Updated:
Catalyst Investment Managers
Catalyst Investment Managers, the Sydney-based PE firm led by John Story and Trent Peterson, executes mid-market buyouts and P2Ps in ANZ.
Catalyst Investment Managers
Catalyst Investment Managers was founded in 2008 by John Story and Trent Peterson, two Australian dealmakers who built the firm around control-oriented private equity in the sub-A$200 million enterprise value segment. Story previously held senior roles at Macquarie Group and went on to chair ASX-listed companies including the refiner Viva Energy Group, bringing public-company governance norms into Catalyst's portfolio oversight. The firm raises capital on a deal-by-deal basis rather than through a blind-pool fund, a structure that gives limited partners explicit approval rights over each acquisition. The firm targets buyouts, public-to-private transactions, and complex restructurings in the industrial, business-services, and specialty-manufacturing sectors. Catalyst looks for founder-operated companies approaching succession transitions, under-performing corporate carve-outs, and listed small-caps trading below intrinsic value. Its approach combines operational restructuring with management buy-in hires, installing experienced executives into portfolio companies to drive turnaround cycles that typically span three to five years. Past transactions have concentrated in Australia and New Zealand, with the firm occasionally evaluating cross-border Australasian opportunities. Catalyst Investment Managers operates a lean team structure consistent with its deal-by-deal capital model, drawing on a network of operating partners and sector specialists assembled around each transaction. In September 2023, the firm completed the acquisition of a controlling stake in an Australian industrial-services business through a privately negotiated off-market transaction. The principals maintain a deliberately low public profile, though Story's ongoing governance roles at ASX 200 companies — including his chairmanship of Viva Energy Group — provide the firm with boardroom visibility that feeds its sourcing pipeline. The firm's defining structural feature is its deal-by-deal capital-raising model, unusual in Australian private equity where committed blind-pool funds dominate. This architecture aligns Catalyst more closely with independent-sponsor and family-office investment syndicates than with traditional fund managers, giving the principals flexibility to pursue transactions that do not fit standard fund mandates while limiting the asset-gathering pressures that drive AUM-focused firms toward larger, more competitive auctions.
General information
Firm type
Private Equity
Year founded
2008
AUM
Undisclosed
Location
Region
Oceania
Country
Australia
City
Sydney
Corporate office
Sydney, NSW, Australia
Principals
John Story
Managing Director
Trent Peterson
Managing Director
Sector focus
Frequently asked questions
Who runs investment decisions at Catalyst Investment Managers?
The two managing directors, John Story and Trent Peterson, jointly make investment decisions. Story brings public-company governance experience from chairing ASX-listed Viva Energy Group, while Peterson's background covers private equity execution across the Australian mid-market. The firm operates without a formal investment committee beyond the two principals.
How does Catalyst Investment Managers raise capital?
Catalyst raises capital on a deal-by-deal basis rather than through a committed blind-pool fund. Limited partners are presented with individual transaction opportunities and decide whether to participate. This structure gives co-investors approval rights over each acquisition and typically draws capital from Australian family offices and high-net-worth investors.
What types of transactions does Catalyst target?
The firm focuses on control buyouts, public-to-private transactions, and complex restructurings in the sub-A$200 million enterprise-value range. Catalyst looks for founder-operated businesses facing succession events, under-performing corporate carve-outs from larger groups, and ASX-listed small-caps trading at discounts to intrinsic value where a take-private and operational reset can unlock value.
Is Catalyst a single-family office or a fund manager?
Catalyst is a private equity firm, not a family office. However, its deal-by-deal capital-raising model gives it a structural resemblance to independent sponsors and family-office syndicates rather than traditional blind-pool fund managers. No single family provides the majority of its capital.
What is John Story's background outside of Catalyst?
John Story is a prominent figure in Australian corporate governance. He previously held roles at Macquarie Group and has chaired multiple ASX-listed companies, most notably Viva Energy Group, the owner of the Geelong oil refinery and a national fuel-retailing network. His boardroom roles give Catalyst visibility into public-company dynamics that informs the firm's public-to-private strategy.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on private equity firms?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: