Group 1 - The total number of billion-dollar private equity firms remains at 90 as of July 2025, with a notable increase in quantitative firms to 44, marking a historical high, while subjective firms decreased to 39 [1][2] - The average return for the 55 billion-dollar private equity firms with performance data reached 16.60%, with quantitative firms outperforming subjective firms, achieving a full profit status [1][4] - The distribution of billion-dollar private equity firms is concentrated in major cities, with Shanghai having 39 firms, Beijing 24, and Shenzhen 6 [3] Group 2 - The quantitative private equity sector is expanding, now comprising 49% of the billion-dollar firms, indicating a shift in strategy focus within the industry [2] - Among the 42 billion-dollar private equity firms with returns exceeding 10%, 32 are quantitative, highlighting their strong performance compared to subjective firms [4] - The average return for 16 billion-dollar subjective private equity firms is 13.59%, with a significant portion achieving positive returns, but the performance gap between quantitative and subjective firms is widening [5]

量化与主观百亿私募的"分化"仍在继续。 私募排排网最新数据显示，截至2025年7月底，百亿私募总数维持90家不变。其中，量化机构净增2家至44家， 创历史新高，而主观私募则净减2家至39家。 值得注意的是，随着量化私募的超额业绩持续亮眼，资金正在加速流向量化阵营，百亿私募的版图也在悄然重 塑。 此外，百亿私募也交出了一份亮眼的成绩单。截至2025年7月底，纳入统计的55家百亿私募平均收益达 16.60%，量化私募再度跑赢主观机构，不仅实现"全员盈利"，且32家量化私募收益超10%。 百亿量化军团再扩容 百亿私募不仅是规模标杆，更是行业的风向标。 私募排排网数据显示，截至2025年7月底，百亿私募总数为90家，环比持平。但从结构来看，量化与主观策略 呈现明显分化：量化百亿私募增加至44家，占比达49%，净增2家；主观百亿私募降至39家，占比缩至43%， 净减少2家。 具体来看，较6月底，7月有3家私募退出百亿阵营，均为主观私募；3家私募新晋百亿，分别是久期投资、千衍 私募、上海波克私募，除久期投资为主观私募外，其余2家皆为量化私募，核心策略分别为债券策略、股票策 略、多资产策略。 其中，上海波克私募相当"年轻" ...

智通财经记者 | 龙力 今年百亿私募"阵营"大洗牌。 中基协数据显示，截至7月23日，证券类百亿私募数量为91家，总数相较于年初时仅增加3家，但结构来看，有16家滑落出百亿行列，同时新进19家。 也就是说，和年初相比，百亿私募成员中有接近两成为"新面孔"。 按照第三方平台划分的投资模式来看，目前的91家证券类百亿私募中，有42家为量化私募，40家为主观私募，8家为主观+量化私募，另有1家未披露投资模 式。 年内百亿私募名单变化呈现出明显的"量化爆发、主观落寞"的景象。 ! . . . | 类型 | 公司简称 | 实控人 | 成立时间 | 管理规模 | | --- | --- | --- | --- | --- | | 跌破百亿规模 | 国寿城市发展产业投资 | 一州产业投资基金 | 2014/4/2 | 20-50亿元 | | | 上汽顾钱 | 上海汽车集团 | 2018/2/11 | 5-10亿元 | | | 映雪资本 | 郑宇 | 2012/4/17 | 50-100亿元 | | | 半夏投资 | 李儒 | 2015/8/11 | 50-100亿元 | | | 远信投资 | 刘岩 | 2014/9/25 ...

私募基金经理是私募产品的"掌舵人"，是投资者在挑选私募产品时的重要参考因素。2025年上半年已经落幕，私募基金经理整体业绩如何呢？又有哪些基 金经理脱颖而出呢？ 根据私募排排网数据，截至2025年6月底，"在私募排排网有3只及以上的私募产品有今年上半年业绩展示"的私募基金经理共有513位（其中股票策略基金 经理占319位），上半年收益均值约为10.56%，大幅跑赢同期的上证指数（2.76%）、深证成指（0.48%）。 从公司规模划分来看，来自10-20亿规模私募的基金经理上半年收益均值相对领先，紧随其后的是百亿私募基金经理。 经统计，上半年收益在***%以上的基金经理有73位。为了给投资者提供一些参考，笔者分规模（100亿以上、50-100亿、20-50亿、10-20亿、5-10亿、0-5 亿）梳理出了各规模组中今年上半年收益居前10强的基金经理。 [应监管要求，私募产品不能公开展示业绩，文中涉及收益数据用***替代。] 经梳理，6个规模组中有5个规模组冠军来自主观私募。在公司规模超50亿的头部私募组中，10强基金经理多来自量化私募，但冠军均来自主观私募；而在 公司规模不足50亿元的中小规模私募组中，10强基 ...

