Group 1 - The core viewpoint of the articles highlights the impressive performance of quantitative long strategies in the private equity market, with an average excess return of over 17% year-to-date as of the end of November, and over 90% of funds achieving positive excess returns [1][2] - The strong performance of quantitative strategies is attributed to increased market activity and low strategy crowding at the beginning of the year, with expectations for continued active trading in the equity market due to asset reallocation and declining risk-free interest rates [1][4] - Large and mid-sized private equity firms are leading in excess returns, with funds managing between 20 billion to 50 billion achieving an average excess return of 20.12%, and those managing over 100 billion achieving 19.98% [2] Group 2 - The influx of capital into quantitative strategies has been significant, with the number of billion-level quantitative private equity firms increasing from 33 to 55 this year, and many firms raising over 100 billion in new funds [3] - Despite recent market volatility, the pace of capital inflow remains stable, with a clear trend of residents reallocating funds to equity assets and institutions showing a positive attitude towards equity investments [4] - Looking ahead, while the rapid growth of the industry may lead to diminishing effectiveness of single factors, the integration of multi-strategy approaches is expected to provide advantages, with a focus on deep understanding of industry trends and broad coverage [5]