Lunar in the News

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The crystal ball: Predictions for 2017

From LPs looking for realizations from GPs as well as paper gains, to the factors contributing to more buyout opportunities in China, industry participants give their perspectives on the year to come:BRIAN LIM, PARTNER AT PANTHEON, ON THE LP PERSPECTIVE: Sentiment has been more subdued on Asia. You will see some fundraising noise that comes through from the timing of some large funds coming to the market, so maybe the figure to focus on is the average over two or three years....

Read more 2016-12-13 | AVCJ
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Lunar Partner Robin Song addresses the 2016 China 500 Strong Enterprise Summit

2016年8月27-28日,云月投资合伙人、中国/北京股权投资基金协会执行副会长宋斌应湖南省委省政府及中国企业联合会邀请,在长沙出席2016中国500强企业高峰论坛,并在以“产融结合提升企业价值”为主题的金融家企业家对话专场发表专业观点。 本次论坛以“创新与转型:‘十三五’的大企业发展”为主题,由中国企业联合会主办,湖南省人民政府协办,长沙市人民政府承办,第十届全国政协常务副主席、中国企业联合会暨中国企业家协会会长王忠禹,湖南省委书记徐守盛,省长杜家毫,国务院国资委副主任王文斌,工业和信息化部总工程师张峰等领导同志出席致辞,来自中国500强企业的领导人、世界500强企业中国区的高层领导人、知名专家学者和金融机构负责人、主流传媒代表等数百人出席会议。   云月合伙人宋斌在2016中国500强企业高峰论坛产融结合专场的讲话 感谢中企联和主办方的邀请。云月投资是国际上以专注于消费行业投资,专注于控股投资,专注于深入运营提升价值而著名的并购基金,在并购界有一个“云月模式”之称,讲的就是云月投资这些年成功的经验方法和案例。中国及北京股权投资基金协会是最早一批为PE投资机构服务...

Read more 2016-09-01 |
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China's Family Businesses Sell Out to Private Equity

After spending half his lifetime building the family snack food company in the eastern Chinese city of Hangzhou, Yao Weizhong had run out of steam. His 22-year-old son showed little interest in the business, and Yao needed fresh capital and expertise to keep it growing. So Yao, 48, chose a path taken by a growing number of Chinese entrepreneurs these days: He sold a controlling stake in his company, Yaotaitai, to a private equity firm. "The company is hitting a bottleneck," Yao, who...

Read more 2016-04-17 | Bloomberg
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Control Investing in China | AVCJ Video Interview

The key to persuading a Chinese entrepreneur to give up control of a company is not to approach him as a private equity firm, but as someone who knows how to run the business, says Derek Sulger, a partner at mid-market consumer buyout firm Lunar Capital.   "We can do that because the types of companies we are acquiring tend to be in quite similar sectors," he explains. "If we own a babywear business we can have our babywear operating professionals approach kidswear businesses...

Read more 2016-03-17 | AVCJ Video
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Crouching Tiger, Hidden Opportunities; Luxury firms find growth in Asia despite China slowdown

“It’s not about market dynamics,” said Kelly Hu, an associate at China-focused private equity firm Lunar Capital, “It’s about finding the right brands and the right products for the right market segment.”   Hu was speaking at the 16th Fashion & Luxury Goods Industry Meeting, celebrated at IESE’s Barcelona campus this month. The meeting was held in collaboration with ISEM Fashion Business School, and directed by Prof. Fabrizio Ferraro. Founding President of the Industry Meeting, Prof.Pedro...

Read more 2016-03-16 | IESE Business School
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PEI Outlook 2016: China’s year of the Mid-market

In its World Economic Outlook 2016, the International Monetary Fund projects a slowdown in growth in China from 6.8 percent in 2015 to 6.3 percent next year – much lower than envisaged at the start of 2015. However, the government’s attempts to improve the quality of growth through structural reform and its nurturing of a consumer driven economy is providing opportunities for investment. Consumption in China will account for 60 percent of its gross domestic product (GDP) by 2020, according...

Read more 2015-12-23 | PEI
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Robin Song delivered the keynote speech on the First Sino-South Korea Financial Cooperation Summit in Jeju Island

From November 19 to 21, 2015, Lunar Capital Partner Robin Song attended the First Sino- South Korea Financial Cooperation Summit in Jeju Island of Korea and delivered the keynote speech on promoting the collaborative development of Equity Investment Fund industry in both countries by jointly leveraging the historical opportunity from "the Belt and Road Initiative". Over 100 senior officials of governments as well as executives and experts from financial institutions and industrial and commercial...

