Chapter 450 Strategy
“I think everyone knows that the company’s Kunpeng Fund made huge profits from the surge in international oil prices in March...”
“USD 8.9 billion! "
A voice suddenly sounded.
Xu Liang glanced at him with a smile. Except for a few, most of the people who joined Hanhua were young people in their twenties and seventies. They were extremely talented, enthusiastic and bold.
"That's right, US$8.9 billion. By the end of the year, the company can earn at least US$3 billion in returns. By then, all employees of Kunpeng Fund will receive generous bonuses."
As soon as Xu Liang finished speaking, everyone looked at The eyes of Kunpeng Fund employees became envious.
Xu Liang saw this and smiled: "What needs to be said is that Kunpeng Fund is not the most profitable fund in the company. Qinglong No. 1 Fund will also expire at the end of this year.
According to Judging from the current situation, the company can at least achieve a return of more than 5 times.”
The envy of everyone soon became the employees of Qinglong No. 1 Fund.
"Thanks to the company's huge profits, funds such as Kunpeng 2 and Qinglong 3 have been relatively successful in raising funds. The company's capital under management will exceed US$40 billion and become the third largest private equity firm in the world after Blackstone and Carlyle Group. Institution. ”
Wow….
Warm applause sounded again.
For them, Hanhua is a platform to enhance their own value.
The better Hanhua develops, the more senior their qualifications will be. Even if they leave in the future, they can find higher-paying jobs in other organizations.
"The development of the company is about to reach a new level. I hope that everyone can work together to develop the company better and make Hanhua the world's number one private equity institution as soon as possible.
By then, you will be The most respected elites in the private equity field are always guests of dignitaries wherever they go."
After a pause, Xu Liang felt a little emotional when he saw the increasingly fiery emotions in everyone's eyes.
Young people are still easy to fool.
For the veteran, such a blank check is not very tempting at all.
It's polite of me to applaud you.
No wonder many company bosses like young people.
"Okay, that's all I have to say. The heads of each fund will stay, and others can leave the meeting."
After everyone leaves.
Only Sun Zhenping, the head of White Tiger Fund and the president of Hong Kong headquarters, Liao Yan, head of Phoenix Fund, Guo Shaojie of Qinglong Fund and Qiu Heng of Kunpeng Fund are left here.
The latter three are also vice presidents of the Xiangjiang headquarters.
"Liao Yan, how is the Phoenix 2 Fund raising going?"
"U.S.$2 billion has been fully raised and can be invested at any time."
Liao Yan said directly.
Xu Liang nodded, "Do you know Marvel?"
"You know? One of the largest comic companies in the United States, Hulk, Blade and Wolverine are all their copyrights."
"It's good to know. The main task of the Phoenix 2 Fund next is to Wei bought it."
Liao Yan hesitated slightly after nodding.
“Mr. Xu, since the Suzaku Fund was separated from Phoenix and focused on the domestic market, it is no longer appropriate for Phoenix to stay in Hong Kong. We are too far away from our investment goals. Just like the last acquisition of Manchester United, most of the It was all from the London company.
So I applied to move the Phoenix Fund’s main office to New York.
This way we don’t have to fly back and forth across the Pacific, saving a lot of time and energy. "
Xu Liang thought for a while and nodded.
Indeed, after Phoenix Fund focuses on overseas, it is no longer appropriate to stay in Hong Kong.
"Then you move Go to New York. "
"Thank you, Mr. Xu. ”
"You're welcome, I will agree to anything that is beneficial to the company."
Xu Liang's eyes changed.
“Shaojie, how close is the Green Dragon Fund No. 3 to being fully raised?”
“The gap is about US$2.1 billion, but judging from the current growth rate, it will be completed in mid-June at most. We can raise everything."
Guo Shaojie said.
He now manages one of the largest fund-of-funds funds of Hanhua Capital.
Qinglong No. 1, Qinglong No. 2 and the newly established Qinglong No. 3 have over US$22 billion in funds under management and over US$50 billion in assets under management.
Qinglong No. 1 and No. 2 have experienced astonishing gains; Qinglong No. 3 has successfully raised funds. Although he is only responsible for management and not for specific investments, he still feels proud of it.
But while I am excited and happy, I also feel a heavy responsibility.
After all, Qinglong’s funds are too huge.
When Qinglong 3 completes its investment, the asset value of the entire Qinglong Fund will exceed US$100 billion.
At that time, he will be worried about the candidates for directors of dozens of large or even giant companies, as well as all aspects of information.
"How is the matter I asked you to investigate now?"
"The investigation has been completed."
As he said that, Guo Shaojie took it from his briefcase A stack of documents was handed to Xu Liang.
"Since Nantai Real Estate was listed in the United States in 1991, there have been 37 Chinese companies listed on the New York Stock Exchange and Nasdaq in the United States.
The one with the highest market value is PetroChina, with the current market value 15.4 billion US dollars.”
PetroChina is partially listed in the United States, and the market value of the New York Stock Exchange only represents a part of the real market value.
"Followed by Sinopec, China Southern Airlines and Chinalco, the total market value is about US$43.5 billion." After a pause.
"Hong Kong red chips first appeared in 1997, represented by several companies such as Aerospace Technology, China Merchants Group, China Resources, Modu Industrial, and Jingcheng Holdings.
