2025年百强私募榜出炉！翰荣、幻方跻身量化10强！新晋百亿国源信达位居主观前列

Core Viewpoint - The A-share market in 2025 is characterized by "high volatility + structural bull" trends, allowing both subjective and quantitative private equity funds to find their respective Alpha sources [2] Group 1: Quantitative Private Equity - Quantitative private equity funds leverage "speed, breadth, and discipline" to thrive in a highly active market with rapid industry shifts and significant pricing discrepancies in small-cap stocks, leading to both scale and performance growth [2] - Among the top 100 quantitative private equity funds, the threshold for ranking in 2025 was set at ***% [3] - The top 10 quantitative private equity funds include Tianhui Investment, Hainan Gaia Qingke Private Equity, Lingjun Investment, Longyin Huaxiao, Hanrong Investment, Yunqi Quantitative, Ningbo Huanfang Quantitative, Zhixin Rongke, Xinhong Tianhe, and Xiangmu Asset [3][6] Group 2: Subjective Private Equity - Subjective private equity funds are characterized by "patience, depth, and timing," with a multi-line rotation in 2025 across sectors such as technology, new consumption, pharmaceuticals, and cyclical stocks, resulting in standout stocks like Shangwei New Materials, Tianpu Co., and Shenghong Technology [2] - The top 100 subjective private equity funds had a ranking threshold of ***% for 2025 [13] - The top 10 subjective private equity funds include Beijing Xiyue Private Equity, Qiantou Investment, Fuyuan Capital, Luyuan Private Equity, Zhihua Asset Management, Jingyan Private Equity, Beiheng Fund, Rongshu Investment, Nengjing Investment Holdings, and Yuanwei Investment [13][14]