D1资本合伙人公司的私募投资组合去年涨幅达39%，这一成绩主要得益于对埃隆・马斯克旗下太空探 索技术公司（SpaceX）的投资。后者于上月获得了8000亿美元的估值。 责任编辑：陈钰嘉 据知情人士透露，这家火箭与卫星制造商的投资占该对冲基金风险投资及私募股权投资敞口的比例约为 45%。由于相关信息尚未公开，这些知情人士要求匿名。 他们表示，若剔除这笔投资，D1资本的私募投资组合涨幅仅为18%左右。 D1资本创始人丹・桑德海姆在周五致投资者的一封信中写道，太空探索技术公司的最新估值，体现了 其"具有变革意义的发展成果"。他还补充道，若马斯克的这家公司能够取得成功，"我们相信它将成为 推动D1资本创造价值的最大引擎"。 他们表示，若剔除这笔投资，D1资本的私募投资组合涨幅仅为18%左右。 D1资本创始人丹・桑德海姆在周五致投资者的一封信中写道，太空探索技术公司的最新估值，体现了 其"具有变革意义的发展成果"。他还补充道，若马斯克的这家公司能够取得成功，"我们相信它将成为 推动D1资本创造价值的最大引擎"。 责任编辑：陈钰嘉 D1资本合伙人公司的私募投资组合去年涨幅达39%，这一成绩主要得益于对埃隆・马斯克旗下太空 ...

近日，海外研究机构发布了《与全球最富有家族的对话》报告，深入剖析了全球最具影响力家族的生活和思维模式。该报告调研了110位亿万富豪家族负 责人，受访者的净资产合计超过5000亿美元。 本文，家办新智点节选了超富家族在投资决策流程及机制、投资偏好及私人投资方面的精华内容，希望对你有所启发。 投资流程与决策机制 一、引入正式化的组织与流程结构 对多数家族核心决策者而言，投资策略不仅是一项财务职能，更是其长期愿景、战略重点与家族传承的具体体现。 许多家族已经意识到，有必要将投资流程制度化，使其运作方式更接近机构型投资管理人。正如一位家族核心决策者所言："决策是以专业方式、通过投 资委员会作出的。" 大多数受访者（三分之一）表示，他们已经在不同程度上引入了正式化的组织与流程结构。其成熟程度通常取决于家族规模、投资组合的复杂性，以及核 心决策者愿意在多大程度上分享决策控制权。 当然，也有部分家族，尤其是资产管理规模较小的家族，选择暂缓制度化建设，认为目前尚无迫切需要："等到我们更多地将资本交由第三方管理时，我 们会建立相应结构，但在当下并不觉得有这个必要。" 二、投资团队与投资委员会 超富家族的投资决策权通常遵循以下三 ...

从私募投资ETF所属领域来看，科技ETF备受私募追捧。数据显示，2025年私募概共计进入到68只名称 中带有"科技"和"科创"字眼的年内上市ETF前十大持有人名单中，合计持有份额达11.36亿份，占到总份 额的34.00%。此外，私募持有份额不低于1000万份的106只年内上市ETF中，名称中带有"科技"和"科 创"字眼的ETF占到36只，14只私募持有份额不低于5000万份的ETF中，名称中带有"科技"和"科创"字眼 的ETF占到6只。 2025年，ETF受到私募等机构的追捧。私募排排网统计数据显示，截至2025年12月31日，共有171家私 募机构进入到209只2025年上市ETF前十大持有人名单中，合计持有份额达33.41亿份。 排排网集团旗下融智投资FOF基金经理李春瑜认为，2025年私募积极认购ETF，核心驱动力在于其综合 优势：其一，在结构性行情加速轮动的市场环境下，ETF提供了高效率、低成本与强风控的工具。其高 流动性便于私募快速执行调仓等操作；其二，ETF费率较低与持仓分散等特点有效降低了单一持股风险 和投研成本。同时，丰富的细分赛道ETF使主观策略能精准表达行业或风格观点，而量化策略则可利用 ...

