China’s Private Fund Assets Hit Record as Quant Managers Surge

China's private funds see assets soar amid tech and AI investment boom

China's onshore private funds managing over CNY 10B each now collectively hold CNY 2 trillion ($289B) in AUM, with quant strategies representing 54% of that cohort and PE exit values tripling from $17B in 2023 to $53B in 2025. For tech investors and allocators, the quant dominance signals a structurally different competitive landscape in Chinese private markets, while the PE exit recovery warrants calibrated optimism given Beijing's demonstrated willingness to intervene on policy grounds.