Follow the rules and Wall Street convention.

Most private equity funds, except as stipulated in the contract.

During the closed period, profits and losses are not disclosed to investors.

But if you insist on disclosing it, there is no problem at all.

It depends on how the contract is signed and the relationship between the LP and the investment manager.

Smith Capital now discloses the status of the first phase of Smith’s private equity fund three to four months in advance, which is completely legal.

For the LPs present who participated in the first phase of Smith’s private placement.

They are even more eager to know in advance so that they know how much money they have made or how much they have lost.

Smith Capital disclosed a half-year profit of US$17.665 billion.

& We are even more impatient and eager to know the situation of the first phase of private placement.

"The first phase of Smith Capital's private equity fund has raised a total of US$3 billion. The minimum subscription amount starts at US$1 million."

"The closing period is 180 days, and the redemption period is also 180 days."

& the information disclosed above with David.

The first one didn’t surprise anyone.

A private placement amount of three billion US dollars is relatively large, but it is not uncommon on Wall Street.

The closing period and redemption period of & days are a bit too short.

You should know that for ordinary private equity funds, the closing period is usually more than three years.

The redemption period is often five to ten years, and some can be as long as fifteen or twenty years.

A redemption period of & days is simply unheard of on Wall Street.

Fortunately, for these inquiring guests, they already knew the news.

This time it was only officially recognized by Smith Capital.

What excited and shocked everyone was the news David revealed later.

I saw him smiling and saying: "The number that appears next is the balance of the current account of Smith's Private Equity Fund. Please look at the ppt."

His voice fell, and a number appeared on the ppt behind him.

&, which is US$8.679 billion.

It is known that the first phase of Smith's private placement raised US$3 billion.

The account balance is now $8.679 billion.

This means that in these two months.

In the first period, the Smith Fund account surged 289.3%.

This number caused the guests, who had been feeling a little numb just now, to start talking again.

This time, even the giants who had roughly estimated the original profit figures couldn't help it.

They have access to Smith Capital's less-secret funding flows.

Speculate the approximate profit of Smith Capital.

But in these capital flows, they have no inside information.

There is no way to grasp the specific sources and classifications of these fund flows.

In other words, they can know that the money belongs to Smith Capital.

But they did not know whether the money from Smith Capital was Abel's own funds or the money from the first-phase Smith Fund.

Or other investors’ money.

After seeing this exaggerated profit figure.

In the first phase of Smith Fund, several senior executives of Merrill Lynch invested the most.

Whether it's CEO David Komansky.

It was Stanley O'Neal who was no match for David Komanski, and both of them immediately beamed with joy.

Of course, the most excited person is Charlie Scharf, the chief financial officer.

You must know that among Merrill Lynch, the company is most insistent on handing over funds to Smith Capital for investment.

That's Charlie Scharf.

Today’s figure means that Merrill Lynch’s investment in Smith Capital has increased in value by at least 289.3%!

This time Merrill Lynch

The stock was very bold and invested US$500 million.

It is the largest investor among investment banks and the largest investor among LPs.

In other words, Merrill Lynch's $500 million now.

The value has increased to US$1.4465 billion.

That’s almost equal to just over a third of Merrill Lynch’s profits last year!

Even if half of the profit is deducted, Smith Capital will be given a commission.

That US$500 million can still make a net profit of more than US$450 million!

"Pa~"

Standing with Charlie Scharf, Stanley O'Neal couldn't help but give Charlie Scharf a pat.

"Hey! Man, did I read that correctly?! It's actually 8.679 billion! 289.3%!" the black CEO whispered excitedly.

Charlie Scharf was actually more excited. He lowered his voice:

"You read that right, sir. Because the numbers I saw are also the same!"

"Haha~" Stanley O'Neal shouted happily again.

At the reception.

There were also comments from the guests.

Ted Lerner now regrets not investing more at that time.

"Fake," Tedlena complained to his daughter:

"Had it not been for Merrill Lynch's debt collection, I would have invested at least US$150 million! It was because of Merrill Lynch that all my cash flow was drained! In the end, I only invested one million US dollars!"

Ikana glanced at her father, not embarrassed to expose him.

At that time, although Merrill Lynch and many banks were pursuing payment from Dad, it was true.

Ted Lerner couldn't afford a lot of money at the time.

We still have liquidity of 10 to 20 million US dollars.

At that time, Ikana also suggested that one or two million US dollars could be invested.

But Ted Lerner refused and only invested $1 million.

In Ikana's view at the time, this was a waste of the investment opportunity she had finally obtained through prostitution.

Because not everyone can invest in a Smith Fund.

Now that I have made money, my father says this.

Ikana was speechless.

She knew that her father was saving face, but she didn't expose it outright.

At the other end of the Hilton Golden Hall.

Robert Morgenthau, who always smiles and remains silent.

He suddenly said to his granddaughter: "Peggy, did you see the looks in those people's eyes?"

"Huh?" Paige came back to her senses. This talented girl in law was still shocked by the numbers just now.

"The expressions of those capital crocodiles in front." Robert said softly.

Paige was startled, then nodded slightly.

Then she heard her grandfather sigh softly again.

"After tonight, for a long time, no one in Manhattan can defeat him."

"Unless you can pass these people's test."

"Before he can make money for these people, these people are his biggest protectors."

There was a sentence that Robert did not say.

That is, if one day, Abel becomes an obstacle to the interests of these people.
To be continued...