毕凌峰“另类”法则

作为一家2007年成立的新兴基金,行健资本(Stepstone)不同于传统的FOF基金"一揽子"的投资策略,而是针对不同的大型基金,根据该基金的特点、需求、定位等要求提出针对其一家公司的投资组合策略,这在私募股权市场上无疑是一种新的尝试。这种新的尝试很快通过了市场的检验,在行健资本成立短短的4年时间,创造了管理330多亿美元的神话。而之所以取得如此的成绩,都在于其创始人在基金成立之初对于行健资本的规划。

Monte Brem"Alternative"Investment

Barton Biggs is known as a professional on the world’s financial markets.He writes,"to me,investing is much more an art than a science." in the conclusion of his book "Hedge hogging".All of famous investors are familiar with this art,especially FOFs,which are called the gatekeeper of fund managers. How to be a successful gatekeeper? "Intelligence,experience, diligence,a knowledge of history, an open mind,and an obsessive nature are all important ingredients for the successful hedgehog - as are intuition,imagination,flexibility, and maybe just a touch of the seeing eye." is the answer gave by Biggs. These abilities might sounds hard to understand and stiff,maybe only superman could make it. However,in the investment area a number of investors do have these abilities,creating investment myth by their own ways. As a new established FOF which was founded in year 2007, Stepstone is different from other fund’s package investment strategy, it aim at different kind of largesized fund’s characteristics, demands and orientations,giving customized combined investment strategy.It’s no doubt that it is a new try in private equity industry. In year 2007,Monte Brem who was then president of Pacific Corporate Group,and his colleagues Tom Keck and Jose Fernandez conceived a great idea that creating an independent FOF. Four years later,when Brem the founder of Stepstone was telling his entrepreneur dream,he is still exciting. In a sunny afternoon,Brem was telling his soul road in Stepstone office at China Central Place which is commodious and bright.