Group 1 - The A-share market showed a fluctuating upward trend in the first half of the year, with small-cap growth style indices performing strongly and significant structural market characteristics [1] - The average return of 50 billion private equity firms reached 10.93% in the first half of the year, significantly outperforming the Shanghai and Shenzhen 300 Index, with 94% of firms achieving positive returns [1] - Among the profitable billion private equity firms, 20 firms had returns within 10%, 21 firms had returns between 10% and 19.99%, and 6 firms had returns of no less than 20% [1] Group 2 - Quantitative private equity firms benefited from the active small-cap market and improved liquidity, achieving an average return of 13.72% in the first half of the year, with all firms reporting positive returns [2] - In the 27 billion private equity firms with returns of no less than 10%, 24 were quantitative firms, indicating a strong performance in this category [2] - The average return of 14 subjective billion private equity firms was 5.51%, with only 85.71% achieving positive returns, showing a significant underperformance compared to quantitative firms [2] Group 3 - Mixed strategy private equity firms outperformed subjective firms, with an average return of 7.62% and 75% achieving positive returns [2] - The market outlook for the second half of the year suggests a potential recovery in profit factors during the mid-year performance window, supported by a favorable liquidity environment [2] - Financial securities indicate that the market may continue to experience wide fluctuations in the third quarter, with ongoing rotation among market styles [3]

Group 1 - The private equity fund industry is undergoing a new round of reshuffling, with the number of private securities investment fund managers reaching 87 as of May 12 [1] - The industry is experiencing a "survival of the fittest" trend, with 4 firms temporarily exiting the "100 billion club" while 7 firms have newly entered or returned, including 4 quantitative and 3 discretionary firms [1] - Three positive changes in the market since the beginning of the year include increased trading activity, improved investor sentiment, and validated risk control capabilities of leading private equity firms [1] Group 2 - As of April 30, the average return of the 49 disclosed 100 billion-level private equity firms is 4.14% year-to-date, with nearly 90% achieving positive returns [2] - Quantitative private equity firms have shown outstanding performance, with all 30 firms achieving positive returns and an average return of 5.90% [2] - The success of quantitative private equity firms is attributed to five core advantages, including a robust data analysis system, strict risk control mechanisms, and adaptability to current market conditions [2] Group 3 - Investors are increasingly inclined to choose established firms with mature strategies, and the trend of "the strong getting stronger" in the private equity fund industry is expected to continue [3] - Future challenges for private equity firms include balancing scale expansion with performance stability and enhancing adaptability while maintaining strategic uniqueness [3]

随着A股市场持续回暖，私募行业头部格局再迎洗牌。私募排排网数据显示，截至5月12日，当前百亿 证券私募管理人数量为87家，较3月的84家增加了3家。 具体来看，4家百亿私募暂时退出百亿阵营，同时7家私募新晋或重返百亿行列，其中上海睿量私募、君 之健投资和珠海宽德为新晋百亿私募，而红筹投资、遂玖私募、顽岩资产和锐天投资则是重返百亿。从 类型来看，7家新晋或重返百亿行列的私募中，上海睿量私募、珠海宽德、顽岩资产和锐天投资均为量 化私募。君之健投资、红筹投资和遂玖私募则为主观私募。 市场波动下私募行业的竞争加剧，资金持续向业绩稳健的头部私募集中。截至5月12日，主观百亿私募 数量有41家，占到百亿私募总量的47.13%；百亿量化私募有38家，占到百亿私募总量的43.68%；主观 +量化混合的百亿私募有7家，占到百亿私募总量的8.05%；另外有1家暂不确定类型。 正圆投资的观点称，当下市场定价或已现拐点，一方面，央行最新发布的稳市政策，进一步为扩大内 需、科技创新注入强心剂；另一方面，关税壁垒正在倒逼产业链垂直整合、数字贸易新基建与区域本币 结算网络的发展，更进一步重构全球资本对于中国资产风险溢价的认知，在技术突围、 ...