Read more 2015-11-22 | Sina
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Robin Song attended CAIJING Annual Conference 2016: Forecasts & Strategies

Caijing Magazine Annual Conference 2016: Forecasts & Strategies was held from November 17 to 19, 2015 in Beijing. Lunar Capital Partner Robin Song was invited to attend the forum event and the discussion session, and delivered the professional opinions regarding to the development of capital market, reform of financial regulation system and support for entity economy development. Caijing Magazine Annual Conference is well-known as one of the most authoritative, predictive and influential...

Read more 2015-11-19 | Caijing
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Dining out

By Tim Burroughs Various PE firms have found success supporting Taiwan consumer brands in mainland China. But the food and beverage segment is an example of how picking the team, theme and time can make all the difference Starting from a single store in Taipei in the 1970s, restaurant chain Din Tai Fung has taken its brand across Asia and into the US. Shanghai is home to one third of the 18 mainland China outlets. In carving a niche in that city, the company has done what some doubted was possible...

Read more 2015-11-17 | AVCJ
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Yonghong donations feed school children in Guizhou

Yonghong community outreach programs and initiatives have donated more than 1 million RMB worth beef jerky products to seven primary schools in Guizhou province from November 2 to November 11. The Company has been focused on buidling outreach programs to support local communities.

Read more 2015-11-10 | Yonghong
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Robin Song shares his experiences at the China Capital Market Summit

During the "11th Beijing International Finance Expo", Lunar Capital Partner and Managing Vice Chairman of China Private Equity Association Robin Song hosted an event at the China Capital Market Summit on October 31, 2015.

Read more 2015-10-30 | Sina Finance
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Robin Song at China Finance Annual Forum 2015

The China Finance Annual Forum 2015 was held on October 31, 2015. Lunar Capital Partner and Managing Vice Chairman of China Private Equity Association Robin Song attended and hosted the event.

Read more 2015-10-29 | Finance Sina
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Robin Song at Chinese Fund Innovation Forum

Lunar Capital Partner and Managing Vice Chairman of the China Association of Private Equity Robin Song spoke at the "Chinese Fund Innovation Forum", on October 29, 2015 in Beijing.

Read more 2015-10-28 | CAPE
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Robin Song at the 1st Building Decoration Internet Era Summit

Lunar Capital Partner and Managing Vice Chairman of China Private Equity Association Robin Song spoke at the 1st Architectural Decoration Internet Era Summit, co-organized by China Building Decoration Association and China Private Equity Association, on October 25th, 2015 in Beijing.

Read more 2015-10-26 | China Building Decoration Association
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Robin Song's perspective on China's new normal

Lunar Capital Partner and Managing Vice Chairman of China Private Equity Association Robin Song provided his perspective on “China’s new normal” at the 12th China International Finance Forum held on October 22-23, 2015 in Shanghai.  

Read more 2015-10-22 | Sina Finance
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Private Equity and the Evolving Chinese Consumer: An Interview with Derek Sulger of Lunar Capital

In a recent interview with EMPEA, Derek Sulger discussed the private equity landscape in the context of China’s recent volatility, and the prospects and challenges for Chinese consumer-related businesses.   How would you assess the current state of the private equity landscape in China, specifically in the context of recent volatility on the Mainland stock exchanges?   China’s economy is in better shape than the Western press would lead you to believe. The consumer goods...

Read more 2015-10-20 | EMPEA
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Building blocks

By Holden Mann   As private equity continues to evolve in Asia, GPs want to recruit people with a wider array of talents – but industry participants are split on what skills these new hires should focus upon, and where to find them   “There's such a local talent pool pool of people who haven’t spent any time abroad, and that skill set is just as suitable, if not better, for doing PE in China,” explains a 29-year old vice president at a well-known China-focused GP. “For a Chinese American...

Read more 2015-09-28 | AVCJ
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Jerry spoke at 2015 Global Buyout Forum

2015 Global Buyout Forum, jointly sponsored by China Association of Private Equity (CAPE), China International Investment Promotion Center, Beijing Financial Assets Exchange and Xiamen Municipal Bureau of Convention and Exhibition Affairs, was held in Xiamen International Conference Center in the afternoon of September 9, 2015. More than four hundred people from governmental agencies, foreign embassies in China, domestic and overseas investment institutions and industry associations participated...

Read more 2015-09-10 | CCTV Finance
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Peekaboo at International Childrens Modeling Ceremony

On August 26th, Peekaboo sponsored the finals of the International Children’s Modeling Competition at the Grand Theater in Shanghai. During the show, over 150 children models wore Peekaboo clothing on the runway. The event furthered the brand’s goal of working with kids, letting them express their inner creativity and curiosity.

Read more 2015-08-25 | EF360
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I Pinco Pallino Store Opening at Parkview Green

On August 20, 2015, I Pinco Pallino new flagship store opening in Parkview Green, one of top new malls in Beijing, with unique artist style. The opening gained the strong support and adoration from Zhang Zi Yi and popular Kid Star Tian Xing.

