Moelis Asset Management's Catalyst Partners has completed fundraising for its inaugural GP seeding vehicle, Catalyst Fund I, with $240 million in commitments.
The fund provides anchor investments of $50 million to $100 million at the first close of debut private equity funds targeting buyout and growth equity opportunities across North America and Western Europe.
The fund has committed $175 million to three emerging managers:
Cross Rapids Capital, focused on lower middle-market industrials and services
Verance Capital, which invests in sports, media, and entertainment
NSP Capital, a Michigan-based independent sponsor backing firm founded by former O2 Investment partner Joe Vallee
Catalyst expects to make two additional investments from Fund I before launching a successor fund, which is anticipated in 2027.
Fund I's investor base includes a mix of public pensions, hospital endowments, insurers, family offices and RIAs.
Catalyst aims to serve as a long-term partner, helping LPs establish relationships with emerging managers that extend beyond their first fund.
The strategy builds on managing partner Chris Keller's previous experience co-leading a similar GP seeding platform under the Archean joint venture between Moelis Asset Management and Veritable (now Pathstone).
