Mr Putin's investment in China only takes into account industry and business models

At the end of October 2012, General Investment announced the establishment of the Beijing office to increase the continued investment in the Chinese market.　　Who is the general investment? Compared with Blackstone, Carlyle and KKR, the name of the general investment is unfamiliar.　　The company, founded in 1989 and named after the name of the company, is headquartered in the state of Rhode Island, which currently manages 27 billion of dollars in private equity and has invested more than 130 companies globally. Rhode Island is geographically the smallest state in the United States.　　The general investment that was born here focused on only three sectors of media, communications and information services at the beginning of its inception, and did not begin to invest in education until 2006.　　In TPG, Blackstone, Carlyle, KKR and other giants have already laid out China for many years now, what is the general investment to share the Chinese PE market? Despite a series of big moves by the film company MGM, Warner Music Group, educational software company Blackboard and the U.S. auto Sales website ATC, there are only two Chinese companies in more than 130 of the world's investment companies--Hong Kong television Broadcasts Limited (TVB)　　And Baidu's video site Archie Art. 2011, Hong Kong Entertainment Empire TVB founder Run Run will be held 26% per cent of TVB shares transfer to the Granville Group chairman Wang, Tak Cheung Enterprise Chairman Chen Kwok-keung and the three-dimensional investment consortium.　　After the completion of investment in Archie Arts, the general investment promotion of Archie Art and TVB in the film and television copyright cooperation.　　Of all the invested enterprises in Archie, the most familiar one in the Chinese market. At the beginning of 2010, Baidu registered Caimas, Is. in the company and held 100% of its common stock.　　In March 2010, Providence Capital and dragon-vein capital subscribed to a round of 50 million convertible preferred shares and convertible preferred shares of USD 1 million.　　Archie Art Since its inception that is not to be said to do "China version Hulu." Hulu was once a legend of the Internet. 2007 online Only one months, that is, squeezed out of Google video into the United States to the top ten videos. In its second year, gross margin was nearly 12 million dollars.　　From April 2008 to April 2009, Hulu increased its advertising business by 500% in just a year.　　As early as 2007, when News Corp's Peter Cherny and NBC's Jeff Zhu Ke proposed to set up a new company to broadcast television content, the investment injected $100 million trillion into a 10% stake in Hulu.　　In 2009, Mr Putin helped Hulu introduce a third media partner, Disney, who announced a 27% per cent stake in Hulu on April 30. In October 2012, the news that Mr Putin was investing in Hulu shares was confirmed. After 5 years of holding, Mr Putin will sell its stake at a price of 200 million dollars.　　This means that the deal is valued at 2 billion dollars for Hulu. Back on HuluThe shareholders include NBC, News Corp, Disney ABC TV Group and general investment. General investment is the only non-media company in the investment side, but one of the first investors to participate in the creation and operation of Hulu. This is the characteristics of the general investment, only consider the industry and business model, but do not care about the investment phase.　　According to Tao, managing director of general Investment and Greater China, more than 20 of the more than 130 investments are invested at the time of the company's inception. For example, in the investment of Archie Art, "We bring good experiences from our Hulu, including choosing a good team and participating in the team building." The whole process has done a lot of work, basically starting from scratch. You can imagine how big a project this is. "For the challenge of Archie Art, Tao, a director, admits:" The Chinese market has not yet developed the habit of internet payment. The difference between Hulu and odd art is that Hulu has a lot of expenses. So to say the challenge, the market is the most critical part.　　"General style: 4 areas of investment?" In the international private Equity magazine's 2011 ranking of global private equity firms, the company ranked 19, above the 3i group that entered China earlier.　　However, compared with the latter's 9 projects in China, the investment in general-dimensional investments in Asia from 2006, but only two in China-television broadcasts Limited (TVB) and network video company Archie Art. Even in the Asian context, Mr Putin has bet four times on the same emerging-market India.　　Mr Putin's offices in New Delhi and Hong Kong, India, were set up in 2007, so why is it so slow in China alone? "We have only over 130 projects in our 23-year history, which may be very small compared to our domestic counterparts, but we have a larger amount of each item, see more of the project in the four industries we like, along the value chain." "Tao explains the slow pace of general investment.　　Compared with other funds of the same size, it is limited to the four sectors of media, communications, education and information services, with a single investment between USD 150 million and USD 800 million. Among the six members of the General Investment office in Beijing, Tao joined the general investment at the end of 2011, while director Chen Xin joined the general investment in 2009, while Vice President Kim Jin-Ming joined the general investment in 2011 and the remaining three members joined in 2012. From the previous investment projects, Tao Investment experience is mainly concentrated in the field of education, Chen Sinhai Kim's work experience is mainly in the media and consumer industries.　　In view of this, the investment in the Beijing team in the telecommunications and consumer services, there is not much successful investment experience. Jonathan M. Nelson, senior managing director Glenn Creamer and Paul Salem, chief executive of the global executive team, have grown up in Providence, Rhode Island, and have been at Harvard Business School after graduating from Brown University in the Ivy League schoolMBA degree. In the global fundraising environment is not good in 2012, the general investment in the raising of capital also encountered a small challenge. Jonathan M. Nelson said at the annual meeting that the seventh fund being raised would be affected by the fundraising environment, or that the fundraising target would be adjusted from the earliest 6 billion dollars to $5 billion, according to the October LP, quoted by the International private Equity magazine as the two participant in the Annual General investment Conference. The fund's fundraising is expected to be completed in December. There is no doubt that this is in contrast to the scale of the 12 billion dollars that the sixth fund raised in 2007.