百亿私募数量再次突破100家大关 量化和主观私募占比超九成

Group 1 - The number of private equity firms with over 10 billion yuan in assets has surpassed 100, reaching 101 as of October 22, 2025, an increase of 5 from 96 at the end of September [1] - Among the 101 firms, quantitative private equity firms are the most numerous, with 47 firms accounting for 46.53%, followed by subjective private equity firms with 44 firms at 43.56%, and mixed strategy firms with 8 firms at 7.92% [1] - The new entrants in October include 2 subjective and 2 quantitative strategy firms, along with 1 mixed strategy firm [1] Group 2 - Stock strategies dominate the core strategies of the private equity firms, with 77 firms employing this strategy, representing 76.24% of the total [2] - Multi-asset strategies account for 12.87% with 13 firms, while bond strategies make up 5.94% with 6 firms [2] - The increase in the number of billion-yuan private equity firms is attributed to the stabilization of the A-share market, leading to improved performance and scale of private equity products [2] Group 3 - The expansion of private equity firms is primarily driven by subjective private equity firms due to their flexibility in adapting to market changes and macroeconomic conditions [3] - Some subjective private equity managers possess extensive investment experience and strong stock-picking abilities, which attract continuous capital inflow [3] - Market conditions are currently characterized by structural valuation concerns, with a focus on sectors like AI applications and cyclical industries nearing capacity clearance [3]