Paragon Capital Management, a Singapore-based asset manager which offers a range of hedge funds, equity funds, and real estate funds, has opened its first overseas office in Hong Kong as it seeks to tap into the region’s growing pool of high net worth individuals.
This move aligns with a broader trend of foreign money managers targeting the financial hub.
The firm, which managed SGD1.2bn ($880M) in assets and whose flagship hedge fund, Paragon Alpha I has delivered a 132% return since its inception, has secured a license from Hong Kong’s Securities and Futures Commission to provide a wide range of financial services across the Greater China region.
Hong Kong’s asset and wealth management industry grew by 2% in 2023, reaching HKD31.2tn ($3.99tn), according to a report by the Securities and Futures Commission (SFC), and in September, reclaimed its title as Asia’s top financial centre, overtaking Singapore in global rankings.
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