Private equity funds in the form of limited partnership can effectively avoid double taxation, ensure the interests of operators and owners are consistent under the condition of separation of ownership and management rights through reasonable incentive and restraint measures, promote the division of labor and cooperation between general partners and limited partners, and give full play to their respective strengths and advantages; In addition, the limited partnership private equity fund has the characteristics of low threshold, simple establishment procedure, simple and flexible internal governance structure, efficient decision-making procedure and flexible benefit distribution mechanism.