陪跑中国家族办公室行业 以下文章来源于家办新智点 ，作者foinsight 家办新智点 . 一位亿万富豪匿名写道： "衡量人生的货币是时间，而不是金钱。你会非常认真地思考如何花掉一美 元，同样也应该非常认真地思考如何花掉一个小时。" 忘掉MBA——如果你想成为亿万 富翁，先翻开一本书 在一个技术驱动的时代，像ChatGPT这样的工具可以在几秒钟内总结数百页内容，坐下来读一本书似 乎显得低效。 但许多全球最成功的商业领袖长期以来一直主张相反的观点： 深度阅读依然是构建持久知识体系的 最快方式之一。 本文来自微信公众号： 家办新智点 ，作者：foinsight，题图来自：视觉中国 近日，海外研究机构发布了《与全球最富有家族的对话》报告，深入剖析了全球最具影响力家族的生 活和思维模式。该报告调研了全球110位亿万富豪家族负责人，受访者的净资产合计超过5000亿美 元。 研究显示，阅读是全球一些最富有家族最常提及、与成功密切相关的习惯，此外锻炼、持续性以及早 起同样是长期成功的重要因素。但在多次访谈中，有一个主题尤为突出： 对时间使用的高度刻意与 自觉。 微软联合创始人比尔·盖茨曾表示，阅读是他学习体系的核心组成部分 ...

新华网公告称，其全资子公司创业投资于2025年11月20日与多方签署协议，以1500万元自有资金参投设 立中保投信思创（嘉兴）股权投资合伙企业（有限合伙），占总认缴出资额2.21亿元的6.79%。近日， 该基金于11月26日完成私募投资基金备案登记。本次投资可借助专业机构资源获回报，与主业不冲突、 不影响正常经营，但可能受多因素影响，存在收益不及预期风险。截至目前，公司与私募基金合作投资 总额达6832万元。 ...

截至2025年10月底，来自百亿私募且"在私募排排网至少有3只私募产品有今年1-10月业绩展示"的基金经理共有77位， 今年 1-10月收益前10强 的上榜"门槛"超 ***% 。（ 点此查看收益 ） 10强基金经理依次是：姜云飞（久期投资）、马志宇（灵均投资）、陆航（复胜资产）、王鹏辉（望正资产）、徐进（宁波幻方量化）、陆政哲 （宁波幻方量化）、王琛（九坤投资）、殷陶（稳博投资）、倪飞（开思私募）、何文奇（诚奇资产）。 其中 9位基金经理的核心策略是股票 策略； 来自量化私募的基金经理占6位，来自主观私募的基金经理占4位。 本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 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年以来的A股、港股、美股，黄金、白银等期货市场均 有不俗表现，那么，今年来，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10月底，" 在私募排排网至少有 3只私募产品有今年1-10月业绩展示 " 的基金经理共有 565位 （其中股票策 略基金经理占345位）， 今年 1-10月收益中位数约为24.32%，跑赢同期的上证指数 ...

Group 1 - The company has announced the completion of private investment fund registration procedures in collaboration with Beijing Honghui International Energy Technology Development Co., Ltd. and Botong (Tianjin) Venture Capital Co., Ltd. [1] - The newly established industrial fund will primarily invest in projects related to the new energy industry and energy storage sector [1]

