As of early 2026, more than 123 onshore hedge and private funds each manage over CNY 10 billion in assets. Collectively, that group controls more than CNY 2 trillion, roughly $289 billion, marking a new high-water mark for China’s alternative investment landscape.
Quant funds and AI are doing the heavy lifting
Quantitative funds now account for 54% of onshore hedge funds with AUM exceeding CNY 10 billion. Tech and AI sectors are attracting significant capital in China’s private markets, with managers racing to build positions in everything from semiconductor supply chains to large language model infrastructure.
For context, Chinese securities-focused private funds hit a previous peak of approximately $1.63 trillion in AUM back in 2017.
Private equity exits are finally happening
