Lunar Capital triples up
Shanghai-headquartered private equity firm Lunar Capital Management has raised $150 million for its third fund, Lunar Capital Partners III, after fundraising started last autumn.
The company’s founder Derek Sulger said that the raising received strong interest from existing and new LPs, as the fund size was some three times that of the predecessor fund. The new fund’s strategy is to invest in corporates located in smaller provincial cities that could benefit from economic growth, as well as “rising domestic consumption, and more geographically distributed development.” Target sectors are initially forestry, agriculture, infrastructure and food-related businesses. The firm has invested five companies since 2008 from the second fund.
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