Whether the private equity fund can be transferred and whether the transferee has special requirements are all related to the stage of the fund. Taking private placement as an example, the invested enterprises have entered the IPO review stage, and the transfer and transferee of private placement funds will be very cautious, depending on whether it will have a negative impact on the company's listing. The specific operation should be negotiated with the fund management company, and the operation of private equity funds with different structures is different when transferring. To put it simply, if you invest in a corporate or partnership structure, you need to obtain the consent of other shareholders and sign for confirmation before transferring funds. The contract type will be relatively simple. Whether the final transfer price is a discount or a premium is also related to the fund itself.

Article 11 of the Interim Measures for the Supervision and Administration of Private Investment Funds? Private equity funds shall be raised from qualified investors, and the cumulative number of investors in a single private equity fund shall not exceed a specific number as stipulated by the Securities Investment Fund Law, the Company Law, the Partnership Enterprise Law and other laws. Where an investor transfers a fund share, the transferee shall be a qualified investor, and the number of investors after the transfer of the fund share shall conform to the provisions of the preceding paragraph.