We are a private equity investment firm that focuses exclusively in Real Estate Investments, mainly within the Asia Pacific Region.

Our core focus is a natural fit to our team’s experience and track record. With over 50 years of collective experience in the real estate industry, our team adopts a rigorous process in investment decision-making.

Our brandings typifies the corporate culture at Lucrum Capital.

The word, “Lucrum”, is derived from a Latin word with equal definition to the English word, “Lucrative”.

The colour green, used in our logos, symbolizes life and growth.

We typify these virtues by providing our investors with potential growth opportunities via profitable returns through acquisitions and sound management advice.

David Batchelor
With more than 12 years in the real estate industry, David is a founding Partner and is the Director overseeing Investments and Client Relationships for the firm.

Prior to Lucrum Capital, Mr. Batchelor was a Director at Jones Lang LaSalle (JLL), Singapore Investments Team. In his 5 years at JLL, Mr. Batchelor was part of the Investments team that concluded more than S$5 billion worth of Investment deals earning the team an Outstanding Business Results Award along the way. As part of the team, David provided expertise in structuring deals and financial analysis to private investors, developers and funds.

Mr. Batchelor also headed the Good Class Bungalow (GCB) Unit that caters to GCBs owners and buyers, who are ultra-high net worth individuals. He was also the official spokesperson on GCBs for Jones Lang LaSalle (JLL).

Before joining Jones Lang LaSalle (JLL), Mr. Batchelor was a professional valuer at DBSLand (now known as CapitaLand).

David holds a Bachelor of Science with honours Degree in Valuation and Estate Management and is a Licensed Appraiser for Lands and Buildings.
Wee Sing An
With more than 12 years of real estate industry experience spanning across property taxation, valuation and investment sales and advisory. Mr. Wee is a founding Partner and Director that oversees Compliance and Investments for the firm.

Prior to Lucrum Capital, Mr. Wee was a Director at Credo Real Estate and was part of the team instrumental for the collective sale of Farrer Court at S$1.3388 billion in 2007. This is in addition to being involved in notable collective sale sites such as Park View Condominium in 2003 and Maryland Point in 2004 whilst with Knight Frank Investment Sale Team. During his stint in the Investment arena, Mr. Wee has been involved with more than S$1.5 billion worth of Transactions.

Mr. Wee holds a Bachelor of Science with honours Degree in Real Estate Management and is also a Licensed Appraiser of Lands and Buildings.
Norman Winata
With more than 12 years of experience in Commercial, Industrial and Residential property investments. Mr. Winata is a founding Partner of Lucrum Capital and is responsible for the Investment and Client Relationships for the firm.

Combining his strengths in finance with his experience in investment sales and property management, he co-founded The Sail Investment Pte Ltd, a property investment and holding company specialising in the investment and management of prime residential properties such as The Sail located at Marina Boulevard, Singapore.

In 2003, he co-founded PT Batanghari Propertindo, a property investment firm in Sumatra, Indonesia and was instrumental in the development of the largest mall in Jambi, Indonesia.

Mr. Winata holds a Bachelor of Business Administration Degree, with a specialisation in Finance and Marketing, from Simon Fraser University, Canada.
Kareen Kan
Ms. Kan is a Partner and Director of Lucrum Capital. She oversees the administrative and operational aspects of the firm

Prior to founding Lucrum Capital, Ms. Kan was an independent adviser to a privately-owned property investment company where she actively participated in managing the property portfolio as well as advising the investment team for assets acquisition and disposal activities.

Prior to this, Ms. Kan did a short stint in Knight Frank Singapore focusing mainly in marketing and consultancy activities for the Retail Market.

In 2004, she was with Standard Chartered Bank as a Management Trainee, where she was with the Wholesale Banking Department, providing Transaction Banking and Financial Market Services to the Corporate and Institutional Clients.

Ms. Kan holds a Bachelor of Business Administration Degree, with a specialisation in Finance and Marketing, from Simon Fraser University, Canada, a Diploma in Compliance from International Compliance Association, UK and a Certificate in Fund Administration from Nanyang Polytechnic, School of Business Management.
Leonard Tan


Leonard Tan has a successful career as a senior private banker of more than 20 years with several leading international financial institutions. He has deep knowledge serving ultra high net worth Asian clients in direct asset allocation, advisory investments in global financial markets, multi-asset class portfolio management and inter-generational assets transfer programmes.

Leonard was very successful in obtaining and closing large corporate finance & structured finance mandates with some of the large business groups in South Asia. He accomplished this by leveraging on the Investment Banking platforms of Morgan Stanley. He worked closely with Investment Bankers obtaining and closing fund raising mandates in the Debt Capital markets and Equity Capital Markets with large asian corporations. While in Amex Bank, he was awarded "The Great Achiever Award" in 2000. In 2007, he was awarded in Macau/China for executing "The Single Largest Business Ticket" by Morgan Stanley for successfully obtaining the mandate and closing the largest structured finance deal of the year.

His breadth and deep experience with the financial markets, skills in deal structuring and ultra high net worth investors’ contacts, would provide invaluable insight, diversity and further expands the talents of LUCRUM’s core management team. He has a Bachelor of Science - major in Economics and Mathematics - from National University of Singapore.