For example, when Jingcheng Holdings subscribed, the subscription rate was as high as 1,200 times, with some 60 consortiums invested hundreds of billions of dollars in frozen funds, setting a new record for the Hong Kong stock market at the time.
The current red chip stock with the highest market value is China Unicom, with a market value of HK$89.4 billion, followed by PetroChina, Sinopec and other companies. There are 137 red-chip companies in Hong Kong, with an overall market value of US$197.6 billion.”
Xu Liang put down the documents in his hand.
“Next, Qinglong No. 3 will mainly focus on listed companies in Mainland China, with the prefix Guo as priority, and hold more than 5% of the shares, but not too much.
Secondly, real estate companies, mainly domestic real estate companies, if not enough, invest in Xiangjiang Real Estate Company, holding about 5% of the shares.
Then you can do whatever you want, mainly large companies, and you don’t need to hold too many shares. ”
What follows is an era of great economic development in China and a booming real estate industry.
Companies with the prefix Guo and real estate companies, although not as good as Internet companies, are also developing rapidly.
After writing down Xu Liang’s request
"Mr. Xu, how much leverage should be used?"
"Twice the leverage for energy and real estate, and don't use it for the rest. We will increase leverage when the stock price rises."
Although the Federal Reserve has begun to increase leverage, interest rates, but the federal funds rate is still very low, and the cost of increasing leverage is not high.
Although he can increase leverage, Xu Liang also understands that it will be difficult to obtain an average annual increase of double.
After all, Qinglong No. 1 and No. 2 have already taken up most of the companies he is optimistic about, and the rest are either not listed or have inappropriate opportunities.
But this is the norm.
After all, many private equity funds cannot guarantee a 10% annual increase.
After giving instructions to Guo Shaojie, Xu Liang looked at Qiu Heng sitting behind him.
"Qiu Heng, how much short of the US$15 billion raised by Kunpeng 2 is now?"
"All has been raised."
"Oh? It's faster than I thought."
"You have made too much money from this wave of oil speculation, and everyone will envy you with red eyes, knowing that we have raised 15 billion US dollars. Later, fearing that I would be left behind, I quickly raised all the funds." Qiu Heng said.
"What's going on at Fengshou Agriculture now?"
"I heard from Mr. Jiang that after you did not hesitate to reward him, the salesmen in Fengshou Agriculture's marketing department have all turned into birds, and most of them have turned into birds. Time is flying all over the country.
The progress is also very gratifying. Currently, 23 million tons of soybean planting contracts have been signed. According to the current momentum, almost 35 to 40 million tons can be ordered before the soybean planting season ends at the end of June. .”
Xu Liang nodded, "How many international acquisitions are there now?"
"5.3 million tons have arrived at the port, and 12.9 million tons have been signed. As for the specific amount that can be purchased, it is still unclear. Unable to determine."
"What about futures?"
"$2 billion, 5 times leverage, is being put on the market."
Xu Liang nodded.
"Qinglong No. 1's money is mainly made from soybeans, don't involve anything else."
Qiu Heng nodded.
"Old Sun, what is the price of Brent crude oil now?"
"After the war in Afghanistan, the price of oil has dropped from a high of US$38.5/barrel to the current US$31.2/barrel. We don’t know yet whether it will go down further.”
After Xu Liang nodded, “Qiu Heng, Kunpeng No. 2 Fund has US$15 billion, investing in five categories: crude oil, iron ore, copper mine, gold, and silver. Long futures
The distribution ratio is 3:2:2:1.5:1.5.
All funds are invested in sequence within three months on average, with a leverage ratio of five times. "
Five times is a relatively conservative ratio, but Xu Liang has many opponents now, so he is willing to be more conservative. When the prices of these futures rise, it will not be too late to increase the leverage.
Moreover, his investment goal is to focus on five mainstream futures, which is also an insurance policy.
No force in the world can drive down the prices of all five futures.
Neither can the old American government.
After discussing the future development of each fund, Xu Liang had a dinner with the company employees.
The day passed like this.
The next day, Xu Liang received the visiting Li Zhaoji at home.
"Fourth uncle, why are you here?"
"You, Xu Sheng, are busy with your work and can't easily make an appointment. I have no choice but to come to see you in person." Li Zhaoji said with a smile.
"You have disgraced me. After meeting with people from the company these past two days, I was preparing to go see you, but I didn't expect you to come on your own initiative. ... Please come in."
< br>Welcoming Li Zhaoji to the reception room on the fifth floor of No. 33 Barker Road.
After both parties sat down, Lu Hui served tea.
Li Zhaoji waved his hand, and Li Jiacheng, who came with him, put the gift box in front of Xu Liang and opened it.
Xu Liang took a look.
It is a picture frame the size of A4 paper. In the picture frame is a small oil painting, and the content is a picture of Eight Horses.
Seeing the confusion in Xu Liang's eyes, Li Zhaoji smiled and said: "There is a saying: Swords are given to martyrs, and pink powder is given to beauties. This oil painting of Xu Beihong's "Eight Horses" was collected by me in the early years and is given to me today. You, I hope you can learn from Mr. Beihong's talent and improve in painting.
By the way, this small-scale "Eight Horses" is just a print, and the real original is still on the car. I’ll have someone bring it up in a moment.”
(End of this chapter)