The restructuring of the private equity industry accelerates, with two major trends deepening and evolving.

According to the latest data from the China Securities Investment Fund Industry Association, as of the end of April, the number of domestic securities private fund managers with assets over one billion yuan is 87, a slight increase from March. At the same time, the latest monitoring by third-party institutions shows that the number of private fund managers decreased by 34 in April. Against the backdrop of increasing filing thresholds and operating costs, some small private funds are continuously exiting the market. In addition, while many private funds are joining the "billion club," quantitative fund managers have become the main force. Overall, the trend of polarization in the private fund industry and the strong recovery of quantitative strategies are deepening and evolving.