Core Viewpoint - The private equity industry is experiencing a resurgence in overseas expansion, with many firms obtaining Hong Kong's Type 9 license and attracting foreign institutional funds to invest in the A-share market [1][2]. Group 1: Market Dynamics - The number of private equity firms holding the Type 9 license has reached 87 as of July 21, 2023, including 58 subjective and 20 quantitative firms [2]. - International investors are increasingly interested in Chinese asset managers, with funds from regions like the Middle East and Europe being directed towards the Chinese market [2][3]. - The Chinese market's investment appeal is bolstered by supportive macroeconomic policies and emerging growth sectors such as advanced manufacturing and green technology [3][7]. Group 2: Role of Securities Firms - Chinese and foreign securities firms are actively competing in the private equity overseas business, providing services such as license applications, fundraising, and trading [1][4]. - Securities firms play a crucial role in the entire process of private equity overseas expansion, from recommending intermediaries for license applications to providing compliance and legal support [5][6]. - The demand for services related to private equity overseas expansion has significantly increased, leading to a noticeable uptick in business for securities firms [4][5]. Group 3: Opportunities and Challenges - The private equity industry faces both opportunities and challenges in overseas markets, including the need for international experience and the high operational costs associated with overseas expansion [7]. - While overseas markets offer lower interest rates and abundant financing resources, challenges such as obtaining licenses and higher operational costs remain significant hurdles [7]. - Understanding international investors' needs and clearly articulating investment strategies are essential for success in the overseas market [7].

Group 1 - The core viewpoint of the articles highlights the resurgence of private equity firms venturing overseas, driven by a recovering market and increasing interest from international investors in the Chinese market [1][2] - Several private equity firms have obtained the Hong Kong Type 9 license, with a total of 87 firms holding this license as of July 21 this year, including 58 subjective and 20 quantitative private equity firms [2] - International investors are showing significant demand for access to the Chinese stock market, prompting private equity firms to develop products tailored to these investors [3] Group 2 - Chinese private equity firms are expanding their global presence to diversify revenue sources and enhance their investment capabilities, with a focus on A-share investments [2][5] - Domestic and foreign brokerages are actively supporting private equity firms in their overseas endeavors, providing services such as license applications, fundraising, and compliance support [4][5] - The integration of overseas trading systems is crucial for quantitative private equity firms, which rely on high-quality market data and efficient trading infrastructure [6] Group 3 - The current environment presents both opportunities and challenges for private equity firms, including the need for international experience and the high operational costs associated with overseas markets [7] - The interest from high-net-worth individuals in China for diversified investments is increasing, while international investors are also keen on the Chinese market, creating a "dual outbound" dynamic [7] - Understanding international investors' needs and clearly articulating investment strategies are essential for private equity firms to succeed in the global market [7]

【导读】私募出海风再起，券商竞逐相关业务 中国基金报记者 吴君 见习记者 舍梨 伴随着市场回暖，今年以来，私募出海风再起，多家私募取得香港9号牌，同时，一些私募获 得了海外机构资金青睐，将所募资金投向A股市场。 受访机构表示，中国市场的配置价值让私募出海更有"底气"，同时，通过全球化布局，私募 能够拓展多市场、多策略的收益来源。不少中资海外券商、外资券商积极竞逐私募出海业 务，提供牌照申请、资金募集、融资融券、交易等多种服务。当前，私募出海机遇与挑战并 存，私募需要专注于提升运营能力和积累海外基金投资业绩。 私募出海提速： 从牌照布局到竞争力构建 今年以来，黑翼资产、前海博普资产、磐松资产等量化私募获得了香港9号牌照，为未来业务 出海拿下许可证。据私募排排网统计，截至今年7月21日，已获得9号牌照且牌照为存续状态 的私募共有87家，其中，主观私募有58家，量化私募有20家，"主观+量化"的私募有9家。 "据我了解，今年有几家私募拿到了中东、欧洲的资金，如养老金、主权基金等长线资金。与 此同时，一些海外机构投资人想接触和了解优质的中国管理人，因为现在他们对中国市场兴 趣浓厚，希望积极配置。"一家中资券商的市场人 ...