Distressed investor The Catalyst Capital Group has held a final close of its latest fund, Catalyst Fund Limited Partnership V (Fund V), with just over US$1.5 billion (C$2.0 billion) in capital commitments. This mark surpasses Fund V’s target of US$1.25 billion and its hard cap of US$1.5 billion.
Investors in the new fund include public and corporate pensions, university endowments, foundations, family offices, and financial institutions. “We are deeply gratified by the confidence in Catalyst demonstrated by our limited partners,” said Newton Glassman, Managing Partner of Catalyst. “Fund V took less than six months of active marketing, and was oversubscribed like all our prior funds, which highlights the performance of the Catalyst team, and the benefits to investors of our unique structure.”
Catalyst is Canada’s second-largest private equity firm (second to Onex) and specializes in control and influence investments in distressed and under-valued Canadian situations. The firm was founded in 2002 and has raised four funds (and two parallel funds) with over US$2.8 billion in capital commitments from university endowments, charitable foundations, pension plans, family offices and financial institutions located across the US, Europe, Canada and Asia. Catalyst is headquartered in Toronto (www.catcapital.com).
Since 2002, Catalyst has generated strong returns with more than 90% of its capital deployed in senior secured debt and, aside from a single trading loss in its second fund, has not experienced a loss of principal capital in the last ten years. The Catalyst team collectively possesses more than 110 years of experience in restructuring, credit markets and merchant and investment banking in both Canada and the United States.
Catalyst is affiliated with Callidus Capital Corporation (TSX: CBL), a Canadian company that specializes in providing financing to companies that are unable to obtain adequate financing from conventional sources. “We expect Callidus to follow the same path of success that Catalyst has experienced since its inception in 2002,” said Mr. Glassman. “Callidus is fundamental to Catalyst’s long-term strategy.”
AtlanticPacific Capital was the placement agent for Fund V. Atlantic-Pacific Capital has raised over $60 billion for alternative asset managers seeking private capital. The firm was founded in 1995 and has offices in New York, Greenwich, Chicago, San Francisco, London, and Hong Kong (www.apcap.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 10-14-15