My 1999

Xu Liang was very satisfied with the reactions and expressions of the audience. Pacific Fund is the private equity fund with the highest revenue of Hanhua. It is also the trump card he has worked hard to build and the signboard of Hanhua.

Only when the signboard is polished can it attract more attention and attract more LP investment.

Looking at the pairs of fiery eyes in the audience, Xu Liang smiled and continued to stimulate these rich men.

Press the remote control in his hand.

Several different bar charts appeared on the big screen.

"Many people know that Hanhua Financial Group has three top businesses: venture capital, hedge funds and private equity.

You have all seen the returns of Pacific Fund.

What you are seeing now is the investment and returns of the first phase of the private equity fund "Qinglong".

As shown in the figure.

Qinglong Fund raised $60 billion in the first phase, which was divided into 7 funds to invest in different areas such as finance, technology, Internet, and cosmetics.

From December 3, 2004 to December 7, 2006, the total return in two years was $321.812 billion.

The average return rate was 5.363 times."

Under Xu Liang's operation, the icon on the screen changed again.

"Since Hanhua established its first venture capital fund in 2001, as of December 2006, it has 37 different venture capital funds in 23 markets around the world, with investment areas covering technology, the Internet and other fields.

In the past six years, the total amount of funds raised by Hanhua Venture Capital has grown from less than 1 million US dollars at the beginning to 23.1 billion US dollars now.

In the past six years, Hanhua Venture Capital has obtained a total return of 115.274 billion US dollars, with an average return rate of 884%.

And it has invested in a series of world-renowned companies such as Bing, No.1 Store, Facebook, LinkedIn, Skype, Biogen Idec, Celanese, and Workday..."

The dazzling charts and amazing figures made the greedy old nobles in the audience drool.

Money.

It's all money.

Blankfein's eyes were full of emotion.

No wonder Soros gathered a large group of people, raised hundreds of billions of dollars, and mobilized all the resources he could mobilize, but was still defeated by the young man on the opposite side.

He thought it was the weather that helped the other party a lot before.

But now it seems that even if there is no weather, Soros is likely to be the loser in the end.

The foundation is too strong.

Mack's eyes lit up.

He decided that from now on, JP Morgan will be the closest partner of Hanhua Financial Group.

Before Xu Liang finished speaking, someone in the audience could not help but be greedy and said loudly.

"Xu, everyone's time is very valuable. Be direct. How much money do you want to raise? We will invest."

"That's right. Everyone is very happy to cooperate with Hanhua."

"Hurry up, I can't wait."...

Looking at the eager people in the audience, Xu Liang smiled and comforted them.

"Don't worry, we have enough shares to satisfy everyone.

Next, Hanhua Pacific Fund and Qinglong Fund will raise US$50 billion and US$100 billion from the world respectively, and give priority to satisfying everyone present."

He is now open to these blue-blooded nobles to invest and put their money in Hanhua.

After getting their money, he is not afraid that they will not contribute to Hanhua.

"At the same time, in order to improve Hanhua's industrial layout, we plan to intervene in the private equity secondary market and create an S fund 'Phoenix'."

On the screen, a line of text appeared: Secondaryfund, referred to as S fund, translated into Chinese as second-hand share transfer fund.

The private equity secondary market is a market for purchasing corresponding private equity interests from existing limited partners (investors), which is composed of a large number of sellers, buyers and intermediaries.

The "secondary market" referred to here is not the secondary market of traditional stock investment, but the secondary transfer market in the private equity investment stage.

Some people in the audience started to discuss.

Hanhua has many years of successful experience in the field of private equity and hedge funds, although they raised more funds this time.

No one had any questions.

But S funds are different. Although Hanhua has a good record in the field of venture capital, it is a real novice in the S fund market.

It is still unclear whether it can be played.

"Hanhua's S fund will be set at 20 billion US dollars, and the investment portfolio will include the world's best unlisted Internet company assets.

Such as Facebook, YouTube, NBA Warriors in the United States, Kunlun Technology, Global Travel in China, Manchester United Football Club in the United Kingdom, etc."

Xu Liang kept a faint smile on his face. This S fund was the bait he threw out to bind these powerful people and let everyone form a community of interests.

In the investment portfolio, in addition to American companies, he also deliberately selected Chinese companies in order to increase some counter-attack chips.

