Registration and filing conditions for private equity fund managers，Private equity will return to its roots in asset management in the future

2025In September 2019, the Fund Industry Association established the “Lost Contact(abnormal)"Private equity institution public disclosure system，For private investors who cannot be contacted by phone or other means，Release the list of missing private equity institutions to the public。2025The Asset Management Association canceled the registration of the manager in 2016，Most of them are cleaning up and not complying with registration and filing regulations.、"Empty shell" private equity that has not been operating for a long time。

From the current situation，In addition to canceling the qualification of private equity managers，The Fund Industry Association has made new moves，Put relevant missing private equity fund managers and executives on the "blacklist"，Revoke his fund business qualification。

Many private equity companies have been registered before，However, it does not issue private equity products，According to data from the Asset Management Association，As of July 17, 2025，A total of 688 securities private equity institutions have been registered for more than one year and have zero management scale.，There are 796 private equity firms、The management scale of a venture capital fund manager registered for more than one year is zero.。

According to the regulations of the Fund Industry Association，Private equity funds must issue the first registered product within 6 months after successful registration，Otherwise, your qualification as a private equity fund manager will be cancelled.。Among these “shell” private equity companies，There may also be hidden risks of illegal fund-raising。

Xinda Zhonghui was canceled as a private equity manager，Its legal representative registered a number of "shell" subsidiaries between 2013 and 2014.，and by advertising on the grounds of private equity investment、Short message、WeChat, etc.，Fictitious and exaggerated investment project values，Illegal deposit taking amounts to more than 500 million yuan。 future，Private equity, like public equity, must return to the origins of asset management，Stay away from passage、Lending business，Only in this way can the steady development of the industry be ensured。

Xu Li suggested this，From the perspective of healthy industry development，Hope to increase risk investigation and supervision，Increase penalties for non-compliant or non-compliant institutions，To improve managers’ compliance awareness。Strengthen prevention in registration and filing，

Require

Formal hosting agency，Ensure the independence of fund assets。

To apply for a private equity license or register as a private equity fund manager, you must meet the following basic conditions:

1. Legally register a manager company in China，You can choose between a limited company or a limited partnership；
2. Registered capital 10 million or more，More than 25% of the actual payment is in place
3. Entrust a law firm to issue a registration legal opinion，Need to prepare in advance；
4. Have at least 3 senior executives with more than 3 years of relevant experience，There must be a person in charge of risk control among senior executives
5. Executive resumes must be true，The Asset Management Association will conduct spot checks and interview senior executives from time to time.
6. Senior executives must have relevant professional qualifications and bachelor degree or above.
7. Enterprises must have complete risk control、internal control、Personnel trading、Information disclosure and other systems

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