Catalyst promotes Clapp to GP

The New York-based growth investor has promoted veteran associate Todd Clapp to general partner ahead of a $400m fundraise. Catalyst also recently hired the former head of Citi's distressed equity trading group Gene Wolfson.

Private equity firm Catalyst Investors has named Todd Clapp as general partner. Clapp has been with the firm as an associate since 2004.

Clapp is responsible for investment opportunities in the internet infrastructure, online media, business services and communications sectors.

He manages Catalyst’s investment in data centre company Managed Data Holdings and co-manages the firm’s investments in extranet and other data hosting company Catalyst Repository Systems and wireless systems company Denali Spectrum Manager.

Before joining Catalyst, Clapp was at financial service-focused private equity firm Lightyear Capital and previously worked in the principal transactions group of UBS Paine Webber.

In September, Catalyst hired former Citigroup executive Gene Wolfson, who most recently led Citi's distressed equity trading group, to help grow the firm’s joint venture and co-investment activities.

Media-focused Catalyst, founded in 2000, plans to launch its third fund in 2009 targeting between $300 million to $400 million. Catalyst’s second fund closed in 2007 on $170 million, short of its initial $250 million target.