Ashvin LugunCFA

20.2°S · 57.5°EBeau Bassin-Rose Hill, Mauritius

Corporate finance for hard-asset businesses in the Africa–Indian Ocean corridor.

Two decades in treasury, CFO and investment roles across African and North American markets. I advise on transactions, originate deals, and publish research on the companies and markets of this corridor.

Practice

One advisor, three ways to work with me.

Advisory

Atelier Partners

Independent corporate finance advice and deal origination, run as an atelier of one. You deal with the person doing the work.

  • Corporate finance advisory
  • Deal origination
  • Debt advisory for resource projects
Research

The Atelier Tape

A daily read on markets and the economy, companies and geopolitics, with company research drawn from a working list of names worth owning or questioning.

  • Daily market and economy brief
  • Single-company research notes
  • Financial models

Subscriptions opening soon

Voice

L'Artiste Financier

Shorter essays and observations on finance as a craft. Published on LinkedIn, written for readers who prefer a straight answer.

  • Market observations
  • Notes on capital allocation
  • Essays on the craft of finance

Record

Built inside operating companies before advising them.

My career has run through the finance functions of businesses that dig, grow and lend. That background shapes how I read a balance sheet and how I advise on a deal.

After twelve years in Canada, I returned to Mauritius in 2016 to work from an island that sits between African opportunity and Asian capital.

Credential
CFA charterholder
Functions
Treasury, CFO roles, investment management
Mining
Listed palladium mining company
Resources
Potash and forestry operation
Banking
A major East African bank
Markets
Africa, North America, Indian Ocean

Approach

The shelf I work from.

Every recommendation I make can be traced back to a small set of ideas about quality, price and the people allocating the capital.

Philip Fisher

Know the business deeply. Talk to customers, suppliers and competitors before trusting the numbers.

Seth Klarman

A margin of safety comes first. Avoiding the permanent loss matters more than chasing the upside.

William Thorndike

Judge management by how it allocates capital, because that is what compounds.

Brilliant & Collins

Look for durable competitive advantages that survive scrutiny and time.

Nassim Taleb, antifragility

The frame around all of it: prefer positions and structures that gain from disorder, and be suspicious of anything that only works when nothing goes wrong.

Contact

Write to me directly.

For mandates, research questions or a conversation about a business in the corridor. I read and answer every message myself.

al@atelier.mu