Private placement, that is, private investment funds, refers to investment funds that are raised from qualified investors in the form of non-public offering and invested in investment targets such as stocks, equity, bonds, futures, options, fund shares, etc. ) stipulated in the investment contract, referred to as private equity fund.

Private equity funds originated in the United States. From 65438 to 0976, three investment bankers from Bear Stearns, a famous wall street investment bank, established KKR, an investment company specializing in M&A, which was the earliest private equity investment company.