1. Private equity funds: Private equity investment (also known as private equity investment or private equity fund, Private Fund) is a very broad concept used to refer to investment in any kind of equity assets that cannot be freely traded in the stock market.

Passive institutional investors may invest in private equity funds, which are then managed by private equity firms and invested in target companies.

Private equity investments can be divided into the following categories: leveraged buyouts, venture capital, growth capital, angel investing and mezzanine financing, among other forms.

Private equity investment funds generally control the management of the companies they invest in, and often introduce new management teams to increase the company's value.

2. Organizational structure of private equity funds: 1. Structure 1: Investors in corporate corporate funds participate in the investment of the fund as shareholders, enjoy shareholder rights stipulated in the "Company Law" in accordance with the law, and have limited liability for company debts limited to their capital contributions.

responsibility.

Fund managers can exist in two forms: one is to directly participate in the company's investment management as a permanent director of the company as a senior manager of the company; the other is to accept fund entrustment for investment management as an external management company 2. Structure

2: Limited partnership partnership funds rarely adopt the form of general partnerships and generally adopt the form of limited partnerships.

Investors in limited partnership funds participate in investments as partners and enjoy partnership property rights in accordance with the law.

The general partner exercises civil rights on behalf of the fund and bears unlimited joint and several liability for fund debts.

Other investors, as limited partners, bear joint and several liability for fund debts to the extent of their subscribed capital contributions.

Judging from international industry practice, fund managers generally do not serve as general partners, but accept the entrustment of general partners to manage fund investments, but the two are generally related.

The current domestic practice is generally that the fund manager serves as the general partner.

3. Structure 3: Trust system A trust system fund is established by the fund holder as the trustee and beneficiary. The fund manager serves as the trustee in accordance with the fund trust contract and exercises the fund property rights in his own name for the benefit of the fund holder.

, and assume corresponding fiduciary responsibilities.