China’s private funds see assets soar by over US$400 billion amid tech boom

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.