My Age of Investment

The next day, Xia Jingxing carried a pile of materials and went to the New Poly Building in Dongcheng to visit Lou Wei.

Lou Wei seemed very happy for Xia Jingxing's arrival.

After greeting Xia Jingxing to sit down with a smile on his face, he did not rush to look at the fund performance return materials placed on his desk. Instead, like a kind-hearted elder, he began to greet the younger generation, showing concern at every turn.

"Xiao Xia, the international financial market is turbulent and strange. You haven't encountered any difficulties in the past six months, right?"

"If you have any difficulties, please raise them directly. No need to worry. Whether it is at home or abroad, we will try our best to help you coordinate and solve the problems."

…

Xia Jingxing sat on the sofa with a smile on his face.

He knew that Lou Wei's words were not polite, but came from the heart.

After stepping on the two big thunders of Blackstone and Morgan Stanley, Vision Capital came back for CIC. .

Not only can the floating losses of two large investments be erased, but there can even be a surplus.

As Envision Capital has been conquering the international financial market and gaining fame, Lou Wei is worthy of the evaluation of "picking only the best".

Therefore, he must take good care of Xia Jingxing, a unique talent.

What's more, Xia Jingxing was very well-organized and knew how to share the worries for him and the country.

Foreign banks have decided to liquidate and sell the stocks of Chinese banks. The young people in front of them did not hesitate to stand up and express their willingness to work with CIC to protect the bottom line and support the market.

Who wouldn't like a young man who is so talented, ambitious, and respects himself so much that he comes to visit him before he even gets off his backside after returning to China?

After a while of gossip, Lou Wei talked about the glorious history of Lehman Brothers in mainland China.

“Lehman entered the mainland in 1993 and set up an office in Beijing. In the same year, it underwrote bonds for China Construction Bank, pioneering the overseas issuance of private placement bonds by Chinese companies.

Since then, the Financial Yamen's first overseas US dollar bond, the listing of Huaneng Electric Power, and the China Development Bank's first Yankee bond... were all handled by Lehman.

In the past 15 years, Lehman Brothers has achieved considerable results in investment banking, VC, PE, stock investment and asset management by virtue of its skilled financial skills.

I heard that you have acquired Lehman Asia. Do you have any ideas to build a large international investment banking group to fill the gap left by Lehman? "

Xia Jingxing finally understood. He wanted to vigorously develop investment banking business and become a guide for government-owned enterprises and even Chinese-funded enterprises in financing and acquisitions in the international financial market in the future!

Although the idea is good, it is very difficult to implement it in practice.

He smiled bitterly and said: "Mr. Lou, this matter... we need to consider it in the long term."

Lou Wei asked calmly: "Are you worried about the influence and worried about being too Chinese-funded?"

"no!"

Xia Jingxing shook his head and then explained: "Why did we only choose to acquire Lehman Asia and not add Lehman America and its European subsidiaries to the acquisition list?

Because at this stage, we simply can’t digest it.

Take the U.S. market as an example. Goldman Sachs and Morgan Stanley are both established investment banks that have been based in the country for a century. They have deep-rooted relationships with the top management. Even the finance ministers were trained by them.

Moreover, we have close cooperation with these two investment banks and it is not easy to break into other people's territory rashly. "

This is the real reason why Xia Jingxing did not acquire Lehman Brothers as a whole.

It's not that I can't get the money, it's that I can't play with it after acquiring it.

It's better not to humiliate yourself.

Now they are cooperating well with Goldman Sachs and Morgan Stanley, and there is no need to cause trouble because of a "not very profitable" investment banking business.

Lou Wei understood, nodded slightly, and then asked: "Then you acquired Lehman Asia and suddenly became peers with Goldman Sachs and Morgan Stanley. Will it affect your cooperative relationship?"

"Won't!"

Xia Jingxing said with a smile: "Goldman Sachs helped us broker the acquisition of Lehman Asia. As long as we don't develop in their most important U.S. market and threaten their market position, everyone can still coexist peacefully.

Because in their view, as long as they can make money, even Satan can cooperate. "

Lou Wei had a thoughtful look on his face, as if he was thinking about the deeper intention of Vision Capital’s acquisition of Lehman Asia.

Before he could ask, Xia Jingxing took the initiative to tell the story.

"Lehman is like a giant. Even if he falls, no one can drag his body away.

There are powerful financial institutions in the United States and Europe, which will naturally fill the gap left by Lehman.

Only in the Asian market, I think Envision Capital has the ability to give it a try.

