Private equity funds cannot invest in non-standard. Article 2 of the Provisional Regulations on the Management of Private Investment Funds (Draft for Comment) published on August 30, 20 17 stipulates that the regulations are applicable to private equity investment funds and private equity investment funds; Private equity fund property can only be invested in securities and their derivatives, shares of limited liability companies, fund shares, and other investment products as stipulated by the State Council Securities Regulatory Authority.