Financial services firm Catalyst announced a significant growth investment from private investment specialist Aquiline.
Catalyst offers fund administration, corporate services and client accounting services by leveraging state-of-the-art technology. The firm has grown to support a portfolio of more than 700 entities registered in the U.S., the Cayman Islands and Bahamas, with a combined AUA of over $13 billion and annual revenues exceeding $14 million.
Catalyst said in a press release its solutions employ sophisticated robotic process automation, artificial intelligence and client-facing applications to streamline operations, increase efficiency and deliver robust and dynamic reporting solutions for clients with a variety of onshore and offshore financial structures.
Benji Reid, co-founder and co-managing partner said: “Since Catalyst’s inception, we have always prided ourselves on being a boutique firm, founded by investors who truly understood our vision to always look to innovate and in doing so, to question the status quo. The last four years have been incredible for us as an organisation, and we vastly exceeded all our growth targets.”
Reid said he initially underestimated the capital requirements and stresses that come with extreme growth and the importance of securing growth capital ahead of the curve.
“Recognising this challenge, a year ago, we set about searching for a new (capital) partner to assist us in continuing our vision. After a lot of ‘blind dates’ we were introduced to the team at Aquiline. The experience of working with them has been nothing short of incredible. Their way of working coupled with their view on growth aligns perfectly with ours and I couldn’t be prouder and more excited about the investment in Catalyst,” he added.
Aquiline’s investment, which is subject to Cayman Islands Monetary Authority approval, will act as a catalyst for growth as the firm plans to deliver the next generation of its technological capabilities to better service customer demands and adapt to the market environment. The capital injection will further allow the firm to scale its business, invest in its people and expand its market reach, Catalyst said.
Tim Gravely, partner and head of credit at Aquiline said: “We are thrilled to partner with Catalyst as they continue to redefine financial services through technology and client-centric innovation. Their dedication to leveraging advanced automation and AI while maintaining exceptional client service sets them apart in the industry. We look forward to supporting their next phase of expansion and helping them achieve even greater success in the market.”
Harney Westwood & Riegels LLP, Mourant Ozannes (Cayman) LLP and Seward & Kissel LLP are serving as legal advisers to Catalyst.
