What's the difference between direct investment management department (direct investment) and PE?

Direct investment in securities uses its own funds for investment, and the upper limit of its own funds is 65438+ 05% of the net capital of the securities company.

At present, the regulatory authorities have limited the business scope of "direct investment" of domestic securities companies to Pre-IPO, that is, investing in companies to be listed, and initially set rules such as "the investment period shall not exceed 3 years".

The above two points are the main differences.