Private equity fund refers to private equity investment (also known as private equity investment or private equity fund), which is a very broad concept and is used to refer to the investment in any kind of equity assets that cannot be traded freely in the stock market. Passive institutional investors may invest in private equity investment funds, which are then managed by private equity investment companies and invest in target companies. Private equity investment can be divided into the following categories: leveraged buyout, venture capital, growth capital, angel investment, mezzanine financing and other forms. Private equity investment funds generally control the management of the companies they invest in and often introduce new management teams to enhance the company's value.