Read more 2015-08-20 | 61kids
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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, then nearing the end of its third decade, was one of the leaders in China’s crowded beef products market, and its Niutou brand of beef jerky was a regional favorite...

Read more 2015-07-20 | AVCJ
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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 said, speaking on a panel at an AVCJ forum in New York.  Having worked in China for 16 years, the private equity investor added that he has seen the Chinese stock market go through three...

Read more 2015-07-09 | Forbes
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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.

Read more 2015-07-02 | Weixin
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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.

Read more 2015-05-31 | Tencent Finance
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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

Read more 2015-04-23 | ChinaVenture
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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” by ChinaVenture. For more about the rankings, please click here.

Read more 2015-04-23 | ChinaVenture
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New Environmental Law May Herald Dawn for Corporate Social Responsibility in China

Since China's new environmental law came into effect on January 1, the number of penalties imposed on domestic firms has shot through the roof. But a closer look at what kinds of cases occur where reveals more about which local governments are really getting serious about responsible business.   Guo Peiyuan, co-founder and general manager of corporate social responsibility (CSR) consulting firm SynTao, told a private audience at the American Chamber of Commerce last week that while energy-focused...

Read more 2015-04-20 | China Economic Review
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Little Star Launch Event Successfully Held in Shanghai

Little Star Launch Event and sHero International Women’s Forum were successfully held on Bund 3, Shanghai. For more on the event, please click here.

Read more 2015-03-06 | Little Star Brands Group
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Man on the Moon

By Andrew Woodman   In 1999, Derek Sulger turned his back on a career with Goldman Sachs to start a company in China. Fifteen years on, having founded mid-market consumer buyout firm Lunar Capital, he has no regrets.   “YOU HAVE GOT TO BE FREAKING KIDDING ME!” This is the approximate response that Derek Sulger, founder and CEO of China-focused mid-market GP Lunar Capital, received from his colleagues when, in 1999, he announced that he would end his almost decade-long career at Goldman...

Read more 2015-02-09 | AVCJ
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Meet Our Managers - Bin Shen

Bin Shen Vice President at Lunar Capital Lunar Capital focuses on private equity investments in China’s increasingly attractive consumer market. Over the past years, we have conducted in-depth analysis on the development of the consumer industry and its various subsectors. In particular, we are very optimistic about snack food. We are bullish on this industry and are aggressively pursuing opportunities to invest and build better businesses. We have a clear...

Read more 2015-01-30 | Lunar Capital
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Meet Our Managers - Dragon Sun

Dragon Sun CEO, Yonghong Food I have worked in the FMCG industry for more than two decades and have served as the COO and General Manager of Budweiser, Master Kong Beverages, Nippon Paint and other enterprises. My preference for companies with renowned brands stems from my belief that high quality and reliable products are more competitive in the consumer market. Joining Yonghong was a natural step in my career, and I am excited to roll up my sleeves and work...

Read more 2015-01-30 | Lunar Capital
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Celebrity Zhang Ziyi at Pitti Bimbo to Present I Pinco Pallino 2015 Fall Winter Collection

Florence, Italy: On January 22, international superstar Miss Zhang Ziyi attended the I Pinco Pallino 2015 Fall Winter Collection Release Conference at Pitti Bimbo.     As the first guest designer for the Italian fashion clothing brand, Zhang Ziyi designed the dress she wore to the event, an "adult version" made in accordance with the "kids' version" also designed by Ziyi.    For more, please click here.

Read more 2015-01-25 | PR Newswire
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Yi Li Spoke at HKVCA Asia Private Equity Forum 2015

Yi Li, Partner at Lunar Capital, spoke on Greater China Panel at HKVCA Asia Private Equity Forum 2015 on January 21st, in Hong Kong. For more, please click here.

Read more 2015-01-20 | Lunar Capital
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Joysun Signs “Champion·Family Life" Proposal

 “Champion·Family Life"  is China's first reality TV Show about the family life of Olympic champions. The show will be broadcasted on 50 local TV channels, including CCTV and Beijing TV. In total, there will be 52 episodes, released every Saturday night in 2015.   On January 12, 2015, the launching ceremony of "Champion · Family Life"  was held in Beijing. During the event, "Champion·Family Life" program launched the proposal "the Brand is Full of Champions Spirit". The proposal aims to spread...

Read more 2015-01-11 | Sina
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I Pinco Pallino: “A Walk in Central Park”

I Pinco Pallino at Pitti Bimbo with the new collection and a preview of the capsule collection with the actress Zhang Ziyi. From the blue of a midwinter’s night’s dream in an enchanted garden to the animalier inspiration of an afternoon at the zoo; from the leaves of an autumnal greenhouse to the carefree hours spent in the park after school, through to the party atmosphere of a special celebration in a gazebo: a child's journey as imagined by I Pinco Pallino for autumn/winter 2015 covers the...

