The executives of these three major overseas capital institutions arrived in Ningzhou City at about 18:00 that afternoon. Several foreigners had just checked into the hotel to rest. Within two hours, news of their appearance in Ningzhou began to spread.
The general public and the mainstream media did not know about it and did not pay attention to it, but financial media related to the capital market quickly paid attention to the report, and many domestic investors also saw the news one after another.
Around eight o'clock in the evening, several major market software popped up a small window of real-time news:
[John Breen, Vice President of Goldman Sachs Group, appeared in Ningzhou, and several executives from Morgan Stanley and Carlyle Investment Group came with Goldman Sachs Group.]
The news spread over time, attracting more attention. Headquarter executives of several well-known capital institutions on Wall Street went directly to Ningzhou. The followers surprisingly unanimously thought of Tiansheng Capital.
John Brain and others went to Ningzhou, and it seemed that other than looking for Lu Ming, there seemed to be no one else they could send a vice president from the headquarters to meet in person.
After all, what is Tiansheng Capital’s current reputation? Its rapid development momentum is likely to make it the number one asset management institution and investment group in China and Asia.
But no one knows what exactly Blaine and others are here to do, and the miraculous sources have not received the relevant information, or they have not come forward to break the news.
This has also caused various speculations in the capital market. Are overseas capital institutions optimistic about domestic investment opportunities? Or are they optimistic about Tiansheng Capital’s investment capabilities? Various institutions can’t help but start to speculate.
As for Goldman Sachs Group, no one in the investment community does not know that this capital group was established in 1869 and is one of the largest investment banks in the world. It backhandedly shorted its own existence during the 2008 financial tsunami, which is notorious.
, although its reputation is not great, Goldman Sachs itself feels that it is not shabby.
Morgan Stanley was the first investment bank to enter the country. Its main investment areas are manufacturing, food industry, beverage industry, home building materials, real estate, etc.
The Carlyle Group is also an investment company that entered the country relatively early. It also has many investment funds in the country. Its main investment areas include the IT service software industry, telecommunications communication networks, electronic semiconductor chips, etc.
…
"Mr. Lu, the 35% performance commission is too high."
The person who said this was John Breen, the vice president sent by Goldman Sachs Group. At this moment, in this conference room of Tiansheng Capital, Lu Ming had been personally receiving people from three Wall Street institutions for some time.
The two parties had already been in contact before the meeting, and the interview quickly got down to business and entered into substantive discussions.
The three major overseas capital institutions did not agree to Lu Ming's proposal to take 35% of the profits from the entrusted funds as excess performance commission. The reason was that Tiansheng Capital's existing LP institutions all had a 20% ratio.
Excess performance bonus means how much is earned, and the profit must be divided. If 10 billion is earned and 5 billion is earned, Tiansheng Capital will have to take away 1.75 billion. The entrusted funds must also pay stable custody fees every year, including subscription fees and redemption fees.
Can not be less.
"I can bring generous returns to LPs, but of course I have to get more commissions." Lu Ming said calmly: "Tian Sheng Capital's first LP partner handed over approximately US$8 billion to me.
In less than two years, I created a return on investment of US$24 billion for him, and this profit figure continues to increase."
The implication is that there is no need to discuss the 35% performance commission.
The performance of Tiansheng Capital is indeed incredible. Although Lu Ming’s investment style is known for his radical investment style, the rate of return that matches it is also quite amazing. The problem is that it does not last long, and Tiansheng Capital has not been established since its establishment. In a few years, it will take time to verify whether it can bring high returns stably in the long term.
The biggest problem here is that time is irreversible. If it is verified that Lu Ming can indeed be as stable as Buffett and the rate of return is far higher than Buffett, the best time window will be missed, which is also a key risk window.
The Tiansheng Value Growth Hybrid Fund is a mess. Since March 16, 2015, the first Christian investors to get on board have achieved a return on investment of 60 to 70 times in the past two years.
Nowadays everyone knows that Tiansheng Enchantress is awesome, but it is no longer possible to achieve magical income dozens of times in two years.
The principle is the same. If it takes five or ten years to verify the stability of Lu Ming's investment returns, then if the verification is successful, you will regret having only watched it for a few years.
But then again, several overseas capital institutions present can still judge Lu Ming's investment level through the indicator of his investment success rate. If you don't know it, you will be shocked at first glance.
Analysts from Goldman Sachs found through the statistics they could find that Lu Ming has made so many investments and has never lost a single amount of money so far. The data was collected from when he was still working in Taoba.
To maintain an undefeated record despite frequent attacks is quite terrifying and can be called magic.
"OK, we admit that Mr. Lu, your investment level is indeed quite outstanding, and we also believe that you can bring generous investment returns to LP. There is no big problem in getting a higher commission rate, but the exit mechanism needs to be shortened. Fifteen A one-year lock-in period is too long for us, three years at most," said John Braine.
Executives sent by Carlyle Investment Group agreed with Brian and said: "Yes, the world is full of uncertainties, and there are too many uncertainties in fifteen years."
Three years? Are you kidding me?
Lu Ming shook his head and said: "Big funds must have a long cycle to ensure stability. Otherwise, if I invest in an industry and you suddenly ask for a large-scale withdrawal within two or three years, who will take over your withdrawal funds?"
Lu Ming did not give in on the two points of exit mechanism and locking period. He would rather not accept the other party's money than lower his standards.
Obviously, if these three major institutions decide to invest money, it will definitely be a relatively large number. It will not hurt if it is a small amount of several hundred million.
But having said that, Lu Ming doesn't accept small funds either. He either only accepts funds from dozens of large institutions worth tens of billions, or he only accepts funds from ordinary people, such as Tiansheng Value Growth Mix, which can be up to 800 yuan a day. The subscription amount just meets the investment needs of non-specific groups of public investors with a monthly income of about 3,000 to 5,000.
Therefore, people with middle income or close to financial freedom who have investment needs are not very interested in Lu Ming.
This group of investors even complained that Enchantress had no desire to subscribe for 800 yuan a day, and they were not qualified to become an LP.
But in fact, they still have one channel to obtain income from Lu Ming, which is to invest in Tiansheng Holdings. There is definitely no problem in buying shares of this company.
It can be seen that all social strata and groups can actually find their own investment channels in Lu Ming.
It's just up to them whether they can seize the opportunity or not.
At this time, Lu Ming looked at Blaine and others and said: "Everyone, no matter what, we will not lower Tiansheng's LP entry threshold at all. Our confidence also comes from the fact that we have enough confidence to bring LP more than expected.
Regarding investment returns, if you are worried that the time period is too long and you cannot bear the uncertainty risk, I have a way to resolve your concerns."
