After divorce, I can hear the voice of the future

Chapter 365 The Fourth Fund Issuance

"how are things?"

At night, Lu Liang had a video call with Su Wanyu and learned that the due date would be in two weeks, but it was unknown whether it would be advanced or delayed.

He smiled and said, "I will try to get there before the 20th, so that when the baby is born, her mother will not still be missing her father."

Lu Liang is a bit busy this month. It’s already the 9th as soon as it’s past midnight, and he has to go back to Shanghai tomorrow to prepare for a new round of private equity funds.

On the 15th, I will go to the island to attend the first new energy vehicle conference for three days. As a board member, I cannot leave early.

I should be able to squeeze in some time to go to Edinburgh before the 20th, but I probably won’t be able to stay there for too long.

The Federal Reserve will announce an interest rate hike on the 28th, so they need to prepare a few days in advance and make good plans.

"Hmph~ Stop being shameless, who would care about you." Su Wanyu looked proud.

"In a good mood?"

Lu Liang could see that Su Wanyu was in a good mood.

"Because my sister is so awesome~"

Su Wanyu chattered about how her life had undergone tremendous changes since Lu Ya came.

She is a bit socially anxious and doesn't like to communicate with others. Although Zheng Xiaoxuan is better, she is not much better.

Before Lu Ya came, the two of them were like two autistic children, and they didn't even know who lived across the street.

As soon as Lu Ya arrived, even though she didn't speak the language, she was able to get familiar with the neighbors and owners of nearby shops in a very short time and arranged everything in an orderly manner.

Moreover, Lu Ya is a mother of two children. She is very experienced and knows many things that she doesn’t know.

Although she is in Edinburgh, Chinese and Western people are of different races and have very different ways of dealing with pregnancy.

Su Wanyu just came here to study abroad and she didn't grow up here. The domestic system is more suitable for her physique.

"My brother-in-law is a little dull. The grain and oil shop at home is managed by Lu Ya, who has excellent communication skills."

The two chatted for a long time, with Su Wanyu talking most of the time and Lu Liang listening, until late at night.

"It should be two o'clock in China, you should go to bed early and don't stay up late~"

"OK Bye Bye."

The next day at noon, Lu Liang returned to the Magic City from the capital.

As soon as the plane landed, Sun Yutao released the news to the public, informing them of the establishment of a new private equity fund project, the management scale and a new charging model.

“Only $15 billion?”

"Boss Lu, why are you getting worse and worse?"

"After managing public offerings for half a year, you were assimilated by the A-share market? Have you become less courageous?"

"Didn't I say that of the $30 billion, only $15 billion is domestic, and the remaining $15 billion will be used to introduce foreign investment."

Because public funds help attract attention, the news of the establishment of a new round of private equity funds only circulates in a small circle.

In addition to the current asset size, the introduction of foreign capital and the adoption of a tiered fee model have also caused some people to complain.

3+20N, based on the domestic scale of US$15 billion, assuming it is divided into 25 shares, each subscription requires US$6000 million.

'3' means that an additional $180 million must be paid, which is the management fee that must be paid regardless of profit or loss.

The general rate in the industry is 2+20, but Lu Liang increased it to 3+25 in the last private placement, and no one objected.

The key is '20N', which means that based on 30% profit, for every 30% increase in profit margin, the management fee will increase by 5% year-on-year.

If the rate of return reaches 60%, the management fee will be 25%, 90% will be 30%, 120% will be 35%, and the maximum is 40%.

"So as long as the profit reaches 150%, assuming each share earns 9000 million, Lu Liang will get 3600 million?"

“Isn’t this charging model a bit abnormal?”

"When you ask this question, you have already accepted it in your heart, you just want to bargain."

The new charging model is like throwing a small stone into a calm lake. There are ripples but no impact.

To reach the 40% cap requirement, there must be at least 150% profit. After deducting 9000 million from 3600 million, there is still 5400 million, which is 90% net profit.

With Lu Liang's current reputation, it would be easy for him to launch a private placement of US$100 billion or even US$200 billion.

However, he chose to issue US$30 billion, half of which was reserved for foreign capital, leaving only US$15 billion in domestic capital.

There is also a settlement period. Unlike the previous three years, this time it is only one year. It is obvious that he is going for speculation.

For a while, Sun Yutao's phone was almost blown up.

Within a year, turning $30 billion into $75 billion and achieving a 150% return rate involves high risks.

But the first phase settled a total profit of 471%, the second phase settled a total profit of 91%, and the current three phases have accumulated a profit of 94%. They unconditionally follow Lu Liang blindly, even if Lu Liang says that he is not good enough, they will think he is just being modest.

Near noon, Lu Liang arrived at the private equity company on the 22nd floor.

