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In 1998, NYPPEX, founded the intermediary business for secondary private equity transactions.
Today, NYPPEX provides secondary private market advisory, execution, processing and research services worldwide. Primarily through its institutional members and the NYPPEX IPL Private Trading System™, NYPPEX offers access to a large global pool of liquidity for unregistered interests in private partnerships (e.g. buyout, venture, natural resources, hedge funds etc.), securities in private companies and credit claims (together as "Alternative Assets"). Customers include governments, financial services firms, institutions, corporations, advisors and private clients.
The Company's unique combination of specialized professionals, technology-based private trading and processing systems, research and data services, offer an unmatched capability to solve a wide variety of client objectives. To date, NYPPEX has executed over 465 secondary private transactions for numerous leading organizations worldwide.
NYPPEX's edge is its ability to provide customers:
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a comprehensive menu of advisory, execution and processing
services at low cost;
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execution flexibility for large, small and recurring
private transactions including portfolio divestitures, block trades and odd-lots;
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a high level of comfort that an adverse tax consequence
is unlikely due to its private letter ruling from the Internal Revenue Service;
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a long-term track record of providing access to global
private market liquidity under a variety of market conditions
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In general, the Company’s standard private offering process for each deal includes:
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invite a limited number of prospective motivated qualified purchasers,
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obtain an executed non-disclosure agreement prior to making available the non-public offering documents,
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coordinate with the fund or company issuer, and;
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provide secure, password protected online access to the NYPPEX IPL Private Trading System™ to view the deal’s offering documents and research (if available), generate return scenario analytic reports, perform due diligence, communicate questions and make requests, enter orders, execute transfer documents and settle.
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NYPPEX has a rich history of market leadership which includes:
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Leading the consolidation of its sector during the 2000-2002 period, through acquisitions of OffRoad Capital, Inc (venture backed by Mayfield Funds and Robert Stephens); Private Trade, Inc (founded by Jerome Kohlberg of KKR) and U.S. Venture Exchange, Inc (founded by two former executives of Bessemer Trust).
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Serving on a U.S. Congressional Oversight Committee comprised of 20 business leaders in connection with the Enron hearings in 2002, to provide comments regarding proposed legislation,
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Formal recognition by the Internal Revenue Service of the NYPPEX Qualified Matching Service ("QMS") through a private letter ruling issued to NYPPEX in 2004 (PLR-111165-04) under Treasury Regulation 1.7704. The NYPPEX QMS enables general partners to permit interest transfers for up to 10% of a private partnership’s capital commitments in a single fiscal year (instead of the standard 2%) by meeting the requirements for a QMS safe harbor exemption.
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