Lunar Capital boosts operating partner team
Lunar Capital has appointed Eric Yiming, a long-serving China and Asia executive with Sampoerna Tobacco Group, Heineken and Tropicana, as a sector partner. Yiming will focus on the food, beverage and fast-moving consumer goods industries, and although he has yet to be deployed with a particular portfolio company, this is expected to happen in due course.
Yiming has been working with Lunar since 2012 in a number of advisory capacities. His background is sales and marketing, having coordinated initiatives for brands including Heineken, Tiger, Tropicana and Marlboro.
The appointment comes barely three weeks after the private equity firm announced that Vincent Sun, formerly China general manager for Parker Pens, would join as sector partner for high-end branded consumer goods. He is expected to be seconded to children's clothing retailer I Pinco Pallino Asia as general manager.
This follows the China-focused GP's normal practice of hiring industry veterans to support the development of specific portfolio companies. Rather than maintain a dedicated operating team, it recruits individuals with relevant expertise before making an investment, uses them during due diligence and then offers them a salary-plus-equity package as CEO of the portfolio company.
This was the case with Simon Liu, a sector partner covering the beverage industry, who has since been seconded as CEO of Joysun, a Chinese manufacturer of walnut-flavored beverages.
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