My Age of Investment

“Mubadala Investment Company is willing to support Xinxin Group’s development dream, and investing US$20 billion is just a small thing for them.

But they also made a request to move the factory and R\u0026D center to their country. "

Hearing the name "Mubadala", Huo Jing's entire face changed first, and then she couldn't help laughing when she heard Fu Jixun's last sentence.

"With all due respect, the foundation of their technology industry is just like the local climate and environment. It is a desert. Is it suitable to build a wafer factory and R\u0026D center?"

Fu Jixun spread his hands, "Mr. Xia also felt it was unreasonable, so he rejected their request without hesitation.

However, they also said that they could invest in Xinxin Group without relocating the industry. "

Huo Jing pursed her lips and said nothing. She couldn't help but start complaining in her heart. There was a group of oil tycoons from the desert who came to Singapore to poach corners.

Although Mubadala Investment Company is not well-known to the outside world, the name is not unfamiliar to Huo Jing at all.

Because this company is a peer of Temasek and a sovereign wealth management fund with an asset management scale of US$100 billion. Its scale ranks among the top among sovereign wealth management funds around the world.

But in Abu Dhabi, an emirate with a population of only two to three million, Mubadala Investment Company can only be regarded as a younger brother. Above it is the Abu Dhabi Investment Authority, which is several times larger.

Xia Jingxing picked up the teacup on the table with a smile and took a slow sip of tea while secretly observing the expression on Huo Jing's face.

Compared with the fussy Singapore, the oil tycoon spends money so quickly and generously. If it weren't for the fact that there was no soil to develop the semiconductor industry there, he would have wanted to move the New Core Group there.

After a while, Huo Jing slowly said: "We have dealt with Mubadala. After acquiring AMD's manufacturing business, they originally wanted to acquire Chartered Semiconductor.

But we felt that New Core Group was more sincere, so we finally handed over Chartered Semiconductor to New Core Group. "

Xia Jingxing smiled. What Huo Jing said was true. There was indeed such a thing. Oil tycoons did not regard money as money. If they had not taken the lead, Chartered Semiconductor might have fallen into the control of Mubadala like it did in the previous life. GlobalFoundries.

It is precisely because of Xinxin Group's advance position that it has created a big problem for the oil tycoons.

Looking at the world, the five largest wafer foundries, Huaxin International and Chartered Semiconductor were each acquired by Fuxing Semiconductor and Xinxin Group. The oil tycoon itself owns GlobalFoundries, which was established by the split of AMD's manufacturing business. If you want to pass If mergers and acquisitions are to be made in large quantities quickly, the only options are Gulf Electric and United Microelectronics.

Yizhou treasures these two semiconductor companies. After all, these are one of their few world-leading companies, and it is difficult for them to agree to sell them.

Now a group of oil tycoons are so anxious that they can't find a suitable merger and acquisition target even if they want to spend money.

It is not impossible to live by GF, or slowly expand new factories. The key is that building new factories takes time, and the semiconductor industry is about the strong.

If GlobalFoundries develops too slowly, or if its revenue and profits never increase, it will have a hard time catching up with advanced manufacturing processes, because the more advanced the technology, the greater the investment.

If there is no way to rush to the forefront of the industry all at once, investment may become a fueling tactic, and then form a huge financial black hole. Not to mention not generating much income, but constantly swallowing up the wallet of Mubadala, the shareholder.

Although the oil tycoons are not short of money, who doesn't want the industry they invest in to make a lot of money?

Under such circumstances, Xinxin Group, which was only established this year, naturally came into the sight of oil tycoons.

At first, the oil tycoon waved his check and wanted to acquire Xinxin Group, but Xia Jingxing refused without hesitation. Only then did the oil tycoon change his mind and instead take a stake in Xinxin Group.

Huo Jing suddenly realized a serious problem and asked calmly: "Mr. Xia, when did Mubadala contact you?"

Xia Jingxing immediately heard what Huo Jing said. Maybe she felt that Temasek, as a shareholder of New Core Group, should guarantee the right to know about such a big matter. However, it seemed that they were the last to know about it.

"Mr. Huo, you misunderstood! Mr. Sheikh Mansour bin Zayed Al Nahyan and I met before in New York.

Later, the Abu Dhabi Investment Authority and Mubadala hoped to subscribe to Vision Capital's hedge funds and had several rounds of talks with Vision Capital.

However, due to various reasons, the cooperation has not been able to move forward.

