Legal analysis: Limited partnership private equity fund consists of general partner GP and limited partner LP, and does not participate in limited partnership affairs. It can be understood that financial investor P is the actual operator and carries out limited partnership affairs. The actual operator of the limited partnership private equity fund is the general partner, and the limited partner generally does not participate in limited partnership affairs. In addition, compared with other types of private equity funds, limited partnership private equity funds are more flexible and efficient, enabling investors to manage their investments conveniently, so they are loved by many investors.

Legal basis: Article 88 of the Securities Investment Fund Law of People's Republic of China (PRC) raises qualified investors, and the cumulative number of qualified investors shall not exceed 200. The QFII mentioned in the preceding paragraph refers to the units and individuals that have reached the prescribed asset scale or income level, have the corresponding risk identification ability and risk-taking ability, and the subscription amount of their fund shares is not less than the prescribed limit. Specific standards for qualified investors shall be formulated by the the State Council Securities Regulatory Authority.