22.72 trillion! The scale of private equity funds hits a new record high, with billion-dollar private equity funds accelerating in size.

The private equity fund industry is showing a trend of "expanding scale and clearing players" simultaneously. The latest data released by the Fund Industry Association shows that as of the end of the first quarter, there were 140,900 surviving private equity funds with a total scale of 22.72 trillion yuan, reaching a historic high. At the same time, as of the end of the first quarter, there were 19,100 surviving private equity fund managers, and more than 180 private equity fund managers have been deregistered so far this year. Looking at a longer timeline, since January 2025, the number of surviving private equity fund managers has been decreasing month by month, with over a thousand private equity fund managers deregistered during this period. Among the existing private equity funds, the expansion of hundred-billion private equity funds and their pace of "attracting funds" are significantly faster. Data from the Private Equity Ranking Network shows that as of April 21st, the number of domestic hundred-billion private equity funds has reached 131. Other data shows that four leading quantitative private equity funds, such as Magic Square Quantitative and Jiukun Investment, have all exceeded 80 billion yuan in management scale at the end of the first quarter, moving towards the direction of "trillion-yuan private equity funds".