If you are too clear-cut from the enemy, you are easy to be bombarded. Mixing with the enemy is the best way to protect yourself.

Xu Liang pressed the PPT controller in his hand and released the financial reports of each company.

"You can take a look at Facebook's financial report. It is expected that Facebook will achieve full profitability around the middle of this year, and then it will launch an IPO plan..."

"YouTube's losses are relatively large, but the user growth rate is catching up with Facebook, and it has unlimited potential..."

"Kunlun Technology will prepare for listing this year, with a target market value of 10 billion US dollars..."

"The Warriors have won the NBA championship for three consecutive years. They are the second NBA dynasty in the new century after the Lakers..."

The audience looked at the pictures on the screen seriously and listened to Xu Liang's introduction.

They have heard of these companies before, and they are indeed very high-quality companies.

Xu Liang said with a smile: "Everyone here is a wealthy person, and many of them are famous families with hundreds of years of inheritance.

If you want to achieve wealth preservation, appreciation and inheritance, global asset allocation is indispensable, because it can resist financial crises, industry decline and other risks."

Everyone smiled when they heard this. For hundreds of years, everyone has done this.

They have allocated assets or invested in some industries outside the United States.

Foreigners actually understand the principle of a cunning rabbit having three burrows.

Xu Liang continued: "The projects selected by this S fund basically have clear IPO plans and smooth exit channels.

Moreover, these Internet companies have not yet been listed, so there is a lot of room for appreciation in investment. At the same time, these companies have grown and developed, and the investment risk has been reduced to the minimum.

The success of Yahoo, Google, and Amazon is enough to prove to the outside world that investing in them before listing is definitely a good business, because the return rate is tens or hundreds of times."

Xu Liang boasted about it.

In fact, he knew it in his heart.

The only ones that are really valuable here are Facebook and Kunlun Technology.

It is precisely because of the value that he wants to find more umbrellas for the two companies.

Otherwise, once the "sweater war" starts, he will be the one who is unlucky.

And by pulling the blue-blooded nobles on the chariot, Kunlun Technology can enter the US market more smoothly.

The remaining Global Travel, Warriors, Manchester United, and YouTube are indeed of high quality.

But the most delicious parts have been bitten off by him, and the rest are like chicken ribs. If you are willing to wait for a long time, you may still get some gains.

For example, Manchester United.

Manchester United, with Kaka and Ronaldo, is making great strides in the Premier League, FA Cup and Champions League.

The Premier League is at the top of the list.

The Champions League is in the semi-finals, and the advantage of defending the title is huge.

But the subprime mortgage crisis is coming soon. Before old Europe can get up from the subprime mortgage crisis, it fell into the big pit of the European debt crisis again.

The European debt crisis has finally passed, and the soul of Manchester United, Sir Alex Ferguson, has retired.

Xu Liang knows very well what the Red Devils will be like without Sir Alex Ferguson.

He is not sure whether he can find a suitable replacement.

Therefore, a certain amount of shares can be exchanged in advance to obtain sufficient liquidity and invest in projects with higher returns, while also diversifying risks.

The same is true for the NBA Warriors.

Although he has always emphasized the protection of Yao Ming and limited his playing time.

But he can't control China.

Yao Ming, who has low durability, can retire later than his previous life, but not by a few years.

Without Yao Ming, the NBA has no investment value.

Not to mention the madman Morey.

Take advantage of the good momentum now and exit quickly.

YouTube is destined to be a long-term money-loser, and ordinary people can't afford it.

Although Global Travel looks good in the long run, it will soon face two huge pits, subprime mortgages and European debt.

Less than ten years after climbing out, it will face the bigger pit of "new crown".

Tourism is not a high-growth industry.

In addition, Universal Studios is a high-investment project.

Xu Liang also wants to take the opportunity to cash out part of his equity.

In addition, he is also preparing to put in some venture capital projects with low potential invested by Hanhua.

All these investments are mixed in one portfolio, each with its own profits and losses. Even if the rate of return is not high, it will not be a loss.

If he really makes a loss and offends these powerful people, they will probably hate him to death.

For the time being, he dare not be so ruthless. He should unite more American compradors and use them to protect himself. At the same time, he can also get some convenience by digging into the corners of capitalism in the United States.

