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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )
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New Century Financial Corporation
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
64352 D 10 1
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(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
(Continued on following page(s))
Page 1 of 5
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CUSIP No. 64352 D 10 1 13G Page 2 of 5 Pages
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(1) NAMES OF REPORTING PERSONS.
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
CORNERSTONE EQUITY PARTNERS, L.L.C.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(See Instructions) (b) / /
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Arizona
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NUMBER OF SHARES (5) SOLE VOTING POWER
BENEFICIALLY -0-
OWNED BY --------------------------------------------------
EACH REPORTING (6) SHARED VOTING POWER
PERSON WITH -0-
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(7) SOLE DISPOSITIVE POWER
-0-
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(8) SHARED DISPOSITIVE POWER
3,370,656
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,370,656
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(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES / /
(See Instructions)
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
23.9%
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(12) TYPE OF REPORTING PERSON (See Instructions)
OO
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ITEM 1(a) NAME OF ISSUER:
New Century Financial Corporation (the "Issuer")
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ITEM 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
18400 Von Karman, Suite 1000, Irvine, California 92612
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ITEM 2(a) NAME OF PERSON FILING:
Cornerstone Equity Partners, L.L.C.
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ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OF CORNERSTONE EQUITY
PARTNERS, L.L.C.
5050 North 40th Street, Suite 310, Phoenix, Arizona 85018
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ITEM 2(c) CITIZENSHIP:
Cornerstone Equity Partners, L.L.C.: Arizona
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ITEM 2(d) TITLE OF CLASS OF SECURITIES:
Common Stock, $.01 par value ("Issuer Common")
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ITEM 2(e) CUSIP NUMBER:
64352 D 10 1
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR 13d-2(b),
CHECK WHETHER THE PERSON FILING IS A:
Not Applicable
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ITEM 4. OWNERSHIP
CORNERSTONE EQUITY PARTNERS, L.L.C.:
(a) AMOUNT BENEFICIALLY OWNED: 3,370,656 (A)
(b) PERCENT OF CLASS: 23.9%
(c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) sole power to vote or to direct the vote: -0-
(ii) shared power to vote or to direct the vote: -0-
Page 3 of 5
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(iii) sole power to dispose or to direct the disposition of: -0-
(iv) shared power to dispose or to direct the disposition of:
3,370,656 (A)
(A) All shares are owned of record by Cornerstone Fund I, L.L.C., an
Arizona limited liability company, of which Cornerstone Equity
Partners, L.L.C. is a member. Under the Amended and Restated
Operating Agreement of Cornerstone Fund I, L.L.C., Cornerstone
Equity Partners has the right to approve any disposition of Issuer
Common held by Cornerstone Fund I, L.L.C.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not applicable.
ITEM 9. DISSOLUTION OF GROUP
Not applicable.
ITEM 10. CERTIFICATION
Not applicable.
Page 4 of 5
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SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct.
February 15, 1996
CORNERSTONE EQUITY PARTNERS, L.L.C.
By: /s/ Sherman Chu
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Title: Manager
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