Catalyst Investment Partners, a NY-based industrial outdoor storage (IOS)-focused investment manager, has held the final close of its oversubscribed sophomore fund, Catalyst IOS Fund II, with $186.9 million in LP commitments, surpassing its $150 million target.  

The fund focuses on densely populated, infill industrial markets with high barriers to entry. The fresh capital grows the firm’s portfolio to more than $500 million in gross asset value. 

“Investor interest in IOS is strong and growing, and we are excited to add several new institutional investors into this fund series,” said Dan Haroun, co-founder and partner at Catalyst. “We are grateful to our new and existing LPs for their trust and support.” 

The fund received institutional interest from domestic and international investors, including several new institutional backers. Investors include endowments, foundations, wealth managers, family offices, and high-net-worth individuals. 

Earlier this week, Catalyst announced the addition of five IOS professionals, including Drew Miles, leasing manager; Agatha Wojcik, controller; Nell Hurley, associate; Noah Goldstein, analyst and Von Hobe, analyst.  

“The firm’s sizeable headcount relative to fund size allows for a focus on smaller individual transactions in higher barrier to entry, supply constrained markets with outsized rent growth potential,” the firm said. 

Founded in 2021 by Haroun and Max Heiden, the firm owns or controls over 50 IOS sites across the Eastern U.S. 

Incubation Capital acted as placement agent for the raise. Jonathan Glick and William Edge led distribution and marketing on behalf of Incucap. 

Pictured: Catalyst property at 2600 Louisville Rd., Savannah, GA