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The investment arm of the Healthcare of Ontario Pension Plan (HOOPP) has made a new investment in the now largest fund owned by growth equity firm Catalyst Investors.

Catalyst is focused on investments in technology-enabled services, including cloud computing, wireless infrastructure and digital media. Catalyst was founded in 2000 and has just announced the final closing of the firm’s third fund, Catalyst Investors III, LP, with total commitments of $213 million—the firm’s largest fund to date.

“We are extremely pleased to partner with a proven, experienced growth equity investor,” said Jeff Wendling, HOOPP’s chief investment officer, equity investments, and managing partner of HOOPP Capital Partners—the private equity arm of HOOPP. “Catalyst has consistently built successful companies and has deep industry knowledge in the sectors it focuses on.”

“The investor base of our earlier funds was comprised primarily of financial institutions—mostly repeat investors with whom we had a long history,” said Brian Rich, co-founder and managing partner of Catalyst Investors. “Due to the Volcker Rule, certain significant investors were restricted from participating in Catalyst Fund III. This successful close is a testament to our ability to attract new institutional investors. We look forward to investing this new fund and helping talented management teams grow their companies.”

Massachusetts Pension Reserves Investment Management is also a new investor in the fund.

© Copyright 2014 Rogers Publishing Ltd. Originally published on benefitscanada.com

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