Contractual private equity fund refers to the organizational form of private equity fund in which investors sign fund contracts with managers and custodians, in which the rights and obligations of all parties are stipulated, and the assets are managed by managers and entrusted to custodians. Contract funds do not have independent legal personality. The investor authorizes the manager to exercise the right to use and dispose of the fund property on his behalf through the fund contract, and the income obtained by the manager entrusted to manage the fund property shall be enjoyed by the fund share holders according to the agreement in the fund contract. The securities investment fund stipulated in China's Securities Investment Fund Law is a typical contractual fund.