Advantages of a Sector Focused Approach
Over the past quarter, we have spent considerable time thinking through the current macroeconomic situation. Thankfully, our operations suggest that China’s consumer remains on track, and we remain cautiously optimistic that consumer spending will rise, companies with room for operational improvements remain good investments, providers of niche discretionary products will outperform, and the key drivers […]
Leading the Herd
By Holden Mann Lunar has spent the last two years building Yonghong’s regional beef jerky brand into a national contender. The firm hopes to show the possibilities for progress that come with control deals. In 2013, the management team at Guizhou Yonghong had a problem. Not with the business itself – the company, […]
It’s Not 1929 For China Stocks But VC Bubble Will Burst
It looks as though there wasn’t so much to worry about the collapsing stock market in China. And that definitely proves Derek Sulger, a managing partner at Lunar Capital, right on in his predictions about the impact. Indeed, China stocks had the biggest daily gain in six years. “This is not 1929,” he […]
IPP 2016 Spring/Summer Collection at Pitti Bimbo
IPP presented its 2016 Spring/Summer Collection at Pitti Bimbo in Florence, Italy on June 27th. Maria Bogdanovich, a world famous designer and ballet dancer, was a guest designer for the collection. For more, please click here.
The Case for Buyout Private Equity in China
For the past 35 years, Chinese private businesses have been growing at full tilt, and now account for more than 75% of total gross industrial output. Many of these private companies originated from OEM manufacturing, and thrived in the export-driven economy of yesterday. Cheap labor, low entry costs, and a supportive currency allowed homogeneous competition […]
Lack of Management Professionals is the Biggest Challenge for Majority Investments
Yi Li spoke on panel “Value Creation in Private Equity Investing” at HKVCA 14th China Private Equity Summit 2015 on June 1. During the Summit, Yi Li was interviewed by Tencent Finance, click here to view the published article.
Chinese Consumer Story Remains Strong
Analysts and party leaders are calling for a need to rebalance China’s development toward a consumption-driven economy, and move away from investment-led growth, which has slowed. Despite the gradual increase in number of China skeptics, we are confident that China remains the fastest growing consumer market in the world. A recent McKinsey report argues that […]
Retail Rounding a Corner
Newspapers last year were littered with stories highlighting concerns about expanding retail inventories driven by short-sighted management chasing top-line growth. Blind expansion from 2006 to 2011 resulted in unstable inventory levels as total industry points of sale more than tripled, and EBIT margins dropped by close to half. Today, there are signs that the industry […]
Lunar Capital’s YR Cheng Spoke at ChinaVenture Annual Conference 2015
YR Cheng, Partner at Lunar Capital, spoke about buyouts at the ChinaVenture Annual Conference 2015 in Shanghai. The ChinaVenture Annual Conference is one of the biggest conferences in the PE/VC industry in China. For more, please read here.
Lunar Ranked # 10 on “Top 30 Best Foreign PE Firms in China 2014” List
On April 23rd, the 2015 ChinaVenture Annual Award Ceremony was held in Shanghai. During the event, ChinaVenture Research Institute revealed their “China VCPE Industry Annual Ranking 2014”. Lunar was ranked # 10 in the “Top 30 Best Foreign PE Firms in China 2014” and #21 in the “Top 50 Best PE Firms in China 2014” […]
