My Age of Investment

After attending the CIC's preparatory meeting, Xia Jingxing asked Envision Capital to submit an application material for an external fund manager to CIC, and then ignored the matter.

For several days, there was no news.

Just when Xia Jingxing had lost all hope, he suddenly received a call from Secretary Lou Wei, inviting him to visit CIC.

Then, Xia Jingxing came to the New Poly Building located at No. 1 Chaoyangmen North Street in a daze.

CIC's administrative rank is set very high, tied with China National Railway and CITIC, and it is the only three high-ranking state-owned enterprises, but currently there are only dozens of employees working in the building.

Xia Jingxing was not surprised by this at all. Even if the preparations for this company were completed, the number of employees would be at most three to five hundred people, because in large financial institutions, it is normal for each person to manage three to five billion US dollars. up.

Led by Secretary Lou Wei, Xia Jingxing walked into Lou Wei's office. The interior layout was relatively simple, only the red flags on the table and behind the desk showed that this office was not simple.

"President Xia, you are here, please sit down!" Lou Wei was buried in writing some materials, when he saw Xia Jingxing coming, he immediately got up to greet him.

"Leader, you are too polite!"

Xia Jingxing said a few polite words, and then sat down on the sofa in the office under Lou Wei's greeting.

Then, Secretary Lou Wei brought two more cups of tea, and then gently closed the door.

Xia Jingxing didn't bother to care whether Lou Wei was a member of the first rank or the second rank, so he picked up the tea on the table and drank it, then praised: "Good tea!"

Lou Wei chuckled, can't it be good tea? He entertained him with his special tea every year.

But considering the importance of what he was going to talk about next, he didn't feel sorry for his little tea.

"Mr. Xia, I invite you to come here today. In fact, I still want to have an in-depth chat with you about the external fund manager."

Xia Jingxing put down his teacup and put on an expression of listening carefully.

Lou Wei smiled, "We read the materials submitted by Vision Capital. It seems that among the funds under your umbrella, the American hedge fund has the best performance?"

Xia Jingxing replied 1510: "The financial industry in the United States is more developed, and there are more financial instruments that can be used.

"

"Your first fund, the one called Lixia No. 1, I think it has already begun to be liquidated, and the return rate of 50 times in three years looks really amazing! Can I ask, how is this done? "

Xia Jingxing had no choice but to introduce it again, and modestly pushed the reason for the high rate of return to the small size of the fund.

He reckoned that Lou Wei might also have seen this beautiful report card, so he invited him to the company as a guest.

This is not his bragging. The Lixia Fund has already become a legendary fund, and its reputation has gradually spread in the United States. Many wealthy groups or institutions want to join the vision capital.

After listening to Xia Jingxing's introduction, Lou Wei smiled and praised: "It's amazing! Europeans and Americans always have a prejudice that we Chinese can't do finance well, and Vision Capital can be regarded as a rectification of the Chinese people's name."

Xia Jingxing had a smile on his face, but he was thinking quickly in his heart, the other party should be a hedge fund that wanted to invest in Vision Capital, should he accept it?

The reason why he contacted CIC is actually to raise funds to establish a real estate fund and a private equity credit fund. It is better to use the country's money to earn dividends in this era than to enter the pockets of Pan and Li Zhiliu.

If he didn't help Xu Tingyin at that time, it is estimated that Brother Hermes would eventually go to accompany the Hong Kong real estate tycoon of the Big D Club to hoe the Big D. Hengtai obtained the funds needed for development in this way, but it enriched a group of vampires who had forgotten their ancestors.

"Mr. Xia, I found an interesting phenomenon. Why did you name the fund after the twenty-four solar terms?"

Xia Jingxing replied: "This is an original Chinese culture, and it also has the meaning of cycle, so it is used, and it also means to spread Chinese culture. Foreign financial media sometimes introduce the meaning of each solar term to readers. "

"Haha, that's right! No matter where the Chinese people go, they must not forget their roots! In my opinion, this kind of patriotism is vividly reflected in Mr. Xia.

