The total number of private equity funds exceeding billions has reached a new high again, with long-term capital accelerating its "arrival", driving the rapid rise of private equity in the insurance industry.

The data from Pivate Equity Ranking Network shows that as of April 30, 2026, the number of private equity firms with assets over 100 billion has increased to 136, an increase of 4 from the previous month, reaching a new historical high. Among these four "new faces," Sunshine Hengyi Private Equity Fund Management Co., Ltd. is controlled by Sunshine Asset Management Co., Ltd., which also means that the number of private equity firms with insurance background has expanded to 5. Tian Lihui, Dean of the School of Finance at Nankai University, stated that the significance of the rapid expansion of private equity funds with insurance background lies in providing a replicable institutional channel for the entry of medium to long-term funds into the market. If this model is extended to areas such as pension funds and enterprise annuity funds, it will fundamentally change the market's investor structure and pricing logic, and promote the transformation of the capital market from a speculative to an allocative model.