A few days ago, Mansour contacted me again and asked me to negotiate for a stake in Xinxin Group.

After I finished handling the matter at hand, I immediately flew from the mainland to Singapore to discuss the matter with you.

Even Mr. Fu only found out about this yesterday. I asked for his opinion first, and then I will ask for your opinion today. "

"So that's it! I was overthinking it. Mr. Xia, I hope you don't mind."

Huo Jing immediately expressed her apology, but she still felt that the matter was not that simple.

Xia Jingxing seemed to have guessed what Huo Jing was thinking, and took the initiative to explain: "Mansour also proposed a cooperation plan, using assets as shares, merging GlobalFoundries into New Core Group, and also providing a large sum of money. Philippines’ development funds.”

Huo Jing thought she had discovered the key information in Xia Jing's jargon, and asked: "After merging GlobalFoundries, our wafer fab may be almost the same size as UMC. Now the market is not good, can we digest such a large fab?" Production capacity?”

Xia Jingxing replied calmly: "So, here again it involves Xinxin Group's acquisition of Qimonda and Elpida.

When we bring two memory chip manufacturers under our control, the number of self-produced and sold products alone is huge, and we don’t have to worry about idle production capacity.

Of course, in this large-scale resource integration operation, early losses are unavoidable.

However, Mansour said that as long as Xinxin Group can be built into a top semiconductor company that can compete with Intel and Samsung, it will be worth spending one to two billion US dollars, and Abu Dhabi can shoulder the required development funds. "

Hearing this, Huo Jing didn't know what to say, because Xia Jingxing had considered all the issues and even roped in oil tycoons to pay for the huge investment.

Did they expect that Singapore would be more restrained and cautious about huge investments in the semiconductor industry?

But then again, compared to the oil tycoons who make money easily, Singapore is indeed more prudent in spending money.

Huo Jing thought she couldn't do it without even frowning.

Xia Jingxing glanced at Huo Jing and then said: "If Abu Dhabi successfully acquires a stake in Xinxin Group, in exchange, Vision Capital must also provide fund subscription quotas for Abu Dhabi's sovereign wealth management fund!"

Huo Jing suddenly realized that everything made sense. In the final analysis, it was Xia Jingxing who was investing in Abu Dhabi.

In addition, she has also heard about the popularity of Vision Capital hedge fund shares. Apart from elite capital in the United States, few institutions can participate.

Temasek and GIC once contacted Envision Capital, hoping to subscribe for some fund shares, but were politely rejected.

There is no shortage of money and no shortage of LPs who are enthusiastic to participate in the subscription. This is probably the true portrayal of Vision Capital raising new funds at this time.

For ordinary funds, the father of the funder naturally has to coax.

But for top funds such as Vision Capital, even if others take the initiative to send money to your door, you have to consider whether LP has any added value besides money.

Needless to say, American elite capital, if you don’t help them make money, then no one will protect you.

The reason why Abu Dhabi was able to successfully subscribe to Vision Capital's hedge fund was because of additional conditions, such as taking a stake in Xinxin Group.

Thinking of this, Huo Jing smiled and said, "It's Temasek who followed us and took advantage of Vision Capital."

Xia Jingxing waved his hand and said very magnanimously: "Don't worry about it, Mr. Huo, everyone is working hard for Xinxin Group to develop better.

So, Mr. Huo, can you tell me your opinion now?

Singapore, Abu Dhabi, plus Vision Capital and Daxia Capital. With such a shareholder combination, you don’t have to worry about starting an industrial war with Bangkok, right? "

Xia Jingxing looked at Huo Jing and patiently waited for the other party's reply.

Singapore is timid and spends money carefully. Now he has found a landlord who is not short of money. If he still has a lot of worries like this, it would be a bit unreasonable!

Huo Jing smiled and said: "Mr. Xia, as long as the headquarters of Xinxin Group is still in Singapore, everything else will be decided by you. Temasek has no objection!"

This sentence slightly restored Huo Jing's bad impression with Xia Jingxing. It would be a bit disgusting if he was not willing to pay, but also set up obstacles for those who were willing to pay. Fortunately, Huo Jing still had some wisdom and did not do anything. What a moth.

Xia Jingxing said with finality: "Okay, it's settled then. Someone will come from Abu Dhabi the day after tomorrow, and Mr. Huo will be invited to attend."

"No problem, we will definitely attend on time."

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