The number of private fund managers in China with assets under management exceeding 10 billion yuan reached 122 as of the end of January 2026, setting a new historical record, according to data from Private Placement Ranking Network.

This represents an increase of 10 firms compared with the 112 recorded at the end of December 2025.

In detail, eight private funds crossed the 10 billion yuan threshold for the first time and five private funds returned to the 10 billion yuan club.

By office location, Shanghai accounts for 57 private funds, Beijing for 29, Shenzhen for 10, Hangzhou and Chengmai (Hainan) for five each, with smaller numbers in other cities.