Read more 2015-01-06 | Pitti Immagine
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Lunar Ranked as a “2014 Top 50 Foreign-Owned PE Company”

On December 4th in Beijing, Lunar Capital was ranked within the “2014 Top 50 Foreign-Owned PE Companies” in Zero2IPO Annual Awards. For more about the ranking list, please click here

Read more 2014-12-03 | Lunar Capital
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Lunar Capital's Yi Li: Don't Follow the Trend of Early Investment, Focus on Post-Investment Value-Add

The 14th China Venture Capital & Private Equity Annual Forum organized by Zero2IPO was held at the Park Hyatt Beijing, on December 2nd to 4th, 2014. Yi Li, Partner at Lunar Capital, spoke on the panel "Investment Strategy: Changes in the Era of Innovation".  For more, see PE Daily.

Read more 2014-12-02 | Lunar Capital
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Lunar Capital's Jerry Mao: Compensating for China-style LBO Investment

On November 19th 2014,  ChinaVenture held the 2014 ChinaVenture Investment Conference·Beijing at the JW Marriott Hotel. Lunar Capital Partner Jerry Mao attended and delivered a speech during the Investment Session: "On the Basis of Value Investing,  Excavating Opportunities during Reform". For more information and complete speech transcript (in Chinese) please click here.

Read more 2014-11-18 | ChinaVenture
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Succession-planning Deals: A Matter of Legacy

By Andrew Woodman Long a feature of the developed markets private equity, succession-planning opportunities are beginning to pop up in emerging Asia. Regardless of geography, convincing a founder to sell his business is a challenge Over the course of three decades, Chinese meat snacks producer Guizhou Yonghong - best known for the popular Niutou jerky brand - has grown from a small rural operation to be one of the leading players in its market. The three founders, who set up the company...

Read more 2014-11-04 | AVCJ
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Zhang Ziyi Endorses I Pinco Pallino Crossover Art Design Cooperation

On September 25, 2014, at Plaza 66 in Shanghai, international movie star zhang ziyi attended the flagship store opening ribbon-cutting ceremony of her favorite children's clothes I Pinco Pallino. During the ceremony, the first dress Ziyi ever designed was released under I Pinco Pallino's brand. It featured the coopearation between Ziyi and I Pinco Pallino.

Read more 2014-09-25 | Guangming
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I Pinco Pallino and Zhang Ziyi Join Cross-Border Cooperation to Open Flagship Store in Shanghai Plaza 66

On September 25 afternoon, I Pinco Pallino held its grand opening ceremony in Shanghai Plaza 66, officially announcing the opening of its sixth store in China, and its first flagship store in the country. The flagship store occupies 62 square meters, with the most notable feature being a chandelier imported from IPP's flagship store in Milan, Italy. The chandelier is now transferred to the Shanghai flagship store like an Olympic torch for the I Pinco Pallino brand. The ribbon-cutting ceremony...

Read more 2014-09-24 | QQ
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Lunar Capital’s Yi Li: Increasing Buyout Opportunities in Consumer Sector

On August 29, 2014, Lunar Capital Partner Yi Li delivered the keynote speech at the 2014 Annual ChinaVenture Investment Conference, held at the Grand Hyatt Hotel in Shenzhen. For more information and complete speech transcript (in Chinese) please click here.

Read more 2014-08-28 | ChinaVenture
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Meet Our Manager - Luke Luan

Luke Luan COO, Little Star Brands Group With over 20 years of experience in operations and an affinity for building businesses, I chose to join Little Star Brands Group as COO to oversee the Company’s sales, merchandising and retail operations for all the brands including Yeehoo, Peekaboo and Soho Baby. Having served as COO in companies including Wal-Mart, Gome, Orient Home and Lilanz, I have a clear understanding of what it takes to scale...

Read more 2014-07-30 | Lunar Capital
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Meet Our Managers - Stephan Tang

Stephen Tang CFO at Lunar Capital The Chinese private equity landscape is rewarding GPs with a clear investment strategy, proven discipline to reach goals, and clear governance processes in place that promote transparency and control. As CFO of Lunar Capital, a control-oriented investor focusing on consumer industry in China, my team is responsible for our firm’s finance, treasury, internal operations, and supporting the capital market activities of our portfolio...

Read more 2014-07-30 | Lunar Capital
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China VC: The Virtuous Circle

By Tim Burroughs   China’s VC market is evolving as funds started by or raised from founders of first-generation internet firms. Concerns about conflicts of interest must be addressed, but the influence of their ecosystems will grow.   Just over two years ago, Andrew Teoh passed up a role on Chinese e-commerce giant Alibaba Group's mega IPO for a career helping companies get started on the journey that might end in a public listing. The world will soon find out whether Alibaba Group...

Read more 2014-06-02 | AVCJ