Chapter 222： Fund inventory

For the group transformation of Meta Investment Company, it is going smoothly, but there is one thing, that is, there are still many positions in the group company and its subordinate companies, and there are still shortages of people. It seems that it is more important to find a competent chief human resources officer. .

Now there is one more thing, Chen William is considering, that is the shares of Hermes Group he currently holds.

Hermes is a luxury brand. If other investments are more or less related to William Chen’s main business, then there are two investments that are more similar to financial investments. One is the investment in Troup Group, which was originally William Chen. There is Building 666 in hand, which is a bit related, but the most important thing is to have a deeper connection with Ivanta in terms of interests.

As for Hermes Group, it also has some relationship with Paris' HC company. After all, it is a fashion industry, with products such as perfume, clothing, and ladies' bags. Therefore, William Chen initially planned to inject his shareholding in Hermes Group into HC company. .

But there is a problem. When William Chen invested 25 million US dollars, he valued HC company at 500 million US dollars and only needed 5% of the shares. In fact, to put it bluntly, it doesn't matter if the money is fully lent to Paris, and for products mainly made under Paris' own brand, the valuation is not really that accurate, so he gave him a very high valuation.

Paris also knew what William Chen meant, so after absorbing her sister's brand later, she did not dilute William Chen's shares, and still held 5% of the shares. She gave part of her shares to her sister.

Anyway, in the final analysis, it will not be a loss. The Paris brand in the past life and later can achieve a scale of 3 billion US dollars. Now with the help of William Chen, it must be only high.

But even so, the current share price of Hermès Group has continued to be at a high level of more than 85 euros, because there are few stocks in circulation now, and most of them have been absorbed by Chen William, and the Hermes family has also absorbed some of them just in case. So the price doesn't come down at all.

Then according to this stock price, the total market value of Hermes International Group has reached 12.8 billion US dollars, and the stock value in Chen William's hands is more than 6.1 billion US dollars, so even according to HC's valuation of 500 million US dollars, then Chen William will be Hermes Group's shares After the injection, his shareholding will reach 92.8%, and the Hilton sisters will only have 7.2% of the shares, so HC company is equivalent to becoming Chen William's company...

But it is true that if the shares of Hermès Group are injected into HC Company, then HC Company will become the holding company of Hermès Group, whether it is for the development of the Hilton sister brand of HC Company or to enhance the company's competitiveness, it is very beneficial. .

Therefore, in response to this situation, William Chen asked Paris for his opinion.

"Would you like to do this? My dear, I have no opinion at all. That's Hermès! Thinking that I will become the boss of Hermès, it's really exciting, even if the shares are small, it's okay, I can do it later. Cooperate with Hermès."

I didn't expect to hear this idea, but Paris was even more excited. It seems that it is difficult for women to resist a luxury brand like Hermès.

"Are you really sure? Baby."

"Of course, it's you or me that controls this company. What's the difference? Are you interested in running these things anyway?"

Uh, Paris is quite clear at this time. Indeed, William Chen is not very interested in this fashion industry, but this is what Paris is good at.

So he thought about it and said, "Let's do it this way, but you should discuss it with your sister, and I'm going to communicate with the Hermes family first, so that I can show respect for each other. Not long after the acquisition of this company, these things still need to be paid attention to.”

...

The acquisition negotiation of The New York Times has now reached an agreement with the Salzberg family on most of the conditions, but it will take some time to complete the final acquisition. Now Nielsen has led the team to the assets of the New York Times Group. Conduct a detailed audit investigation.

However, at this time, John Paulson had already completed the liquidation of the short position on the stock of Fund No. 2. In the operation of the No. 2 contract, he initially invested 500 million US dollars, and later invested more than 12 billion US dollars in the No. 1 contract. Profits are added to the joint operation. After closing the position, the final asset is as high as 31.5 billion US dollars.

In this way, the total principal of the entire No. 1 Fund and No. 2 Fund is 1.5 billion US dollars, and the profit is 40 billion US dollars. John Paulson has 5% of the profit. He personally received 2 billion US dollars in income, 2 Fund No. has remaining assets of $29.5 billion.

