2025New regulations on changing actual controllers of private equity funds

2025New Regulations on Changes in Actual Controllers of Private Equity Funds in 2019，New product registration needs to be completed within 6 months! June 28, 2025，China Foundation Association issued the latest tips in the Ambers system。

Display relevant content of the prompt：For private equity fund managers who undergo "change of controlling shareholder/largest shareholder" or "change of actual controller" through changes in major matters, they will start from the date when the changes in major matters are completed.，If there is no private equity fund product in operation，New product registration needs to be completed within 6 months；Overdue and not reached

Require

of，The system will cancel the registration of the private equity fund manager.。

2025In December 2019, the China Fund Management Association released the latest "Registration Instructions for Private Equity Fund Managers"，Regarding changes in major matters

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time means，The China Foundation Association will treat it as a new applicant for registration for verification.，and increase efforts to verify the reasons for changes.：Legal representative/executive partner (appointed representative) of the registered private equity fund manager within 1 year、Major investor、Changes in actual control per capita，Legal opinions on private equity fund manager registration after changes should be resubmitted，Issue legal opinions on the overall situation of the applicant institution in accordance with the "Guidelines for Legal Opinions on Registration of Private Equity Fund Managers"，Submit documentation supporting changes in internal procedures at the same time、Disclose information to investors on this matter，and explain in detail the reasons for the change.。

besides，Continuing business development for newly registered private equity fund managers

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Shi also made it clear：In accordance with the "Announcement on Further Regulating Certain Matters concerning the Registration of Private Equity Fund Managers"，A newly registered private equity fund manager has not registered its first private equity fund product within 6 months from the date of completing the registration procedures.，China Fund Management Association will cancel the registration of the private equity fund manager。So what does the registration of private equity funds mean for the company entities and personnel who apply?

Require

？

For the applicant company

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：(1) In accordance with the regulations of the association，The main company must be an investment company，The company name and business scope must include (investment management、asset Management、Equity investment、fund management)；In addition to limited companies, company types can also be limited partnerships, etc.。

Also, be careful not to write “investment consulting” in your business scope.

1. The company cannot compete with small loan companies、Financial leasing company、Related to commercial factoring companies, etc.；
2. Registered capital of more than 10 million，Paid payment of 25% and above，It is best to pay more than 30% of the registered capital.，Or the registered capital is 20 million yuan，This will help improve the pass rate of filing；
3. The subject company must not have any bad information records；
4. Basically, it is no longer possible to register an investment company.，Only companies that are no longer operating in the market can be acquired，It is understood that only Horgos can register；
5. Registered address The registered address of a private equity fund company may be different from its actual business address.；to relevant persons

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1. 3 or more senior executives in the equity category、4-5 senior executives in the securities category；

Require

Senior executives have corresponding professional qualifications；

1. Executive college degree or above，Qualified to practice，Preferably have relevant financial experience；
2. Executives cannot borrow money from small loans、finance lease、Working in commercial factoring and other companies；
3. It is best to have 5-10 employees，The organizational structure is：total，Investment Department，Risk Control Department，Administration Department，Marketing Department，Personnel Department, etc.，1-2 employees each，of which the total，Risk control manager，The best investment is full-time，Other staff can work part-time。

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