It’s not every day that a real estate executive dismantles an empire only to rebuild it into something stronger, lighter, and more global. But that’s exactly what Lee Chee Koon, Group CEO of CapitaLand Investment (CLI), did.
When Lee took the helm of CapitaLand in 2018, he saw more than balance sheets and property portfolios. He saw untapped potential in what the future of real assets could be. By 2021, he had led a sweeping corporate restructure, spinning out CLI as an asset-light, globally competitive real asset manager—the first of its kind from Asia.
Under his watch, CLI’s funds under management (FUM) surged from S$86 billion to S$117 billion, with a clear roadmap to hit S$200 billion by 2028.
Rewiring the Model
Most CEOs inherit a legacy. Lee rewrote his. The 2019 merger with Ascendas-Singbridge was a deliberate pivot to reposition CapitaLand from a traditional property developer to a future-facing investment platform. The deal not only deepened CapitaLand’s foothold in business parks, industrial assets, and logistics but also expanded its fund and lodging management capabilities.
The culmination of this strategy came in 2021, when Lee led the landmark restructuring of CapitaLand. This move split the group into two entities: CapitaLand Investment, focused on fund management and asset-light growth, and CapitaLand Development, the private real estate development arm. CLI was listed as an independent, publicly traded entity, making it one of Asia’s few global real asset managers with a strong investment platform and operational scale.
This transformation was no accident. With degrees in mechanical engineering from the National University of Singapore and Imperial College London, Lee brings a systems-thinking approach to leadership, one that values agility, analytical clarity, and structured growth. His engineering mindset helped shape CLI’s evolution into a multi-vertical powerhouse, operating across 45 countries with exposure to fast-growing sectors like private credit, digital infrastructure, and sustainability.
From Operator to Visionary
Lee’s journey at CapitaLand began in 2007, and his steady rise through strategic leadership roles prepared him for the transformation ahead. As CEO of The Ascott Limited, he built one of the largest international lodging businesses. Later, as Group CIO, he sharpened CapitaLand’s capital allocation and portfolio strategies. By the time he became president and group CEO in 2018, he had both the operational understanding and strategic foresight to lead large-scale change.
One of his most defining leadership qualities is his ability to see around the curve. In 2024, Lee spearheaded CLI’s strategic investment in SC Capital Partners and its acquisition of Wingate Group Holdings’ property and corporate credit investment business. These moves strengthened CLI’s position in private credit and alternative assets—two fast-growing investment verticals reshaping the global capital landscape.
Connecting Capital with Purpose
More than building a fund platform, Lee’s ambition for CLI is to become a conduit for purposeful capital. With the ability to connect Asian investors to global opportunities and vice versa, CLI now serves as a bridge by allocating funds across asset classes, regions, and sectors based on megatrend-driven theses.
At the 2025 PERE Asia Summit, where Lee was a keynote speaker, he addressed the structural changes facing the industry. He spoke about “finding value in dislocation”, referencing how widened bid-ask spreads and tightening capital markets could yield long-term opportunities for patient investors. He also highlighted geopolitical shifts and their implications for cross-border capital flows.
Most critically, he emphasised the next phase of alpha generation—targeting mispriced assets, driving operational efficiency, and focusing on sectors poised for secular growth, such as digital infrastructure, urban logistics, and private credit.
Leadership That Shapes, Not Follows
What distinguishes Lee’s leadership is his ability to marry vision with execution. He doesn’t merely respond to market cycles; he reshapes them.
Under his guidance, CLI has embedded ESG (Environmental, Social, and Governance) principles into its investment and operational frameworks. Sustainability is not an afterthought but a core component of decision-making. From promoting green developments to enhancing capital efficiency through asset-light models, Lee has made sustainability a strategic differentiator.
His leadership has earned broad industry recognition. He was named “Outstanding Chief Executive of the Year” by the Singapore Business Awards in 2022 and “Industry Figure of the Year – Asia Pacific” by the PERE Global Awards in 2024. He also received the Business China Young Achiever Award and France’s Chevalier de l’Ordre National du Mérite, highlighting his international credibility and contribution to global business.
Building What’s Next
Despite CLI’s success, Lee remains focused on long-term value creation. “We are still in the midst of building CLI,” he noted, following his PERE win. “With a clear focus on asset-light growth and delivering sustainable returns to our investors, CLI will continue expanding into new markets and sectors while enhancing capital efficiency.”
What he’s building is not just a company—it’s a model. A model of how real estate investment firms can scale without being burdened by heavy capital outlays and how they can innovate across geographies while staying rooted in governance and trust.
