Paragon Capital Management And Realvantage Mark First Close Us50Mil Real Estate Fund
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Singapore-based asset management firm Paragon Capital Management and real estate fractional investment platform RealVantage have joined forces to launch a new private equity fund called the Global Real Estate Alternative and Tactical Fund (Great). The fund, with a target size of US$50 million, has recently completed its first close with a 75% subscription rate within just a month of its launch.
The Great Fund is the brainchild of Paul Lee, CEO & CIO of Paragon Capital Management, and Keith Ong, CEO of RealVantage. The investment committee, which includes Beng Tiong Ng, Chairman of RealVantage and an industry veteran with over 30 years of experience in real estate, finance, M&A and governance, will oversee the fund’s investment strategies.
The fund aims to achieve a target net internal rate of return of 12%–15% over a five-year period, with a projected quarterly cash yield of 4%–5%. It will invest in a diversified portfolio of real estate assets, primarily focusing on industrial, logistics, residential, retail, office, and hospitality sectors. Additionally, it will also target emerging sectors such as build-to-rent, healthcare, student accommodation, and elderly care.
Driven by high interest rates and falling valuations, the Great Fund will also explore opportunities in distressed assets, particularly in the office and retail sectors where pricing has been affected. It will collaborate with established real estate managers in Asia Pacific, Australia, the UK, and the US to identify investment opportunities across equity, mezzanine, and debt capital.
Overall, the Great Fund aims to provide investors with attractive returns through a diversified real estate portfolio and strategic investment strategies.