Can private equity funds be leveraged? The leverage ratio of private equity products is limited, not exceeding 200%, which is a regulatory requirement, and fund companies have their own internal regulations. The risks of private equity funds include investment operation risk, operation management risk, market fluctuation and macroeconomic fluctuation risk, as well as the moral hazard that fund managers may have in interest transfer. When an investor invests in a private equity fund, the manager of the private equity fund shall specifically disclose to the investor the risks that may be involved in the invested fund, that is, the risk control measures to be taken.