New Catalyst Strategic Partners

New Catalyst launched with affiliates of Apollo serving as a strategic partner. Apollo does not own New Catalyst, but the relationship gives New Catalyst's portfolio managers access to Apollo's operational resources, institutional infrastructure, and distribution networks. The arrangement is designed to provide emerging GPs with institutional support that is typically unavailable to first-through-fifth-vintage funds.

New Catalyst primarily takes minority ownership stakes in the management companies of emerging private-market firms. It seeks economic interests in those firms rather than simply acting as a limited partner. This GP-seeding approach aligns New Catalyst's returns with the long-term value creation of the managers it backs, and distinguishes the firm from a conventional fund-of-funds.

The firm offers GP seeding and acceleration capital, working capital for new launches, growth capital for scaling firms, joint ventures, separately managed accounts, and co-sponsor investments in portfolio company acquisitions. It also helps launch entirely new investment strategies for established teams.

New Catalyst targets private-market firms raising their first through fifth institutional funds, with a minimum fund size of $250 million. This threshold reflects its focus on managers who have already demonstrated institutional-grade performance and realizations, and who are ready to scale with the right strategic support.

Founder and Managing Partner Jason Howard leads the investment process, supported by Managing Director Demetrius Sidberry and a team of portfolio managers and operating partners. The firm states it uses data-driven pattern recognition alongside the team's specialized experience to diligence and select partner firms.

New Catalyst's primary model is taking minority ownership positions in management companies. However, its strategy also includes co-sponsor investments in portfolio company acquisitions, suggesting it can deploy capital directly into deals alongside its partner GPs when the opportunity aligns with its broader seeding relationship.

Through its internal team and the Apollo partnership, New Catalyst provides day-one operational support to its partner firms. This includes dedicated operating partners and advisors with sector-specific expertise, as well as access to institutional infrastructure that helps emerging managers with distribution, compliance, and operational scaling — areas that often constrain first-time funds.