Compared with Public Offering of Fund, the closed period of private equity funds is relatively long. During the closed period, private equity funds cannot be redeemed and withdrawn at will, which means that fund managers have the initiative in fund management and can manage funds more flexibly during the closed period. If, like Public Offering of Fund, they need to cope with the pressure of customers to redeem at any time, they always have to leave a sum of money in the current account for redemption, and the overall investment income of the fund will also be reduced. Private equity funds have simple organizational structure, flexible operating mechanism and high freedom in daily management and investment decision-making. Compared with other institutions with complex mechanisms, private equity funds have obvious competitive advantages at the critical moment when opportunities are fleeting.