1, the proposed object is different. The target of public offering funds is the general public, that is, investors who are not specific to society.

2. Different financing methods. Public Offering of Fund raises funds through public offering, while private equity funds raise funds through non-public offering.

3. Information disclosure requirements are different. Public Offering of Fund has very strict requirements on information disclosure, such as its investment objectives and portfolio.

4. Different investment restrictions.

5. Different performance rewards. Public Offering of Fund does not extract performance compensation, but only collects management fees. Private equity funds, on the other hand, charge performance compensation and generally do not charge management fees.

6. Apart from some basic institutional differences, private equity funds and Public Offering of Fund have great differences in investment concepts, mechanisms and risk-taking.