"Mr. Lu, please take a look."

Sun Yutao hurried forward, invited Lu Liang into the office, and provided Zhang with a list of more than 50 people.

The fourth fund was also divided into 50 subscriptions, 25 at home and 6000 at home, each worth US$ million.

Lu Liang is personally responsible for the overseas subscription shares, and he is responsible for the statistics of the domestic subscription shares.

Now, Lu Liang needs to pick out 54 or fewer people from the 25 on the list to distribute shares.

"Lei Jun, Da Qiangzi, Xiao Ma, Lao Ma, Zhang Yiming, Zhou Hongwei... they are all acquaintances."

Lu Liang had a worried look on his face and was very conflicted. There were too many people and too little meat in this round, and for a moment, he didn't know who to choose.

After much thought, I decided to use the process of elimination. People from the three major families, such as Zhu Hu, Guo Changguang, and Xiangjiang, who participated in the second and third phases, were all eliminated.

Then give priority to new friends who have never participated in private equity funds, such as Zhang Yiming, Zhou Hongwei, Wang Chuanfu, Lao Ma, etc.

Then select from the three phases, those who have invested once and have a good relationship with him, such as Ningde Lao Zeng, Hengtai Lao Xu, etc.

"That's it. Send out an invitation and ask them to come over on the 13th to sign the subscription contract. It's still the same old rules."

Lu Liang picked and chose from the list and finally selected 11 people, giving each person two copies, for a total of 22 copies.

He aims to share the profits equally, and he plans to keep the remaining three shares totaling US$1.8 million for himself.

Although Tianxing Investment still has US$4.8 million in liquid funds in its account, he does not intend to invest too much.

Because in the fourth round of private placement, there was no Xiao Wang, no Guozi Xiaoxin, and even less Meng Changkun.

I talked with my leader yesterday and let Lu Liang know the idea that the new company to be established by the new fund will be wholly owned by him.

Suppose that one year later, the US$30 billion becomes US$75 billion, of which US$18 billion in management fees are all income for Tianxing Investment.

No one else is reaping the benefits, and the profits are high enough, so it doesn't matter if Lu Liang's personal share is a little smaller.

He also needs to save some funds to develop Tianxing Technology and wait for the right opportunity to invest in Didi.

After waiting in Shanghai for two days, on the 12th, Lu Liang arrived at Puxin Airport to welcome his good friend who had come from afar.

Soon, a luxurious business bus carrying seven foreigners and their assistant secretary left the airport.

Wilson stared out the car window at the tall buildings on both sides of the road and the intricate viaducts.

After a long time, he sincerely exclaimed: "The Magic City has changed a lot in these years."

"Wilson, have you been here before?"

Lu Liang stood in the aisle of the first row with a smile on his face, facing them like a tour guide.

The seven people present were undoubtedly well-known figures on Wall Street. They were heads of investment departments or presidents of investment banks such as JP Morgan and Stanley, and investment funds such as Blackstone and Vanguard.

"I came here once seven years ago. At that time, Pudong was not as prosperous as it is now."

Wilson was filled with emotion, last year's South and this year's West couldn't stop them, and the East will be unstoppable in the future.

“You can come here anytime you want, and you’ll find a whole new country.”

Lu Liang was all smiles. This year was his 11th year in Shanghai, and he had measured every inch of land with his feet.

He has witnessed the changes in Shanghai over the past 11 years, as if everything started like clockwork in 08.

It is no exaggeration to say that things are changing with each passing day.

"You can come here often." Wilson nodded.

Since entering the city, the number of green-plate cars on the streets has increased visibly. There are many BYDs, but there are also quite a few Teslas.

Even if Lu Liang didn't invite him, as a strong supporter of Tesla, he would take time to come and take a look in recent years.

Half an hour later, the group arrived at the Hilton Hotel in Lujiazui and took a short break for an hour and a half.

Lu Liang asked Xu Jiawei to take them to the 22nd floor of the New International Building and inquire about the fund allocation.

He released a total of 25 shares worth a total of US$15 billion to the public and allowed them to choose from them.

Several people looked at each other. They had already made the allocation before coming. Wilson said: "JPMorgan Chase, Stanley, and BlackRock each have four shares, Blackstone, Vanguard, and Quantum each have three shares, and DeMetco has four shares."

"Now that the allocation has been made, it's up to you."

Lu Liang looked thoughtful. From the distribution method, it can be seen that JPMorgan, Stanley and BlackRock belong to the first echelon.

Blackstone, Vanguard, and Quantum belong to the second tier. The reason why Germany and the United States can be divided into four parts is probably that small and medium-sized institutions are banding together for warmth.

(End of this chapter)