New York Pacific Capital has signed a memorandum of understanding with the Beijing Municipal Bureau of Finance for the establishment of an RMB-denominated private equity fund in Beijing.
According to the memorandum, the fund will invest primarily in high growth Chinese companies in the healthcare, cleantech, education/culture and consumer products sectors.
David Kopp, chief executive of NYPC, says: "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 memorandum, 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 principals of NYPC have over 30 years of experience in investment banking and direct investments in the Asia Pacific region.
