1) has different objects. The target of public offering funds is the general public, that is, investors who are not specific to society. The target of private equity fund is a few specific investors, including institutions and individuals.

2) Different financing methods. Public Offering of Fund raises funds through public offering, while private equity funds raise funds through non-public offering, which is the main difference between private equity funds and Public Offering of Fund. ?

3) Different information disclosure requirements. Public Offering of Fund has very strict requirements on information disclosure, such as its investment objectives and portfolio. Private equity funds have low requirements for information disclosure and strong confidentiality. ?

4) Different investment restrictions. Public Offering of Fund has strict restrictions on investment varieties, investment proportion, matching between investment and fund types, and the starting point of investment threshold is relatively low, which is suitable for public investment, and the monetary fund even starts from 1 yuan; However, the investment restrictions of private equity funds are completely stipulated in the agreement, and there is a lower investment threshold, such as an investment of 6.5438+0 million, a net asset of not less than 3 million, and an annual income of more than 400,000 in the past three years.

5) Different investment objects. At present, Public Offering of Fund still mainly invests in standardized assets, such as government bonds, bonds, stocks, monetary assets and funds. Although under the new asset management regulations, non-standard assets have tried to make net worth and invest in ABS products, it is still rare at present. In addition to Sunshine Private Equity, most private equity funds invest in non-standard assets, such as non-standard creditor's rights, equity and business projects. Their returns and risks fluctuate greatly.

6) Different performance rewards. Public Offering of Fund does not extract performance compensation, but only collects management fees. Private equity funds, on the other hand, charge performance compensation and generally do not charge management fees. For Public Offering of Fund, performance is only the honor when ranking, while for private equity funds, performance is the basis of remuneration.

7) Apart from some basic institutional differences, private equity funds and Public Offering of Fund have great differences in investment concepts, mechanisms and risk taking. First of all, the investment objectives are different. Public Offering of Fund's investment goal is to surpass the performance comparison benchmark and pursue the ranking in the same industry. The goal of private equity fund is to pursue absolute return and excess return. But at the same time, private investors have to take higher risks. Secondly, their performance incentive mechanisms are different. The income from the fund company's public offering is the daily fund management fee, which has nothing to do with the profit and loss of the fund. The income of private placement is mainly income sharing. Only when the net value of private placement products is positive can management fees be withdrawn. If the fund they manage is losing money, then they will have no income. Generally, the performance reward extracted by private equity funds according to performance profit is 20%.