Abstract: on January 14, 2017, taking the news conference on the new book Private Equity LP, the 1st Seminar of Green Legal Global Alliance came to a successful end in Beijing DOCVIT Law Firm and established the first batch of research topics and set up the project closely related to the development of the private equity market. Afterwards, Green Legal Global Alliance has continued to undertake the research work of follow-up legal issues and published supporting books interpreting private equity LP from the perspective of the law field in 2017, making constant contributions to the industrial development.

On the afternoon of January 14, 2017, News Conference of Private Equity LP (a book redefining LP) & "Capital Allocation Strategy, Investment Practice and Operation" Charrette sponsored by CITIC Press Group China Road Research and Publication Center and Green Legal Global Alliance and co-organized by LP Think Tank came to a successful end in Beijing DOCVIT Law Firm, the 56^th floor, Fortune Financial Center (FFC). The book Private Equity LP "redefines LP".

Liu Guangchao, secretary general of Green Legal Global Alliance and director of Beijing DOCVIT Law Firm presided over the meeting. Mr. Hou Bo, vice general manager of Zhongguancun Equity Trading Service Group attended the meeting and delivered a keynote speech.

Hou Bo said that many books on private equity in the market are mostly homogeneous and focus on the GP field. The book Private Equity LP explores from the perspective of LP, which is very innovative.

He believes that GP is very important for a good fund. But with the further development of private equity, LP is more critical. Because the good LP plays a very critical role in the entire fund investment layout planning, including professional support.

Additionally. In a diversified LP, how to select LP correctly is critical to the operation of the whole fund. So when the capital is in shortage, people may do not pay attention to LP, but only concern about the size of the fund.

And now, when a good asset is in shortage, the role of LP is increasingly apparent, in addition to GP, the professional support from LP is very critical when choosing a good field and good asset. Hou Bo believes that Private Equity LP has certain enlightenment in this respect.

Hou Bo introduced that the equity trading group is actually four-board market in Beijing, currently it has served about more than four thousand small- and medium-sized enterprises, in these small, medium and micro enterprises, the value mining of the equity relies more on investment company, and the company itself also needs financing. Therefore, they need better funds, so that the docking of PE, VC with enterprise can be more effective and unimpeded.

Private Equity LP has a detailed study of capital allocation strategy, it focuses on LP's investment practices and the operation of LP. This book can provide LP's choices for some funds more pointedly and has high theoretical value and practical value.

In addition, Hou Bo said that he hoped more PE practitioners can pay attention to this book after the news conference, the secondary transfer of LP is mentioned in the book. Now many large platforms are also studying how to transfer LP, and even LP transfer platforms are set up in some places, that is, the secondary market of private equity market. However, it seems that the development is not ideal, mainly involving the technical and legal issues of the transfer. He believes that the transfer of LP is same as the transfer of ordinary companies, it also needs the law to play a normative role, so as a transdisciplinary alliance, Green Legal Global Alliance can utilize this platform, effectively integrate the role of the law, and support and publish series books of law to promote the further development of the private equity LP market. In addition, credit is also a very important factor. Hou Bo believes that some fund company partners also need to consider the awareness, the overall market environment and investment psychology and other factors.

Finally, Hou Bo said that the current investors in and outside the industry are still actively thinking and promoting how to do the real secondary market in the future, this problem needs to be observed.