Breaking News! CPIC's private equity officially registered, with a massive investment of 20 billion entering the market

Another "insurance capital" stock private equity fund has officially been registered.

Zhitang noticed that Taibao Zhiyuan (Shanghai) Private Fund Management Co., Ltd. (hereinafter referred to as "Taibao Zhiyuan Private Fund") registered as a securities private fund manager with the Asset Management Association of China on June 21, 2025.

The shareholder of this private fund institution is Pacific Asset Company, which is ultimately controlled by China Pacific Insurance.

This is also the latest case of a first-tier large insurance company further participating in the pilot mechanism for long-term stock investment by insurance capital.

Management Team Unveiled

According to the registration information from the Asset Management Association of China, the legal representative of Taibao Zhiyuan Private Fund is Xiang Tao, who also serves as the company's general manager and financial officer.

His resume shows that Xiang Tao previously worked at the financial headquarters of Shanghai Pharmaceuticals Holding Co., Ltd., responsible for budget management. In 2007, he moved to Tianxiang Investment Co., Ltd. as an industry researcher.

From 2009 to 2013, Xiang Tao served as a senior researcher at Industrial Securities, and in February 2013, he officially joined Pacific Asset, where he held the position of director in the equity investment department of this insurance capital institution.

Another registered executive of Taibao Zhiyuan Private Fund is He Jiacheng, who worked in the risk management department of Pacific Asset from July 2017 to June 2025, serving as vice president.

In addition, the registration information of Taibao Zhiyuan Private Fund involves another related party, namely Taibao Private Fund Management Co., Ltd., which is a private equity venture capital fund under China Pacific Insurance, with a scale exceeding 10 billion RMB.

Target Scale of 20 Billion RMB

As of now, Taibao Zhiyuan Private Fund has not registered any fund products.

According to previous information released by China Pacific Insurance, the initial target scale of the aforementioned private fund is 20 billion RMB, aiming to respond to the national call to "expand the pilot reform of private securities investment funds established by insurance institutions," actively practice long-termism, and leverage the advantages of patient capital.

Regarding investment strategies, China Pacific Insurance has stated that it will further improve the long-cycle equity asset allocation system, focusing on a core investment strategy of dividend value, to support the sustainable and healthy development of the capital market.

Multiple Insurance Giants Entering the Market

With the gradual advancement of the pilot program for long-term stock investment by insurance funds, several well-known insurance companies have initiated the establishment of private securities funds.

In 2024, China Life and Xinhua Insurance jointly established Honghu Private Fund, with the first phase scale of 50 billion RMB, focusing on high-quality listed companies with large market capitalization, good liquidity, and high market influence. In May 2025, Xinhua Insurance and China Life collectively invested 20 billion RMB to subscribe to the second phase of Honghu. Currently, Honghu Private Fund is promoting the landing of the third phase of funds, with a target scale of 22.5 billion RMB.

In addition, since 2025, Sunshine Life has revealed plans to invest 20 billion RMB in the Sunshine Heyuan Private Securities Investment Fund.

Taikang Life, as a single holder, plans to invest in the contract-type private securities investment fund issued by Taikang Stable Private Fund Management Co., Ltd., with an expected initial investment scale of 12 billion RMB.

Hengyi Holding will act as the fund manager to issue a contract-type private securities investment fund to Ping An Life, with an initial fund scale of 30 billion RMB