平均每月注销近百家，私募基金管理人队伍持续“瘦身”

Core Insights - The private equity industry is undergoing significant consolidation, with 500 private institutions deregistered this year alone, and over 130 institutions facing regulatory scrutiny [1][2][4] Group 1: Deregistration of Private Equity Institutions - A total of 500 private equity institutions have been deregistered as of May 28, 2025, with an average of nearly 100 institutions deregistering each month [1][2] - Among the deregistered institutions, 260 were canceled by the China Securities Investment Fund Association (CSRC) due to operational abnormalities, loss of contact, or disciplinary actions [1][2] - The number of active private equity managers has decreased by nearly 400 since the beginning of the year, with 19,891 active managers remaining as of April 2025 [3] Group 2: Regulatory Actions and Violations - Over 130 private equity institutions have been subjected to administrative penalties or regulatory measures by the securities regulatory system this year [4] - The CSRC has issued more than 50 disciplinary decisions this year, targeting various private equity firms for violations [4] - Specific violations include improper fundraising practices, mismanagement of funds, and unauthorized trading activities [5][6] Group 3: Nature of Violations - Common violations reported include lending "channels" to establish private equity funds, misusing fund assets, and promising returns to investors [5][6] - Regulatory bodies have highlighted issues such as unregistered funds, exceeding the limit of qualified investors, and failure to adhere to investment agreements [5][6] - The Beijing Securities Regulatory Bureau has mandated that private equity managers conduct self-assessments and rectify any identified violations [6]