Subject: About Sinopec Deal
From: "Jason Zhu" <[email-masked]>
To: <[email-masked]>, "'Hunter Biden'" <[email-masked]>, "Bulger Jim" <[email-masked]>, "Michael Lin" <[email-masked]>, "Leonard Mike" <[email-masked]>, "Sebastian Momtazi" <[email-masked]>
Cc: "'jonathan.li'" <[email-masked]>,'夏雨（Yu XIA）' <[email-masked]>
Date: Tue, 3 Feb 2015 12:40:32 +0800

Dear all,

For the Sinopec deal, one of our LP has a little hesitation to put money on
this deal, since the closing delayed almost 2 months and this LP has some
personal reasons. The good news is BHR could split out RMB 750 million
(approximately US$ 120 million) investment quota of Sinopec deal for
overseas investors. And if we could replace this LP, we can change more
management fee. Considering we are in the phases of SOEs reform fund
raising, and this is a perfect and immediate deal, we believe it’s a good
opportunity for you to sale both the SOEs reform fund and this deal.

We list the key terms of Sinopec deal fund as below: 1) Existence Period: 3
years, with 2 years extension option; 2) Management fee: 1.5% per year for
first 3 years; 3) Hurdle rate: 8%; 4) Carry interest for GP: 20%. 5) Target
return: 14%-20%.

In terms of commission, two-thirds of first year management fee would be
paid for the agent as fund raising commission, which means 1% of introduced
investment amount would be shared with agent, if management fee can reach 1.
5% of investment amount.

We are preparing the English version material, enclosed preliminary version
was only for your reference, and the final version will be circulated very
soon.

 

Regards,

诸晨刚 Jason Zhu  

执行董事 Executive Director

渤海华美（上海）股权投资基金管理有限公司

Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co., Ltd.

北京市朝阳区建国路79号华贸中心写字楼2座31层3101室 邮编：100025

31/F, Unit 3101, Tower 2, China Central Place, 79 Jianguo Road, 

Chaoyang District, Beijing 100025, China

Cellphone: 136 8169 7246

Tel:  86 10 5969 5858

Fax:  86 10 5969 6123

Email:  <mailto:[email-masked]> [email-masked]