superiority in four aspects: The Established procedures of privately
offered fund is simply .The privately offered fund could offer more attractive service
for the special investor. The relationships between the privately offered fund’s
manager and investor are more intimate than other funds’ .The Supervision by
government are more liberal when the supervision object to privately offered fund.
As the development of the economy and continuous accumulation of social
wealth, privately offered funds also develop and grow continually. But at present the
privately offered fund in