With over two decades of experience steering high-net-worth clients through volatile markets, Paul Lee has established himself as a leading figure in wealth and investment management. His journey has seen him excel across top-tier institutions such as Credit Suisse AG and Barclays Wealth & Investment Management, earning the trust of clients who have remained with him for over a decade.
The expertise of the Co-Founder, Chief Executive Officer and Chief Investment Officer of Paragon Capital Management Singapore, is widely recognised. In fact, his firm recently achieved a significant milestone by raising close to $38 million in the first close of its global real estate fund (GREAT), in partnership with the real estate co-investment platform RealVantage.
In this exclusive interview with Business Frontier, Lee offers his insights into the dynamic real estate landscape of Asia Pacific and shares his strategies for navigating investment opportunities in today’s evolving market.
Q. Tell us about your early days in the industry.
My journey in wealth management spans over 18 years, providing me with an array of experience and insights in managing wealth for our clients. These early experiences were instrumental in shaping my industry knowledge and the importance of client-focused strategies. Over time, I’ve come to realise that true success in this field is built on understanding each client’s unique needs and goals. This personalised approach has been the foundation of building lasting relationships and driving long-term success.
Q. What are the most exciting and challenging aspects of your job?
People are the most exciting. Internally, I enjoy building an effective team. Externally, I enjoy meeting people and adding value to prospects and clients to meet their wealth goals. The challenge lies in balancing short-term demands with long-term vision, especially as we navigate an ever-changing market landscape. Additionally, managing client expectations and delivering consistent results in a dynamic environment requires constant focus and adaptability. But overcoming these challenges is what makes the work so fulfilling.
Q. As a CEO, what strategies do you use to develop talent within your team?
Talent development is crucial to our and our clients’ success. We foster an entrepreneurial mindset among our colleagues, encouraging them to take ownership of their roles and ideas. Our workplace is designed as a safe space for innovation, where collaboration is key. We believe that when team members feel valued and inspired, they perform at their best.
Q. What do you think of the evolving real estate landscape of Singapore, and what opportunities do you foresee for investors and businesses in the Asia Pacific region on the whole?
Real estate continues to prove itself as a resilient asset class, offering excellent growth opportunities for diversification-minded investors. With the current economic uncertainties, we are also seeing clear market dislocations in the real estate sector. These present attractive value for investors.
The Asia Pacific region, with Singapore at its heart, is particularly dynamic, offering a blend of established markets and emerging opportunities that can yield significant returns when approached strategically.
Q. Tell us about the global real estate fund (GREAT) for which your firm recently raised 38 million dollars.
Our GREAT Fund is a global private equity real estate initiative designed to create a diversified portfolio of investments across multiple markets. We are targeting a net internal rate of return of 12-15% over a five-year period, which includes a projected 4-5% cash yield distributed quarterly. What sets the GREAT Fund apart is its ability to capitalise on market demand-driven real estate asset classes. We achieve this by leveraging partnerships with established real estate managers in the Asia-Pacific, Australia, the UK, and the US. This allows us to access a wide range of investment opportunities across equity, mezzanine, and debt capital markets.
Q. What strategies do you recommend for fostering business growth and investment in Singapore regardless of the industry?
At Paragon Capital Management, our core strategy revolves around building long-term relationships with our clients. We’re committed to helping them grow their wealth through research-driven investment strategies. We believe thorough insightful market analysis will position our clients well for capitalising on emerging or existing opportunities. In Singapore’s dynamic business environment, this means staying agile, embracing innovation, and always keeping an eye on both local and global market forces.
Our focus is on industrial, logistics, residential, retail, office, and hospitality sectors. Additionally, we’re closely watching emerging sectors such as build-to-rent properties, healthcare facilities, student accommodation, and elderly care centres. These areas are showing potential for significant growth and returns, reflecting broader demographic and economic trends in the region.
Q. How has technology influenced the investment industry?
Technology has been a game-changer in our field. At Paragon Capital Management, we view it as a powerful gateway to enhance our capabilities, services, and performance. We’re constantly exploring ways to leverage technological advancements to provide more accurate analysis, streamline our operations, and ultimately deliver better results for our clients.
It’s not about replacing human expertise, but rather leveraging it to power capabilities and create more value.
Q. What advice do you have for budding entrepreneurs and investors?
For those starting their journey in entrepreneurship or investment, I cannot overstate the importance of trust. At Paragon Capital Management, the trust we’ve built with our clients over the years is our most valuable asset. It has been and will continue to be our north star in doing business. My advice would be to prioritise building and maintaining trust in all your professional relationships. It’s the foundation of long-term success in this industry.
