持有香港9号牌的私募最新全名单、业绩曝光！黑翼等3家头部量化今年出海！

Core Viewpoint - The article discusses the trend of private equity firms in China seeking overseas assets, particularly through obtaining the Hong Kong 9 license, which allows them to establish asset management subsidiaries in Hong Kong and manage USD funds directly, reflecting a strategic internationalization effort [2][3]. Group 1: Overview of Licensed Private Equity Firms - As of July 21, 2025, there are 88 private equity firms that have obtained the Hong Kong 9 license and are in good standing [2]. - Among these licensed firms, 58 are subjective private equity firms, 21 are quantitative firms, and 9 are hybrid firms [2]. - In terms of scale, 38 licensed firms manage over 5 billion RMB, accounting for approximately 10% of the total, while 50 firms managing below this threshold represent only 0.66% [3]. Group 2: Geographic Distribution - The majority of licensed private equity firms are located in major coastal cities, with Shanghai having 30 firms, Shenzhen 21, and Beijing 14 [3]. Group 3: Recent License Acquisitions - In 2025, three leading quantitative private equity firms, namely Pansong Asset, Blackwing Asset, and Qianhai Bopu Asset, obtained the Hong Kong 9 license [4]. - Blackwing Asset, which received its license on March 24, 2025, is noted for its strong performance across various time frames [4][5]. Group 4: Performance Rankings - For the first half of 2025, the top-performing private equity firms include Jinhua Asset, Tianyan Capital, Longqi Technology, Ningbo Huansong Quantitative, and Jinge Liangrui, all of which are quantitative firms [6][10]. - Tianyan Capital achieved the highest returns over the past year, followed by Longqi Technology and Blackwing Asset [10][11]. - In the last three years, the top firms include Shenhui Investment, Tianyan Capital, and Baizhi Capital, with Shenhui Investment leading the rankings [14][15]. Group 5: Investment Strategies and Focus - Blackwing Asset, established in 2014, has developed a comprehensive AI-driven quantitative investment strategy, covering various approaches such as quantitative stock selection and market-neutral strategies [5]. - Tianyan Capital, founded in 2014, focuses on a pure quantitative and objective investment philosophy, managing approximately 26 billion RMB [11][12]. - The article highlights the shift in investment strategies among firms like Dongfang Gangwan, which has begun to focus on global markets and AI-related sectors [17][18].