After all, everyone is a community of interests. Providing convenience for him is to provide convenience for the investment of the powerful themselves.

"This is roughly the situation of the S Fund. If you have any questions, you can raise them now and I will answer them one by one."

Xu Liang looked at the audience and guessed that these people must have a lot of questions.

After all, it takes a lot of money to invest. Except for some business families, general political families don't have much money.

And the threshold set by the S Fund is not low, with an investment of at least 5 million US dollars.

A civil servant like Ao Guanhai, who has a little blue blood and is actually just a middle-class civil servant, really can't afford so much money.

It was only after he became the president that Ao Guanhai transformed from a middle-class person who had difficulty paying off college loans to a wealthy man who spent tens of millions of dollars to buy a seaside resort.

The annual salary of the US president is only 200,000 US dollars. Many people doubt that Ao Guanhai made a lot of money while in office.

In fact, there is no need to doubt it.

As the most dangerous "boss" in the world, he is often shot in the back. If there is no money to make, who would be willing to be the president?

Apart from other things, in order to make profits for himself, in the past few years, Xu Liang has donated more than 10 million US dollars to the charity fund under Ao Guanhai's "Jian Nei".

"Xu, S funds are divided into two categories: one is the fund shares held by private equity fund investors;

The other is the equity of the target company that the private equity fund has invested in, including common stock, preferred stock, convertible bonds, shareholder loans, etc.

I wonder which category Hanhua’s S Fund belongs to? "

"The first category is to purchase fund shares."

Xu Liang said quickly.

He had already planned that he would not sell equity, only fund shares.

In this way, funds within funds make Hanhua's LP as complex as possible.

Only by making the ingredients more complicated will it be easier for Hanhua to cause trouble, otherwise it will be easy to be attacked.

As for the second category, I’ll talk about it later. One bite won’t make you fat.

Let’s start with the first category first and wait until we get results.

It’s much easier when doing the second category.

"S Fund is the buyer, then who is the seller?"

someone asked again.

"The PE fund under Hanhua and the venture capital department under Hongyan."

Xu Liang didn't hide it, and he couldn't hide it.

The audience was in an uproar, this was a bit abnormal.

Take the operation model of S Fund as an example.

A few years ago, Zhang San invested in a private equity fund, Hanhua, and became a limited partner LP of the fund.

Recently, Zhang San's company has been experiencing tight cash flow and is in urgent need of capital turnover.

Zhang San can't wait for Hanhua's investment company Ali to go public. He hopes to sell his private equity fund shares as soon as possible to withdraw funds.

Li Si is the manager of Fund No. 1. The fund she manages specializes in acquiring private equity fund shares from other investors.

So Li Si approached Zhang San, and the two parties hit it off immediately. Zhang San sold all the fund shares he held to No. 1 Fund, and No. 1 Fund gave the corresponding money to Zhang San.

Then, No. 1 Fund replaced Zhang San and became Hanhua's new limited partner.

For example, the No. 1 fund managed by Li Si specializes in acquiring alternative asset fund shares from other investors. This is the S fund, which buys and sells second-hand goods.

The emergence of S funds has greatly alleviated the liquidity problem of private equity funds.

If an LP is short of money and wants to exit a certain project when the fund duration is up, they can find S Fund to take over the project without having to wait until the investment project is listed or the fund duration ends.

But Xu Liang does not have these problems. He created the S Fund to take over his own business.

After the audience calmed down, Xu Liang explained:

“Hanhua PE Fund and the equity holdings of various Internet companies held by Hongyan are owned by another group of LPs.

The S fund that Hanhua is currently establishing is owned by the LPs present.

These are two different batches of LP, why can't they be traded?

Of course, I am also one of the LPs of PE funds and Hongyan.

As a sensitive person, I will avoid it.

At the same time, Goldman Sachs and Morgan Stanley will be hired as financial advisors for the entire transaction process, and an independent third party will be hired to conduct audits, ensuring absolute openness and transparency. "

Hearing this, the faces of the audience brightened slightly.

We admit that you are a financial authority and a big shot in the investment field, and the funds under Hanhua are also very attractive, but you cannot fool us into thinking we are fools.

But a new problem arises again. Funds within funds are suspected of being charged multiple times?