Entrusted agency plays an important role in private equity funds. Through entrusted agency, it can realize the professional and standardized services of enterprises, and effectively establish the relationship between enterprises and investors. However, at the same time, the defect of the delegate agent leads to a certain risk in this operating mechanism. Based on the perspective of entrusted agents in private equity, this article systematically introduces the problems and reasons behind entrusted agents in private equity investment funds by sorting out relevant research results, and how to avoid risks and protect interests. For the risks of information asymmetry, contracts can be signed and sent. In the way of people's supervision and improvement of the law, for the risk of supervision, regular reporting can be adopted and the third party can be reasonably used for evaluation. For market risks, the corresponding legal mechanism can be improved. This study is of great significance for strengthening and improving the efficiency of fund operation and promoting the healthy development of enterprises.