百亿私募2025年业绩出炉！东方港湾、日斗投资中长期领衔！幻方位居百亿量化私募第2！

Core Insights - The 2025 annual performance of China's private equity funds with over 10 billion yuan in assets has been officially revealed, showcasing significant market fluctuations and structural differentiation in global asset classes amid a complex external environment [1][13] - The A-share market exhibited a strong upward trend, with the Shanghai Composite Index rising over 18%, the Shenzhen Component Index increasing by more than 29%, and the ChiNext Index surging over 49% [1][13] - The Hong Kong market also performed well, with the Hang Seng Index increasing approximately 28% and the Hang Seng Tech Index rising over 23% [1][13] Group 1: Changes in the Private Equity Landscape - The number of private equity funds with over 10 billion yuan reached 112 in 2025, marking a return to the "double hundred era" [14] - Quantitative private equity funds now dominate the landscape, with 55 funds compared to 45 subjective funds, and 10 funds employing a "subjective + quantitative" strategy [2][14] Group 2: Performance Rankings - In 2025, 57 private equity funds met the ranking criteria, with 22 funds achieving an average return of over ***% [18] - The top 10 funds by average return include Lingjun Investment, Yuanshin Investment, and Fusheng Asset, with 7 being quantitative and 3 subjective [18][19] Group 3: Notable Private Equity Firms - Yuanshin Investment, established in 2014, focuses on long-term value investment based on deep fundamental research, achieving an average return of ***% in 2025 [19][20] - Fusheng Asset, founded in 2015, emphasizes a research-driven approach and has a strong focus on consumer, manufacturing, and internet sectors, with an average return of ***% in 2025 [20] - Ningbo Huansheng Quantitative, a major player in the quantitative investment field, achieved an average return of ***% in 2025, ranking second among quantitative funds [20] Group 4: Employee and Location Insights - Among the 112 private equity funds, 14 have over 100 employees, including prominent firms like Foreign Trade Trust and Jiukun Investment [17] - The majority of these funds are located in Shanghai (53), followed by Beijing (29) and Shenzhen (8) [17]