Bear Stearns Corp. (new york Stock Exchange code: BSC) was established in 1923 and its headquarters is in new york. It is the fifth largest investment bank on Wall Street in the United States, one of the top 500 companies in the world, and the world's leading financial service company, providing services to governments, enterprises, institutions and individuals around the world. The company's business covers corporate financing and mergers and acquisitions, sales and trading of institutional stocks and fixed-income products, securities research, private customer service, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Bear Stearns also provides financing, securities lending, settlement services and technical solutions for hedge funds, brokers and investment consultants. It has about 65,438+04,500 employees worldwide. Headquartered in new york, USA. Bear Stearns, which has a history of 85 years, experienced the Great Depression in 1930s and many ups and downs in American economy, but eventually suffered serious losses in the subprime mortgage crisis in 2008, and was on the verge of bankruptcy and was acquired.
Bear Stearns teamed up with Huang Guangyu, and the $500 million fund targeted the retail industry.
In 2007, Bear Stearns planned to set up a $500 million China investment fund as part of its unusual cooperation project with Huang Guangyu. Bear Stearns and Pengrun Investment Group will each contribute US$ 250 million to establish a joint investment fund with a maximum of US$ 500 million, with a wide range of investment objectives. At the press conference held on March 2 1 2007, Huang Guangyu said that in addition to home appliance retailers, local retailers will be the focus of investment funds. Geographically, in addition to the economically developed coastal cities in China, the fund will also focus on second-tier cities such as Chengdu and Xi. Each investment of the fund will be around $50 million.
Bear Stearns Merchant Banking, a private equity operation company owned by Bear Stearns, has long been committed to investing in American retail industry, including Balducci, Stuart Weitzman Shoes and Vitamin Shoppe. Bear Stearns intends to move the American model to China and invest in retail enterprises in China.
The biggest problem they face is to recruit an experienced management team. Gome will help provide training for company managers who invest in new funds. John Howard, CEO of Bear Stearns Commercial Bank, said that the cooperation with Gome will give the company a huge lead.