First of all, Public Offering of Fund raises funds from public investors in an open way, which can be issued to the public through fund companies' direct sales and third-party consignment, while private equity funds cannot be issued publicly, and can only be raised from specific qualified investors.

Secondly, Public Offering of Fund, as a product of inclusive finance, usually has lower requirements for buying funds, while private equity funds require investors to have higher risk identification ability and risk-taking ability, and the corresponding threshold for buying funds is relatively high, usually requiring hundreds of thousands of yuan to start.

Third, Public Offering of Fund is relatively more transparent. Through quarterly, semi-annual and annual reports, the relevant information about product investment and operation is published regularly, while private equity funds only disclose product information to specific qualified investors, and the disclosure content is not publicly released.

Fourth, Public Offering of Fund has strict requirements on risk control and compliance, and there are relatively many restrictions in the investment process, while private equity funds are more flexible. For example, the investment direction and available investment tools of Public Offering of Fund portfolio are relatively simple, which are agreed in advance in the contract, so it is difficult to change them directly in the investment process. Private equity portfolios usually have fewer agreements and are more flexible in the use of investment tools.

Fifth, the charging mechanism in Public Offering of Fund is different from that of private equity funds. Public Offering of Fund's income mainly comes from fixed management fees, and the income of private equity funds mainly comes from floating management fees (performance commission). For example, private equity funds can stipulate in the contract that 20% of their investment income will be used as commission.

Finally, publicly issued funds are usually more liquid than private equity funds. After the product is established, Public Offering of Fund adopts an open operation mode, and can usually apply for redemption after a period of closed operation, while private equity funds usually adopt a regular open form, such as quarterly or semi-annual redemption.