Key Takeaways
- • Jason Howard, founder of New Catalyst Strategic Partners, launched the firm in January 2024 after running GCM Grosvenor's diverse manager private equity platform, with backing from Apollo.
- • New Catalyst invests in and supports the growth of emerging managers and independent sponsors.
- • Longer private equity hold periods and slow distributions are pushing LPs toward emerging managers seeking outperformance and prompting top performers to consider spinning out of established firms.
- • The episode, part of Private Equity Wire's Alternative Views series, covers GP spinout motivations, first-time fund outperformance, barriers facing emerging managers, success characteristics, and New Catalyst's current portfolio.
Summary
Jason Howard, founder of New Catalyst Strategic Partners, joined Private Equity Wire's Alternative Views series to discuss emerging managers and independent sponsors. Howard launched New Catalyst in January 2024 after leading GCM Grosvenor's diverse manager private equity platform. The firm invests in and supports the growth of emerging managers and is backed by Apollo.
The discussion centers on a shift in private markets capital flows. According to the episode introduction, longer hold periods across private equity are pushing limited partners toward emerging managers in search of outperformance. At the same time, slow distributions are leading some top-performing investment professionals to question whether they can achieve better results by spinning out of established firms rather than remaining within them.
The conversation covers several themes: the motivations for general partners who choose to spin out, levels of outperformance in first-time funds, the barriers emerging managers face, the characteristics that drive their success, and New Catalyst's current portfolio. The source is a podcast episode, and the full discussion details on these topics are not reflected in the published description, so specific figures on fund performance or portfolio holdings are not available from this source.
The discussion centers on a shift in private markets capital flows. According to the episode introduction, longer hold periods across private equity are pushing limited partners toward emerging managers in search of outperformance. At the same time, slow distributions are leading some top-performing investment professionals to question whether they can achieve better results by spinning out of established firms rather than remaining within them.
The conversation covers several themes: the motivations for general partners who choose to spin out, levels of outperformance in first-time funds, the barriers emerging managers face, the characteristics that drive their success, and New Catalyst's current portfolio. The source is a podcast episode, and the full discussion details on these topics are not reflected in the published description, so specific figures on fund performance or portfolio holdings are not available from this source.
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