又有私募投资经理立“新门户”，年内新备案管理人规模差距初显

Core Insights - The article discusses the expansion of registered private securities fund managers in the second half of 2025, with 12 new managers registered by mid-September, indicating a growing trend in the private equity sector [1][22]. Group 1: New Registrations - A total of 12 new private securities fund managers have been registered in the second half of 2025, with 6 in July, 3 in August, and 3 in September [1][22]. - The new managers include notable firms with experienced teams, such as Zhejiang Innovation Power and Hainan Sigma, which focus on securities investment and quantitative strategies, respectively [5][6]. Group 2: Manager Profiles - Zhejiang Innovation Power, established on December 18, 2024, focuses on securities investment and is backed by the Zhejiang Provincial Government [5]. - Hainan Sigma, founded on March 24, 2025, specializes in quantitative strategies for the Chinese secondary market, led by experienced professionals from major securities firms [6]. - Shanghai Rui Cheng, registered on July 14, 2025, is led by Ding Luming, a seasoned analyst with 17 years of experience in the securities industry [7]. - Shanghai Li Quan, established on April 19, 2024, is managed by Song Xiaolong, a veteran fund manager with a strong background in quantitative and systematic development [8]. Group 3: Fund Registration Statistics - As of September 16, 2025, a total of 37 fund managers have completed registration, with most managing between 0-5 billion yuan, while some have surpassed the 20-50 billion yuan range [22]. - Among these, 24 managers have registered a total of 99 funds, with Yangzhou Yuanhe leading with 34 funds registered [22][24]. Group 4: Industry Trends - The article highlights a trend of experienced professionals leaving established firms to start their own private equity firms, driven by the desire for strategic autonomy and better financial incentives [24][25]. - The competitive landscape of the private equity industry is evolving, with smaller firms gaining opportunities due to stricter regulations and the rising operational costs of larger firms [25].