Lu Min Investment "officially unveiled, with the first 5 billion yuan of high-end chemical parent fund to land

    The "provincial-level private investment" map has risen with "Lu capital". On the morning of May 16th, Shandong Private Joint Investment Holding Co., Ltd. (hereinafter referred to as "Lu Min Investment") was officially unveiled. After the establishment of "Lu Min Investment" in July 2017 and the first extraordinary shareholders' meeting held in November, the company quickly completed registration, raised funds in place, and officially declared its establishment. Relevant investment projects will be accelerated. It is reported that the first phase of 5 billion yuan of the high-end chemical parent fund for the conversion of new and old kinetic energy is about to land.

　　Lu Min Investment "is the first privately-owned joint investment company in Shandong and the seventh" provincial-level private investment "in China. It is led by the Provincial Federation of Industry and Commerce and initiated by more than 10 well-known private enterprises in the province, including Wanda Holdings Group, Dongming Petrochemical Group, and Wuzheng Group. Shang Jiyong, Chairman of Wanda Holdings Group, serves as Chairman, and Li Xiangping, Chairman of Dongming Petrochemical Group, serves as Chairman of the Supervisory Board.

　　The investment thirst of private capital in Shandong has always existed, and the establishment of 'Lu Min Investment' is the trend, "said Guo Jianli, Vice Chairman of the Provincial Federation of Industry and Commerce. In 2017, a total of 57 private enterprises in Shandong were selected as one of the top 500 private enterprises in China, ranking fourth in the country. However, private enterprises are still weak in terms of capital volume, financing channels, and risk resistance, and the resource aggregation effect does not match the new normal of the economy. For Shandong, which is currently undergoing a transition from old to new driving forces, it is also facing pressure and demand for economic transformation and manufacturing upgrading. It is precisely because of these reasons that 'Lu Min Tou' completed the construction work in just four months and registered within 20 days

　　The official unveiling of "Lu Min Tou" marks the comprehensive opening of group investment and cross-border development models for private capital in Shandong. For companies that form a group to establish "Lu Min Investment", it is crucial to ensure internal harmony and consistency, and to make the right investment decisions. Relying on outstanding talents in the financial industry to operate private alliance capital is a common practice in the industry.

　　In terms of financial talent, Shandong is indeed inferior to some southern regions. "Guo Jianli, who once served as the head of the" Lu Min Tou "construction team, introduced that during his study tours at" Su Min Tou "and" Zhe Min Tou ", he always instructed the other party to introduce talents. Less than two weeks after returning from the investigation of "Zhe Min Tou", the other party recommended Xu Peng.

　　Xu Peng is from Shandong and has been working in the south for a long time. He has served as the chairman of a well-known futures company and the general manager of a securities company in China, with rich experience in finance and securities work. He has also been recognized as a leading talent in Shanghai. He also participated in the completion of IPOs and refinancing businesses for companies such as Shandong Expressway, Shandong Gold, Inspur Software, and Qingdao Haier. After obtaining shareholder approval, "Lu Min Tou" officially hired Xu Peng as its president.

　　The initial registered capital of "Lu Min Investment" is 5 billion yuan, which is not a large scale among many "private investments" in China. However, it adopts a "project+parent fund" model and sets up different open-ended special sub funds according to different industries to drive private enterprise investment and leverage financial institution investment. At the Shandong Province New and Old Energy Conversion Fund and Major Project Promotion Conference held in January this year, "Lu Min Investment" and the Provincial Department of Finance jointly initiated the establishment of the Shandong Province New and Old Energy Conversion High end Chemical Industry Mother Fund. The parent fund shall initiate the establishment or investment of several sub funds through market-oriented means in accordance with laws and regulations. The established funds shall mainly invest in high-end chemical industries such as fine chemicals, rubber industry, and petrochemical industry. It is understood that currently, the scale of the high-end chemical industry parent fund for the conversion of old and new kinetic energy has been adjusted to 5 billion yuan.

　　Xu Peng, President of "Lu Min Tou", introduced that the Provincial Department of Finance, on behalf of the Shandong Provincial Government, fulfills the responsibility of guiding fund investors and is responsible for coordinating and promoting the policy formulation, supervision and assessment of the fund. Lu Min Investment is responsible for fulfilling its fund management responsibilities, implementing professional management, scientific decision-making, selecting cooperative partners reasonably, and standardizing investment business. In the future, 'Lu Min Investment' will gradually initiate the establishment of a series of parent funds to participate in the transformation of old and new active industries in Shandong, such as the Advantageous Emerging Industry Mergers and Acquisitions Fund, the Small and Medium sized Financial Institution Liquidity Special Fund, and the Local Enterprise Restructuring and Development Fund

        (转自大众日报/编辑赵宁）