Connection is a kind of operation mode of the fund; The difference is that they operate in the same way: if the private equity fund operates in the form of limited partnership, then when the fund operates, it must first set up a limited partnership to raise funds and make corresponding investments in the name of this partnership; Investors of the Fund participate in the Fund as limited partners, that is, each investor is a partner of the partnership.

In the operation of corporate funds, it is necessary to set up a limited liability company to raise funds (find shareholders) in the name of the company and make investments. Investors of the Fund participate in the Fund in the form of shareholders' shares, and each investor is a shareholder of the Company.

Contractual funds should be simpler. Fund companies do not need to set up new partnerships or new companies. They only need to sign a fund contract with their clients, and they can make corresponding investments by raising funds.