信托型私募股权基金作为资本市场领域的创新型投资业务,在我国被越来越多的财富管理机构所热议,构建以信托计划投资私募股权基金的模式及厘清相关法律问题具有现实性意义。本文将信托型私募股权基金(以下简称信托型PE)与另外两种私募股权基金(公司型、合伙型)模式相比较,将信托业务特有的制度优势与合伙型PE的业务架构相结合,提出以“融入有限合伙制”的形式开展信托型私募股权基金业务的模式构想。另外,基于《私募投资基金监督管理暂行办法》及《营业税改征增值税试点实施办法》的出台,结合上海自贸区《信托登记试行办法》等政策,阐述目前监管制度下信托型PE面临的法律问题及整改的必要性,并进行相应问题的对策探析,以期对未来包括信托型PE业务在内的各类私募股权基金的政策完善提供一个新思路。 As an innovative investment business in the capital market, trust-type private equity funds are being heatedly discussed by more and more wealth management institutions in our country. It is of practical significance to establish a trust scheme to invest in private equity funds and to clarify relevant legal issues. This paper compares trust-based private equity funds (hereinafter referred to as trust-based PE) with two other private equity funds (company-based, partnership-based) model, combining the institutional advantages unique to trust business with the business structure of partnership PE To “” into the limited partnership “in the form of trust-based private equity fund business model concept. In addition, based on the ”Provisional Measures for the Supervision and Management of Private Equity Funds“ and the ”Measures for the Implementation of Pilot Business for VAT Reform and Levy of Business Taxes“, in combination with the ”Trial Measures for Trust Registration" in Shanghai FTZ, the paper expounds the trust PEs under the current regulatory system Legal issues and the need for rectification and reform, and countermeasures to explore the corresponding problems, with a view to providing a new idea for the future policy of various types of private equity funds, including trust-type PE business.