Although the income of the Japanese stock market has been hit to Zheng Yan's account, Zheng Yan is not in a hurry to start the stock fund business. As a private equity fund, Zheng Yan also needed a suitable third-party custodian.

Although there is no doubt about employing people, and there is no need for doubtful people, this sentence is obviously not applicable in the field of private equity funds. The third-party custodian may perform functions such as supervising the investment of the manager, safekeeping the assets of the fund, and reviewing the valuation and accounting results of the manager. However, Zheng Yan is most concerned about the issue of hosting rates.

Zheng Yan has been considering the selection of a custodian since he promised Bill Miller that he would inject $2 billion into the fund in the early stage. Zheng Yan had previously communicated with Bill Miller that most of the investments he led in the future would revolve around Wall Street, and Zheng Yan himself would increase his investment in the United States, so Zheng Yan still preferred to choose an American bank as a third-party custodian. In the end, after careful consideration, Zheng Yan decided to choose JPMorgan Chase Bank.

JPMorgan Chase Bank, also known as JPMorgan Bank in China, is headquartered in New York and is one of the largest financial services institutions in the United States and the world.

"Miyuki, what time is the appointment with Morgan Bank?"

"Zheng Jun, I have already contacted the person in charge of their port city, Bray Morgan, and made an appointment to meet at two o'clock. ”

Zheng Yan looked at his watch and found that the time was almost up, so he rushed to JPMorgan Chase's branch in Port City with Miyuki Aso.

J.P. Morgan Chase & Co. is located in Central, Hong Kong's Central and Western District, which is the political and commercial center of Hong Kong, with many banks, multinational financial institutions and foreign consulates located in Central. Because he had already contacted in advance, Zheng Yan met the person in charge of the other party very smoothly.

"Hello, Mr. Morgan. ”

"Hello Mr. Zheng, I am glad that you have chosen to work with J.P. Morgan. I don't know what you're going to drink, I know you Chinese people like tea, but I only have coffee and cola here. ”

"I'm not picky about this, give me a cup of coffee. As for whether we can cooperate, it depends on the next negotiations. ”

"Trust me, we at J.P. Morgan can provide you with the best service. What about Miss Aso?"

"Bring me a cup of coffee, too. ”

"It just so happens that I have authentic Blue Mountain coffee here, it tastes very good, you can try it. Lina, make two cups of coffee for the guest. ”

Just by listening to the name, Bray Morgan is from the Morgan family in the United States, plus he has independent overseas business, he must have good ability, although it is just a few simple words, but it feels very good to Zheng Yan.

"Seriously, I was very surprised to meet Mr. Zheng today. In the United States, although there is no shortage of successful people who are young and have more money, at Mr. Zheng's age, it is really rare to achieve such results, even Microsoft's Bill is not comparable. ”

It's not just the Chinese who wear top hats, the Americans know it too, so Bray Morgan didn't rush to start negotiations, but tried to draw the two into the relationship.

Others don't know what's going on, but Zheng Yan himself knows it very well, so when he heard Breymorgan compare himself with Bill Gates, although Zheng Yan's face has always been quite thick-skinned, he couldn't help but feel a little blush at this time.

"Thank you, Mr. Morgan, for the compliment, but I think we should talk about this collaboration first. ”

"No problem, at Miss Aso, I already have a general understanding of Mr. Zheng's intentions. I know you have an investment firm under your name, and you want us at J.P. Morgan to act as a third-party custodian for one of the private equity funds. ”

"Presumably, Mr. Zheng should have understood that, in general, as a third-party custodian, when providing custody services for a new private equity fund, the custody fee rate will be relatively high. ”

"The reason for this is that as a private equity fund, we can't raise much money in the early days, but as a third-party custodian, we have to do the same thing. ”

"However, I am personally very optimistic about Mr. Cheng's future. In order to cooperate for a long time in the future, we can calculate it according to the basic rate in the industry, that is, 20%, I don't know what Mr. Zheng thinks?"

As a member of the Morgan family, Bray Morgan will certainly not be a short-sighted person, otherwise he would not be called the head of JPMorgan Chase in Port City. Therefore, he gave a relatively favorable rate. It's just that he doesn't know that this rate is still a little higher than Zheng Yan's expectations.

"First of all, Mr. Morgan, I am very grateful for your kindness. I don't deny what you said, and I believe that if you change someone, you will happily accept your kindness. However, I personally feel that this rate is still a bit high. ”

"It's true that this equity fund under my name has just been launched, but its head is not new, Bill Miller, which should be regarded as an absolute living sign in the investment world, especially in the field of stock investment. Therefore, in the later stage, there will be no difficulties in raising funds. ”

As a prince of JPMorgan Chase, Bray Morgan is certainly no stranger to Bill Miller's name, but he didn't expect that Zheng Yan actually poached him. Originally, Bray Morgan was still a little unhappy with Zheng Yan's rejection of his kindness, but now it has become a little weaker, but this is not enough for him to make concessions.

"Another thing I know is that no matter how convincing the name Bill Miller is, it will take time to raise funds, but I personally will inject two billion dollars first once the fund is up and running. ”

"Two billion dollars is really nothing compared to the big private equity funds, but it's definitely stronger than most private equity funds, so you don't need to worry about your returns. ”

"Of course, there is also the most critical point, the investment company under my name, in addition to the stock fund led by Bill Miller, I also plan to set up a futures fund and a bond fund in the future, if our cooperation goes well this time, then I think, I don't need to have a headache for the third-party custodian in the future." ”

Bray Morgan didn't expect that Zheng Yan's financial strength was so strong, and if you look at it according to Zheng Yan, he still has at least four billion US dollars in activity funds.

Needless to say, JPMorgan Chase, even for some large corporations, $6 billion is nothing at all, but $6 billion in activity funds is a bit scary.