In addition, the No. 3 Fund led by John Paulson has also closed some short positions. The current asset size of this fund is as high as 24 billion US dollars.

Among the three funds of Meta Investment Company, Fund No. 1 has been renamed Caitlin Trust Fund, which was donated by Chen William to Caitlin Foundation. .

After the No. 2 fund has completely closed the short position, it will be renamed the Meta fund and become the self-operated investment fund of the Meta Group. Now its assets are US$29.5 billion, all in cash.

Fund No. 3 is managed by John Paulson. The current asset size is 24 billion US dollars. After discussing with John Paulson, William Chen decided to withdraw and share the income of Fund No. 3 and open the fund to the fund. Purchase and redemption windows.

After the completion of this process, Fund No. 3 will be renamed as John Paulson Fund. In addition to charging management fees, after completing the recalculation of the fund's net value, John Paulson's share ratio will be increased from 20% to 50%. %.

The investment of No. 3 Fund is divided into two batches, the first batch is the initial investment of 505 million US dollars, and the second batch is the later expansion of 5 billion US dollars.

Investors who initially purchased Fund No. 3 had a net value of USD 1 per fund unit at the time of purchase. When the second batch of USD 5 billion was invested, the assets of Fund No. 3 had risen to USD 2.626 billion, so the fund at this time was Units have a net worth of $5.2.

That is to say, if you invest 1 million US dollars in the first batch, you can buy 1 million funds, and in the second batch, if you invest 1 million US dollars, you can only buy less than 200,000 funds.

This is also very reasonable. Early investors will definitely be able to buy the fund at a lower price, but after the fund has risen in the later stage, it will cost more to buy it. That is, the initial investment, at this time, has obtained a 420% return.

At present, the total size of the No. 3 Fund exceeds 24 billion US dollars, and the unit net value of the fund is 16.38, which means that the investment of the first batch of investors has increased to 1638% of the original, and the investment of the second batch of investors has also increased based on this. 315% of gold, it can be said that the income is extremely amazing.

Then, if the profit share is calculated, the initial investment of 505 million US dollars, the profit of 1538%, can receive 20% of the profit within 50%, then it is 50 million US dollars; 25% of the profit 50%-100%, it is 63 million US dollars; profit; 30% of the portion that exceeds 100% is $2.178 billion.

The total profit share becomes $2.29 billion, of which John Paulson gets 20%, or $458 million; Meta Fund Company gets $1.832 billion.

The second batch of funds of 5 billion US dollars, which can receive 20% of the profit within 50%, is US$500 million; 25% of the profit of 50%-100% is US$625 million; the profit exceeds 100%. 30%, or $1.725 billion.

The total profit share of this batch of investments is US$2.85 billion, of which John Paulson gets 20%, or US$570 million; Meta Fund Company gets US$2.28 billion.

Therefore, in the No. 3 Fund, after the company's profit share is withdrawn, the total capital scale becomes 18.86 billion US dollars, of which the first batch of investors can receive 5.96 billion US dollars, and the asset growth rate is 1180%; The second batch of investors can Divided to 12.9 billion US dollars, the growth rate of assets was 258%.

John Paulson received a total of $1.028 billion in the No. 3 fund, plus the $2 billion he received earlier, his profit so far in the subprime mortgage crisis is as high as $3.028 billion, entering the super-rich in one fell swoop. ranks.

Meta Investment Company received a total of $4.112 billion in Fund 3, which is also an extraordinary profit.

For example, initially Paris and Ivanta each invested $5 million into Fund 3. At this time, they can get $59 million by redemption, and the $150 million invested by the Drey family has become 17.7 Billion dollars, John Del Rey, who knew the result, was beyond words of joy.

And Rick Walton's $100 million investment has also turned into $1.18 billion. He didn't expect that this investment, which was more about establishing a relationship with Chen William, turned out to be his most successful so far. an investment.

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