Partnership shares of private equity funds can be pledged. Article 440 of the Civil Code stipulates that transferable fund shares that the debtor or a third party has the right to dispose of may be pledged. The “fund shares” referred to in this article include private equity fund shares. However, Article 443 of the Civil Code stipulates that if fund shares or equity registered with a securities registration and clearing agency are pledged, the right to pledge is established when the securities registration and clearing agency handles the pledge registration. It can be seen from the provisions of this article that the "fund shares" referred to in Article 443 refer to public fund shares. Although the scope of property that can be pledged in Article 440 of the Civil Code does not include shares of private equity funds, its seventh paragraph, "Other property rights that may be pledged as prescribed by laws and administrative regulations," does not include shares of private equity funds. The pledging of shares leaves room. According to the provisions of Article 440 of the Civil Code, the rights that can be used as the object of pledge must be property rights and should have the following properties: First, they must be property rights in private law. Second, it must be a transferable property right. Third, it must be a property right that is suitable for pledge according to the law. Private equity fund shares are property rights in private law. Although their transfer must meet the conditions of qualified investors, this does not hinder their transferability. Therefore, we understand that private equity fund shares should be within the scope of rights that can be pledged. 1. How to pledge shares of private equity funds. The pledge of rights does not take effect upon the entry into force of the "Pledge Contract". Certain acts must be performed before it can be established. Judging from the provisions of the section on rights pledge in the Civil Code, rights pledge is mainly divided into delivery and establishment and registration and establishment. Rights with title documents, such as warehouse receipts, bills of lading, etc., are established when the title documents are delivered to the pledgee. If there are no rights certificates, such as fund shares, equity, accounts receivable and intellectual property rights, etc., they are established when self-owned securities registration and clearing agencies, industrial and commercial administration departments, credit reporting agencies and relevant competent authorities handle pledge registration. As analyzed above, the Civil Code does not clarify the pledge of private equity fund shares. However, according to Article 446 of the Civil Code, “In addition to the provisions of this section, the pledge of rights shall also apply to this chapter.” Section 1: "Provisions on Chattel Pledge", Article 429 stipulates that "the pledge is established when the pledger delivers the pledged property", that is to say, for the pledge of private equity fund shares, reference should be made to the chattel pledge delivery as the way in which the pledge becomes effective. 2. What are private equity funds? Private equity funds are funds raised privately or directly from specific groups. The corresponding public funds are funds raised publicly from the public. The funds that people usually talk about are mainly mutual funds, that is, securities investment funds. There are three main analysis methods for securities investment: basic analysis, technical analysis, and evolutionary analysis. Basic analysis is mainly used in the selection of investment targets, while technical analysis and evolutionary analysis are mainly used in time and space judgments of specific investment operations. on, as an important supplement to improve the effectiveness and reliability of investment analysis. In a broad sense, private equity funds include not only securities investment funds, but also private equity funds.