At the cabinet meeting, Mr. Wen specifically explained that in the process of construction and operation of CIC, we must rely heavily on Chinese-funded financial institutions operating abroad. He also specifically named Vision Capital, and he instructed CIC to work more with you. Collaborate and learn from you. "

Xia Jingxing's expression turned serious, is this a shock? He quickly expressed his attitude: "Leader, I don't dare to learn, but if the superior has any instructions, you can speak up."

Lou Wei smiled and waved his hands, "Mr. Xia, you don't have to be so restrained, there are only two of us in the room now, we just chat like two friends, or two business partners, just talk freely, don't stick to formalities.

There were too many people that day, and I didn't have time to talk to you about many things. "

Xia Jingxing nodded in agreement, without saying much.

"CIC has formulated its business scope since the moment it was planned to be established." Lou Wei looked at Xia Jingxing, then pointed his fingers and introduced: "Investment in foreign currency financial products such as domestic foreign currency bonds; overseas bonds, stocks, funds , Derivative financial instruments and other financial product investment; domestic and foreign equity investment; external entrusted investment; entrusted financial institutions to make loans; entrusted management of foreign exchange assets;

You should have heard that most of the asset allocation must be in foreign currency, which is related to foreign exchange reserves, so I won’t go into details.

Of course, domestic equity investment will not be ignored, but this will not be the focus. The domestic venture capital market is worth billions of dollars a year, and the pool is too small. If we spend too much of the 200 billion dollars, we will not be able to cover it at all. . "

Xia Jingxing nodded, "I know that, CIC pays out one percent, or even a few tenths, of the assets under management every year, which is actually enough for domestic equity investment."

Lou Wei smiled, "Yes, I'm looking for you today, and I actually want to talk to you about two things.

The first one is that CIC intends to invest 2 billion U.S. dollars to serve as the LP of Vision Capital's US hedge fund. "

Xia Jingxing smiled, as expected he was still interested in the rate of return of their hedge fund.

With reference to CIC’s US$200 billion scale, the investment of US$2 billion is not too much, but it is not too much. After all, it is the first cooperation between the two parties, and there is still a lack of trust.

"Second, CIC intends to invest 2 billion US dollars in domestic equity investment and purchase 20% of the shares held by Vision Capital."

Xia Jingxing was stunned, why did he suddenly want to invest in Ahri?

Lou Wei smiled and said: "Of course, the second thing, we will not force it, the price can be negotiated again, and we will respect your choice, Mr. Xia.

The main reason is that after searching around the domestic Internet and technology industries, I found that an Ali is more in line with our investment standards.

We also attach great importance to domestic equity investment. Now Ahri is controlled by foreign investors. Yahoo, Softbank, and Vision Capital also have foreign investors. After CIC enters, domestic investors can occupy the controlling position. "

Xia Jingxing looked normal and said, "Ari is in some trouble. Vision Capital holds 23% of Ari's equity, of which as much as 20% is invested in an S fund, which has some foreign investors.

At present, this S fund has just been raised, so it is unreasonable to withdraw now.

However, the other 3% stake, I can call the shots and sell it to CIC! "

Seeing Lou Wei's pensive expression, Xia Jingxing added, "Or this way, CIC will subscribe for a part of the S Fund shares. In addition to Ahri's 20% equity, the investment portfolio also includes Facebook, YouTube, and Hainei.com's 20% equity each."

Hearing this, Lou Wei hurriedly asked, "This won't embarrass you, will it?"

Xia Jingxing shook his head, "How could it be? Sovereign wealth funds are just making normal financial investments, as long as they comply with relevant laws."

Seeing that Lou Wei was thinking, Xia Jingxing was also thinking. If it is not bad, CIC will invest in Morgan Stanley, which is equivalent to indirectly investing in Facebook.

Now he has brought CIC into the S fund, which is equivalent to indirect investment in Facebook, which is less sensitive. At the same time, he can also bring in state power to protect his assets. Hainei.com has CIC as an indirect investor, and develops domestically. There are also people on it.