12月12日，2025"聚力共赢，智领未来"私募生态合作峰会，在深圳盛大启幕，本次活动由平安证券主 办，证券时报、新财富杂志社联合主办，大会超300家机构参与此次活动，其中，私募机构超230家，家 办、信托、FOF机构超70家。 本次大会盛大举行，旨在搭建交流平台，共同探讨在监管与创新双轮驱动下，中国私募行业的演进路 径、投资新范式与生态合作新机遇。 平安证券始终坚定围绕国家战略，践行金融服务实体经济的时代使命，将自身发展融入"建设金融强 国"历史进程，奋力谱写金融"五篇大文章"，为建设健康有序的资本市场上发挥作用。主办方平安证券 副总经理姜学红在致辞中表示，近年来，平安证券为顺应私募行业发展趋势，更好地满足私募管理机构 在资金服务、交易服务和增值服务等方面的核心诉求，依托平安集团综合金融优势构建机构经纪服务平 台，不断优化、完善机构经纪业务的服务生态体系，赋能私募基金的成长和发展，已经成为私募基金不 可或缺的战略合作伙伴。 未来，平安证券将不遗余力支持优秀私募基金做大做强，持续优化以资金、交易和增值服务等为核心的 服务体系，与市场各方，尤其是优秀的私募基金携手，共同为资本市场引入长钱活水，助力资本市场持 续 ...

Core Insights - The private equity fund management scale in China has reached a historical high of 22.05 trillion yuan by the end of October 2025, marking a significant increase from previous months and indicating a structural transformation within the industry [1][2]. Fund Management Scale - As of October 2025, the number of newly registered private funds was 1,389, with a new registration scale of 670.10 billion yuan. The total number of existing private funds reached 137,905, with a total scale of 22.05 trillion yuan, surpassing the previous high of 20.82 trillion yuan in July 2023 [2][1]. Structural Changes in the Industry - The number of private fund managers has decreased from 21,996 in July 2023 to 19,367 by October 2025, indicating a trend of consolidation and increased concentration in the industry. This is attributed to heightened regulatory compliance costs and the exit of smaller firms lacking competitive advantages [3][4]. Growth of Securities Private Funds - The scale of securities private funds has seen significant growth, with an increase of 1.13 trillion yuan since July 2023, while private equity funds saw a slight decrease. By October 2025, the scale of securities private funds reached 7.01 trillion yuan, marking a notable milestone [4][5]. Competitive Landscape - The industry is shifting from a focus on scale to a focus on capability, with an emphasis on investment research, risk management, and differentiated services. The competition is expected to intensify as firms strive to enhance their comprehensive service capabilities [6][7]. Future Outlook - The private equity industry is anticipated to benefit from increased allocation of risk assets by domestic residents, driven by declining deposit yields. Regulatory measures are expected to enhance investor trust and support the long-term growth of the private equity sector [6][7].