Catalyst Principal Partners has completed a first close of its successor private equity fund, Catalyst Fund II LP (“Fund II”) at $103 million.
Fund II is targeting $175 million of funds under management and expects to hold a final close later in the year. Fund II will maintain Catalyst’s successful East African investment strategy focused on mid-market growth capital investments, backing dynamic entrepreneurs and managers within fast-growth consumer demand-driven sectors across Eastern Africa.
Catalyst Fund II is supported by a diverse group of leading global investors, including funds of funds, development finance institutions and family offices.
Paul Kavuma, CEO of Catalyst, commented: “Catalyst has demonstrated its ability to source proprietary deals and actively manage its investments, and has built a diversified regional portfolio of leading products and brands that are dominant within their respective markets and consumer segments, with a focus on increasingly aspirational mass market and middle income consumers.”
Kavuma added: “We are gratified by the strong support Catalyst continues to receive from regional and international institutional investors seeking exposure to attractive investment opportunities within a growing, increasingly integrated region in which Catalyst has played a pioneering role in the development of the private equity asset class.”