The private placement manager returns the principal to the investor. The capital return of private equity fund refers to the behavior that the private equity fund manager or issuer returns the principal to the investor within a certain period of time after the investor pays a certain management fee or fixed income during the investment period of private equity fund. If the capital preservation or capital preservation clause is stipulated in the private equity fund contract, and the fund investment suffers losses, the private equity fund manager or issuer will return the principal to the investor in accordance with the contract to protect the interests of the investor.