NYPC Raising RMB Fund

New York Pacific Capital has received approval to raise an RMB-denominated private equity fund in Beijing, with a focus on Chinese companies in the healthcare, clean tech, education/culture and consumer products sectors.

PRESS RELEASE

NYPC signed a Memorandum of Understanding (MOU) of general cooperation with the Beijing Municipal Bureau of Finance for the establishment of an RMB-denominated private equity fund in Beijing on July 30, 2010.

According to the MOU, the fund will invest primarily in high growth Chinese companies in the healthcare, clean tech, education/culture and consumer products sectors.  Mr. David Kopp, CEO of NYPC, stated: “We are very pleased to execute this MOU and look forward to working with local SMEs to help nurture them into leading companies.  Under our cooperation agreement, the fund will prioritize investments in Beijing-registered and government-supported companies to enhance the industry structure and promote the local economy.”

Under the terms of the MOU, the Beijing Municipal Bureau of Finance intends to provide support to the fund by helping it obtain capital as well as introducing the fund to strategic partners, potential investors and local investment projects.

The signing of the MOU demonstrates the great efforts of the Beijing Municipal Government and Beijing Municipal Bureau of Finance to promote the private equity industry in Beijing. In addition, it will also further strengthen Beijing as a major financial center and a leading city for the PE business in China.

About NYPC

The principals of NYPC have over thirty years of experience in investment banking and direct investments in the Asia Pacific region. The team has managed over $2 billion in private equity investments over the past ten years.  With its unique global capital network, disciplined private equity investment approach and local Chinese market experience, NYPC provides investors with consistent returns while helping to develop the local economy.