Blackstone Group is mainly private equity.

PNC's Black Rock Group is a mutual fund, which is mainly public offering.

As the world's largest private equity firm, Blackstone Group manages only about US$86.5 billion in funds at this time.

The second place is Europe's EQT (EQT Group).

EQT Group is a Swedish company. It is currently Europe's largest private equity firm, with assets under management of more than 80 billion euros.

EQT Group is also a listed company on the Stockholm Exchange in Sweden.

EQT Group's parent company, Einruida, is the largest industrial holding company in the Nordic region, and its subsidiaries include many Fortune 500 companies such as ABB, Ericsson and Electrolux.

The third place is the American "Kohlberg Kravis Roberts" group.

This name is too long, so the industry generally calls it KKR Group, the third largest private equity firm in the world and the second largest in the United States.

Controls more than $70 billion in funds.

What did you see?

If Smith Capital’s US$50 billion private placement can be fully raised successfully.

Then it will immediately become one of the top ten private equity companies in the world.

Because in the private equity field, a single private equity fund of more than US$3 billion is already a large private equity fund.

In the global private equity field, there are more small private equity funds with a scale of hundreds of millions of dollars, which specialize in a certain investment field.

A total of US$50 billion was raised at one time. It was also a private placement. Even on Wall Street, this was the first time in history.

After the news came out, Wall Street giants didn't believe it at first.

Because if this fundraising is successful, it will be the largest single private equity fund in financial history.

EQT Group, Blackstone Group, KKR Group.

Those are all managing dozens or hundreds of private equity funds, and the custody funds are so large.

Smith Capital is good, I want to eat all at once.

I want to become more than half of the Blackstone Group at once.

To be honest, even Wall Street, which is already a little afraid of Abel, is not optimistic that he can succeed.

120 Broadway, Four World Financial Center Tower, Manhattan, New York City.

Floor 34.

This is the headquarters of Merrill Lynch, one of the five major investment banks on Wall Street.

Merrill Lynch CEO David Komansky is in talks with Charlie Scharf, who has been rehired not as CFO but as special financial adviser.

Charlie Scharf on the last USD/JPY event.

As the unlucky scapegoat, he became the scapegoat together with O'Neal, a black man who was one of the original presidents.

O'Neal, a black man, stepped down after that incident. He was later sued by Merrill Lynch, and the trial will be held in a month.

With the power of Merrill Lynch, even if O'Neal is a black man, he will inevitably go to jail.

As for how long it will take to sit, it depends on the mood of David Komansky, the current CEO of Merrill Lynch.

Judging from the extent of O'Neal's disregard for David Komansky at the time.

It is estimated that Stanley O'Neill will not have a chance to come out if he does not stay in prison for ten or eight years.

In contrast, Charlie Scharf was an unlucky guy. He was O'Neal's confidant at the time.

Although he advised O'Neal at that time, the black president did not listen.

After that huge loss, Merrill Lynch held the company accountable.

O'Neal stepped down and was indicted. Charlie Scharf was fired to deal with angry backers.

But senior officials, including David Komansky, knew that Charlie Scharf was innocent.

Everyone knows that Charlie Scharf is a very capable financial elite.

If it hadn't been for Charlie, Merrill Lynch's losses would have been much worse.

In addition, David Komansky wants to return to power and needs some confidants.

So two months after firing Charlie Scharf, he was hired by Merrill Lynch.

It’s just that Charlie can’t continue to serve as chief financial officer as he did before.

Charlie Scharf is now Mr. CEO’s special financial advisor.

It was David Komansky who wanted to cultivate trusted henchmen because he had the ability.

“A private placement of $50 billion in a single private placement.”

In the CEO's office.

David Komansky looked at Charlie Scharf across from him, "Charlie, what do you think?"

This thing is too outrageous.

Even Charlie Scharf has always been among the Wall Streeters who admired Abel the most.

At this moment, Charlie Scharf also couldn’t believe it:

"Fifty billion US dollars? Isn't that too exaggerated? Even if it is divided by ten, raising US$5 billion at once is not an easy task."

David Komansky nodded and said, "Richard and I also discussed this matter at the financial reception yesterday. Richard also believes that it is impossible for Smith to complete it."

"But what if he finishes it?" Charlie Scharf couldn't help but ask.

"Then we have to be careful from now on." David Komanski said with a wry smile:

"Smith holds $50 billion, plus his own funds and other public funds. Wall Street will no longer be safe."

"Yeah," said Charlie Scharf.

"Also." Charlie Scharf whispered again: "Mr. Komansky, if it is true, will Merrill Lynch subscribe?"

"Why not?" David Komansky said directly: "As long as it is guaranteed, of course we will invest."

Charlie Scharf thought to himself, you are very contradictory.

On the one hand, I don’t believe that Abel Smith can reach the fundraising quota.

On the other hand, if it was true, Merrill Lynch would invest.

What is this?

Is it good to be optimistic and not optimistic at the same time?

Charlie Scharf was very quiet at this time and decided not to comment.

"Charlie." David Komansky did not let him go. "You know Abel Smith. You know David Mellon better."

"How about you go to Smith Capital and find David Mellon to confirm whether this private placement is real or fake? I'm begging you."

Charlie Scharf smiled bitterly, knowing that he simply couldn't refuse.

Unless he doesn't want to work at Merrill Lynch or continue to work in the financial field.

Because it is obvious that David Komansky brought himself, a confidant of former President O'Neal, back to the company as a special adviser.

What matters most is that I was most likely the main person responsible for negotiating with Smith Capital at Merrill Lynch before this.

I also have a good relationship with David Mellon.

The other people at Merrill Lynch have little to do with it, so if you let them do it themselves, the results will be better.

This is currently my biggest role for Merrill Lynch.

This is also the most important reason why David Komanski will bring himself back.

Thinking of this, Charlie Scharf could only sigh in his heart and smiled on the surface:

"Of course it's no problem. Mr. CEO, I will complete the task."

Seeing how sensible he was, David Komansky patted his shoulder and said, "Charlie. Looking forward, I'll leave this matter to you."

Charlie Scharf had no choice but to agree and went to Smith Capital in the afternoon.

Not surprisingly, Charlie Scharf met many Wall Street acquaintances in the parking lot of the Smith Building.

For example, Goldman Sachs, Lehman Brothers, Morgan Stanley, Bear Stearns and other companies all send people here.

They are all high-level.

There are also senior executives from other Wall Street firms.

Charlie Scharf saw these people, and these people saw him.

Without saying it directly, everyone knows each other's true purpose of coming to Smith Capital.

Soon people gathered together and chatted quietly.

The person who chatted with Charlie Scharf was Lord Blankfein, head of fixed income commodities at Goldman Sachs.
To be continued...