Relying on the mainland market and through the window of Hong Kong Island, we can gradually cover the entire Asian market with our influence.

Once we fully grasp the legacy of Lehman Asia, we may be able to use this as a springboard to try to enter other markets.

An influential Chinese-funded international financial institution can respond to the country’s call and help more Chinese-funded enterprises go global. "

Lou Wei laughed loudly. He didn't need to mention too much. With just a little nudge, Xia Jingxing could draw inferences immediately.

Yes, the great success of Vision Capital's hedge fund in the international financial market allowed Lou Wei and those above him to see a good opportunity.

Although hedge funds make money quickly, they only generate returns for GPs and LPs.

An excellent investment bank can broker and operate hundreds of large projects, and its impact is far beyond that of a hedge fund.

The annual profits of Goldman Sachs and Morgan Stanley are only a few billion dollars, but their status and importance are higher than many more profitable companies.

Lou Wei said calmly: "According to relevant data, Lehman Brothers has secured the top spot in terms of project transaction volume among foreign investment banks in mainland China in the past two years, and has served as the lead underwriter or financial consultant for many large-scale projects of Chinese companies.

These include the lead financial adviser to Chinalco and Alcoa in their acquisition of a stake in Rio Tinto UK this year;

The exclusive financial advisor for Huaneng to acquire 100% equity of Tuas Energy Company in Singapore for S$4.2 billion;

Exclusive global coordinator of Sinopec’s US$1.5 billion convertible bond project;

The joint bookrunner of Huaxin Bank’s H-share listing last year.

Our own investment banks, such as CICC and CEFC, have been operating in their own pools, lacking overseas influence and unfamiliar with overseas markets.

In addition, the official color is too strong, and foreign investment banks have always been responsible for our large overseas projects.

We paid a lot of tuition during this period, so we have always hoped to create a Chinese private investment bank.

In this case, many projects can be safely handed over to this private investment bank, and they will not be overly interpreted and rejected by others. "

Xia Jingxing nodded, he understood the difficulties faced by Lou Wei and the officials.

If you are acquiring a mine in Australia or South America, and the government sends CICC to negotiate, they may think that you are unprofessional, not well-known, and that it is a government-owned company, and they are not willing to negotiate with you.

Then we can only entrust the task to foreign investment banks such as Goldman Sachs and Morgan Stanley.

But these institutions are not good birds. They often dig holes and have to eat the food that comes with it.

The Song family of China Credit Pacific was manipulated by others on the Australian dollar contract, which is a vivid example.

The emergence of a privately-owned, internationally influential and professional investment bank can help Chinese-funded enterprises to avoid many pitfalls when going global.

But the premise is that this investment bank must be trustworthy.

In Lou Wei's view, Xia Jingxing is a good comrade who can stand the test of his thoughts. He can rest assured when entrusting this task to Envision Capital, and so can his leadership.

"The leaders above attach great importance to you and say that you are talented in both finance and technology and are a rare talent! We should pay more attention to and help you!"

Looking at Lou Wei's encouraging eyes, Xia Jingxing knew for sure that Lou Wei's leader must be a certain elder.

"The leader has oversold us! Since he has entrusted us with such an important task, we will do our best to complete it."

Lou Wei waved his hand, "Don't worry! This still needs to be combined with your own actual development situation and the external situation, and accumulate bit by bit. Haste makes waste.

Now your hedge fund is doing very well and has made a great contribution to the preservation and appreciation of the country’s foreign exchange value.

On the basis of doing a good job in hedge funds, you can then do a good job in your investment banking business.

Take your time, start with the mainland and Asia. "

Xia Jingxing nodded hurriedly, his thoughts suddenly drifting far away.

He acquired Lehman Asia like rags, originally thinking that it would open up a link in the financial industry chain, just to connect the future IPO listings of invested projects of VC and PE funds, secondary market refinancing, etc.

As a result, now that Lou Wei has assigned them such an important task, his expectations for Vision Capital are really high!

It means that the future Belt and Road Initiative and the Maritime Silk Road have opened the door to them, but the prerequisite is that the development of Vision Capital must keep up.

Mines in South America and Africa, ports in the Indian Ocean, woolly bears, oil fields in the Middle East...

The world is so big, you can go see it all together.

How big the financial business can be depends entirely on how strong the country is behind it.

Awesome, my country!

When 1.4 billion people can shout this sentence, it means that the great rejuvenation of the nation has reached a new level, and Chinese-funded enterprises will also collectively enter the world stage.