Core Viewpoint - The article discusses the increasing trend of public fund managers transitioning to private equity, highlighting the reasons behind this shift and the performance of these managers in their new roles [2][4]. Group 1: Manager Transition Trends - As of July 16, over 2,700 changes in fund managers have occurred this year, with 194 resignations and 307 new appointments [2]. - Notable fund managers such as Bao Wuke, Zhou Haidong, and Zhang Yufan have opted for complete resignations, with many moving to private equity [2]. - By June 2025, there are 863 private fund managers with public fund backgrounds, managing 320 products with an average return of 11.17% in the first half of the year [2]. Group 2: Private Fund Manager Performance - The majority of these transitioning managers are found in smaller private funds, with 555 managing funds between 0-500 million [2]. - High Yi Asset, Rui Jun Asset, and Qin Chen Asset are among the private equity firms with the most "public-to-private" fund managers [2]. - The top three performing "public-to-private" fund managers in the first half of the year are Lu Hang from Fu Sheng Asset, He Xiao from Xiang Cheng Capital, and Xu Shuang from Zi Ge Investment [5][8]. Group 3: Performance Rankings - In the first half of the year, 34 "public-to-private" fund managers had three or more products that met ranking criteria, with the top performers achieving significant returns [5][6]. - The article provides detailed rankings of these managers, including their backgrounds and performance metrics, emphasizing the successful transition from public to private sectors [9][12].