Core Insights - The article highlights the increasing enthusiasm of listed companies in China towards private equity investments, with a total subscription amount of 748 million yuan for private securities products as of November 5, 2025 [1] Group 1: Subscription Trends - Nine listed companies, including Yongji Co., Diah Co., and Chuangxin New Materials, have announced subscriptions to private equity products, involving 11 transactions [1] - The total subscription amount reached 748 million yuan, indicating a strong interest from listed companies in private investments [1] Group 2: Preference for Large Private Equity Firms - Large private equity firms with over 10 billion yuan in assets have become popular among listed companies, with four firms—Yinye Investment, Century Frontier, Yuanfeng Fund, and Liangpai Investment—receiving a combined subscription amount of 220 million yuan, accounting for 29.41% of the total [1] - Diah Co. has shown confidence in leading quantitative and mixed private equity firms by subscribing 60 million yuan to Yinye Investment and 50 million yuan to Century Frontier [1] Group 3: Diverse Investment Strategies - The subscription strategies exhibit a diversified approach, with quantitative strategies emerging as a significant choice; over 50% of the 11 subscriptions were to products from quantitative and subjective + quantitative mixed private equity firms [1] - Yaxing Anchor Chain subscribed twice to quantitative products from Yanbo Chengfeng, totaling 243 million yuan; other companies like Taiji Co., Keli Sensor, and Diah Co. also invested in quantitative products from various firms [1] Group 4: Variation in Subscription Amounts - There is a notable disparity in the subscription amounts among listed companies, with some like Yaxing Anchor Chain, Yongji Co., and Chuangxin New Materials investing over 100 million yuan, while others like Rongtai Health made a smaller attempt with 5 million yuan [2]

Core Viewpoint - Zhejiang Shuju Culture (600633) has announced an investment in a new venture capital fund, aiming to expand its investment opportunities in advanced technology and healthcare sectors, with no significant adverse impact on its operations [1]. Group 1: Stock Performance - As of November 4, 2025, Zhejiang Shuju Culture's stock closed at 13.73 yuan, down 1.44% from the previous trading day, with a total market capitalization of 17.411 billion yuan [1]. - The stock opened at 13.98 yuan, reached a high of 13.98 yuan, and a low of 13.61 yuan, with a trading volume of 286 million yuan and a turnover rate of 1.64% [1]. Group 2: Investment Announcement - The company’s wholly-owned subsidiary, Hangzhou Bianfeng Network Technology Co., Ltd., has participated in the establishment of Chengdu Jichuang Chengyuan Venture Capital Partnership (Limited Partnership) with a total subscription amount of 208 million yuan, where Bianfeng Network subscribed 18 million yuan, accounting for 8.65% [1]. - The first phase of the fund has been paid in with 7.2 million yuan, and the fund has completed private equity fund registration as of November 3, 2025 [1]. - The fund primarily focuses on investments in healthcare and advanced technology sectors, aiming to enhance the company's investment portfolio in cutting-edge fields [1].

Core Viewpoint - The private equity industry has experienced a strong recovery in 2023, with significant growth in both product performance and new product issuance, reflecting a robust market sentiment and investment opportunities [2][3]. Performance Overview - As of October 17, 2023, the average return of 5,252 private equity products with performance data reached 25.51%, significantly outperforming the market, with 579 products yielding over 50% returns [2]. - The issuance of new private equity products surged to 9,251 in the first nine months of 2023, marking a year-on-year increase of 103.77% [2]. New Product Performance - Among the newly established private equity products in 2023, 252 products with nearly six months of performance data reported an average return of 19.64% in the last six months and 21.42% year-to-date [3]. Strategy-Specific Highlights Subjective Long-Only Strategies - The average return for 72 new subjective long-only products was 26.02%, with 94.44% of these products generating positive returns [4]. - The top three products in this category were managed by Jingyan Private Equity, Zeying Private Equity, and Yingci Fund [4]. Quantitative Long-Only Strategies - The average return for 48 new quantitative long-only products was 31.58%, with 97.92% of these products achieving positive returns [7]. - The leading products in this category were managed by Wanyan Asset, Liangying Investment, and Huijin Asset [7]. CTA Strategies - The average return for 28 new CTA strategy products was 10.82%, with the top three products managed by Chiying Private Equity, Zhixin Rongke, and Chongsheng Investment [10]. - The leading product in this category was managed by Qian Jun of Chiying Private Equity, which capitalized on the rising gold market [12]. Macro Strategies - The average return for 24 new macro strategy products was 13.03%, with the top three products managed by Shanghai Shangyan Private Equity, Ruyuan Private Equity, and Jiaorui (Shanghai) Investment [14]. - The leading product in this category was managed by Chen Hao of Shanghai Shangyan Private Equity, focusing on macro-driven factors [15][16].