The operation and management mode of limited partnership private equity investment fund can be simply summarized as follows: limited partnership is composed of general partner (GP) and limited partner (LP); Among them, private equity investment company initiated the establishment of limited partnership as GP, subscribed a small amount of capital contribution, and investors subscribed most of the fund contribution as LP. Private equity investment company (GP) undertakes unlimited responsibilities, is responsible for the investment, operation and management of the fund, and draws a certain percentage from the total fund amount as the fund management fee every year; Investors (LP) bear limited liability, do not participate in company management, share partnership income, and enjoy the right to know and consult. Characteristics of limited partnership PE: 1. The establishment of a limited partnership fund only needs to apply to the corresponding enterprise registration authority for registration, without the approval of the state administrative organ. Simple operation mode, flexible capital and strong adaptability. 2. It is a kind of investment with limited liability, in which the investor bears the responsibility within the promised amount of capital contribution, and the promised capital contribution can also improve the efficiency of the use of funds; 3. Limited partnership fund is not the subject of tax payment, and its tax payable is equivalent to the tax that investors need to pay for direct investment, and there is no need to pay capital gains tax and income tax, thus avoiding "double taxation".