Recast youth

Chapter 1471 Blackstone’s Abandonment

Schwarzman was not one to back down. If he had to back down, Blackstone would have done so long ago. When he saw that Yang Qingzhi was unwilling to give up his plan to acquire the Hilton Hotel, he couldn't help but said: "In that case, let's each rely on our own abilities."

In any case, for Schwarzman and Blackstone, the listing plan is imperative.

With that said, Schwarzman stood up and wanted to leave. He looked at the time and said, "Thank you for the invitation. I'm sorry, I have a business to discuss later, so I won't eat."

Yang Qingzhi looked at Schwarzman who was getting up, his eyes calm, and he tapped his fingers on the table and said: "If Blackstone insists on competing with me, I will set up a new fund to raise funds specifically for sniping Blackstone."

Schwarzman's expression suddenly changed.

If ordinary people said this, Schwarzman could laugh it off, but the person who said this was Yang Qingzhi, and Schwarzman had to take it seriously, because Yang Qingzhi originally managed two major global hedge funds and five major global hedge funds on Wall Street. After becoming an asset manager, he was able to regain a foothold and expand the market in Europe because of his strength.

He has a huge amount of client funds behind him.

If he really sets up a private equity fund and raises funds to go against Blackstone, then Blackstone will definitely be greatly affected.

Schwarzman stopped, looked at Yang Qingzhi, and said with an ugly face: "We will only make Hilton's senior shareholders happy, and I will lose both sides."

"no way."

Yang Qingzhi said unmoved: "I prepared the acquisition plan for half a year to acquire the Hilton Hotel. It was also my first investment after my comeback. Blackstone came in to bid for us. I was also very embarrassed and it was difficult to explain."

Schwarzman couldn't help but said: "Explain? Who do you need to explain to?"

"Speak to my boss."

Yang Qingzhi said with a smile.

Schwarzman didn't believe it at all. Could someone like Yang Qingzhi have a boss?And he has also seen the shareholder framework and partnership model of Maple Leaf Fund. Yang Qingzhi is one of the partners of Maple Leaf Fund.

When Yang Qingzhi saw that Schwarzman didn't believe it, he smiled and said: "What I told you is true. I do have a Boss. Blackstone's results may be amazing, but what I want to say is that compared with my Boss, It’s nothing at all, even the lady next to me is nothing compared to it.”

Yang Qingzhi looked at Wen Yueqi beside him.

Wen Yueqi was startled, not expecting that Yang Qingzhi would talk about her.

Then I heard Yang Qingzhi say to Ye Feng Schwarzman: "Last year, Blackstone's net income for the whole year was US$22 billion. Do you know the net income of the fund managed by Ms. Wen in one year? I can tell you, 42 billion U.S. dollars, and the per capita income is even higher, 42 billion U.S. dollars per capita.”

Wen Yueqi rolled her eyes internally. When she heard this per capita, she knew that Yang Qingzhi was a little intentional, because the New York Economic News reported that Blackstone was in 2006.The income generated per employee is eight times that of Goldman Sachs employees.

As for total net income, that's completely and deliberately ignored.

Yang Qingzhi's old employer was Goldman Sachs, so he took this opportunity to deliberately talk to Schwarzman about per capita income creation.

Logically speaking, Wen Yueqi should be particularly excited. For Obsidian Fund's credit default swap, she looked for bad subprime credit products and then signed a contract with a hedge fund institution.

But Wen Yueqi felt a little embarrassed at the moment, because this was not relying on her real ability, but relying on Ye Feng's guidance.

However, Wen Yueqi was not too embarrassed, because she had implemented the specific gambling implementation plan.

When Schwarzman heard what Yang Qingzhi said, his eyes suddenly focused on Wen Yueqi, and then asked with some wonder in his eyes: "Is the Obsidian Fund yours?" "Mr. Steve, have you heard of it?"

Wen Yueqi was a little stunned. After all the funds were recovered from the Obsidian Fund, the fund was canceled. She didn't expect that a great figure like Schwarzman could still know about it.

Schwarzman couldn't help but smile bitterly. How could he not notice a company that had been established for one year and made a profit of US$42 billion in one year, and even wrote off the funds a year later?
It can be said that the Obsidian fund is like thunder.

Although the news has not yet been published and is only spread among a small number of senior management circles of fund companies, this will definitely be news that will detonate Wall Street in the near future.

Schwarzman said to Wen Yueqi in a complicated tone: "I heard about the magic of Obsidian Fund a month ago. I didn't expect to meet the manager of this fund today. It's an honor to meet you."

"It's an honor for me, too."

Wen Yueqi said modestly.

Schwarzman then turned to Yang Qingzhi and said: "Blackstone will withdraw from the pursuit of Hilton Hotels."

"Thank you Mr. Steve for the convenience."

Yang Qingzhi lost all his sharpness, stood up and shook hands with Schwarzman gently. There was no trace of the sharpness he had shown just now. It was almost unimaginable to say that someone could use words to force the new king of PE on Wall Street, Blackstone Group. of retreat.

……

……

A manor house.

Bolenbach was very happy. Originally, Maple Leaf Fund's third-round bid for Hilton was US$220 billion, which was very close to his psychological expectations. But what he didn't expect was that Blackstone Group would actually come in to bid together at this time.

And the asking price reached US$230 billion.

Bollenbach did not rush to reply to Blackstone Group. Instead, he investigated why Blackstone Group suddenly made such a big move in just a few months. After investigating, he discovered that Blackstone had to complete its listing plan within half a year. .

In other words, Blackstone wants to expand its size by acquiring Hilton Hotels, so that it can go public smoothly and raise financing. In other words, Blackstone is bound to acquire Hilton Hotels.

So Bollenbach once again reported his price, this time it was no longer US$240 billion, but US$267 billion, and then gave the head of Blackstone Group and Maple Leaf Fund head Yang Qingzhi time to consider.

But just when he was in a happy mood and tasting red wine with several Hilton Hotel board members, a call came in. It was the person in charge of negotiating the acquisition of Hilton Hotels from the Blackstone Group.

Blackstone Group abandons planned acquisition of Hilton Hotels.

hang up the phone.

Stephen Bollenbach, CEO of the Hilton Group, suddenly lost his expression. He couldn't believe it. Blackstone, which was planning to acquire Hilton hotels to complete its listing, actually gave up on the acquisition of Hilton?

Several other fair-skinned, blue-eyed board directors saw that Bollenbach looked unhappy, so they asked what was going on, and then Bollenbach told him that Blackstone Group had given up on acquiring Hilton.

In other words, they have to face Maple Leaf Fund again and reconsider the third round offer from Maple Leaf Fund.

(End of this chapter)