Private equity funds must not be too strange to investors. Its harsh handling conditions discouraged many investors, but this did not stop people from being enthusiastic about him. Maybe everyone has heard that private equity funds have filing procedures. 1. Do private equity funds have to be filed? Private fund managers shall, within 20 working days after raising private funds, put on record through the private fund registration and filing system, indicate the fund category according to the main investment direction of private funds, and truthfully fill in the basic information such as fund name, fund scale, investors, fund contract (fund company's articles of association or partnership agreement, hereinafter referred to as fund contract). Where a corporate fund employs a management team to manage the assets of the fund, the corporate fund shall go through the procedures of fund filing and fund manager registration. If the filing materials of private equity funds are incomplete or inconsistent with the provisions, the private equity fund manager shall make timely corrections according to the requirements of the fund industry association. If the filing materials of private equity funds are complete and meet the requirements, the fund industry association shall, within 20 working days from the date of receiving all the filing materials, publicize the basic situation of private equity funds through the website and complete the filing procedures of private equity funds. The basic information of private equity fund publicized on the website includes the name of private equity fund, time of establishment, filing time, main investment fields, fund manager and fund custodian. Second, private equity funds do not record risks. Because of the industry span and legal framework of private equity funds, it is easy to touch the red line and cause investment risks. How to reduce the investment risk, first of all, we must clearly understand the existence of risks, so as to effectively formulate risk prevention and control plans, and then standardize the investment behavior of private equity funds and reduce the risk probability. The legal risk of private equity investment fund refers to the economic disputes caused by the relevant subjects ignoring legal rules, ignoring legal review and evading legal supervision during the investment and financing process of private equity investment fund, as well as the potential or significant economic losses brought by litigation to enterprises. The causes of legal risks usually include violation of relevant laws and regulations, breach of contract, infringement, failure to exercise the legal rights of the company, etc. Specific risks include debt default, contract fraud, blind guarantee, softening of corporate governance structure, weak supervision and failure to demonstrate the legal feasibility of investment. There are countless potential legal risks and economic losses. To sum up, for the administrative organs, the law has no authorization. In other words, private equity funds that go through formal channels must go to the fund industry association for filing, which can facilitate investors to inquire and accept social supervision.