There are differences in capital mode and risk-return characteristics, and the specific differences are as follows:

Different investment targets: private debt mainly invests in bonds issued by enterprises, while private equity funds mainly invest in equity, creditor's rights, real estate and other assets.

Investment methods are different: private debt is usually direct investment, that is, investors directly buy bonds issued by enterprises, while private funds invest through funds, that is, investors buy shares of private funds, and fund managers manage and invest assets.

The characteristics of risk and return are different: the investment risk of private debt is relatively low, the return is stable, but the yield is low; The investment risk of private equity funds is relatively large, and the income may be relatively rich, but there are also great investment risks.

The investment threshold is different: the investment threshold of private debt is relatively low, and bonds can generally be purchased directly from enterprises, but the investment threshold of private equity funds is high, which needs to meet certain investment conditions and financial qualifications.

The regulators are different: the regulator of private debt is China Securities Depository and Clearing Co., Ltd., and the regulator of private fund is China Asset Management Association.

In a word, although private debt and private fund belong to the field of private investment, there are differences in investment objects, investment methods, risk-return characteristics, investment threshold and regulatory agencies. Investors need to carefully analyze and evaluate when choosing, and choose investment products that meet their investment needs and risk tolerance.