Catal Group Hires Avison Young’s Trisha Connolly-Horowitz to Run New Debt Fund

Catal Group, a family office launched in 2015, has hired commercial real estate capital markets veteran Trisha Connolly-Horowitz to run the firm’s first debt fund, Commercial Observer can first report.

Connolly-Horowitz, who was most recently chief operating officer of U.S. capital markets at Avison Young, began her new role leading the newly established fund called Catal Capital on Sept. 3. She arrived at New York City-based Catal eight years after underwriting the first deal for its Vista Property Group CRE development arm in 2016. 

“I presented a business plan to Catal Group and said let’s create a debt fund arm,” said Connolly-Horowitz, whose title is managing director, head of real estate lending. “They had previously talked about doing something like this in the last two years, and needed someone to come and spearhead it, although I didn’t know that until I presented this opportunity to them.” 

The Catal Capital debt fund will target loans in the $10 million to $100 million range in all asset classes across the country. Connolly-Horowitz said there is plenty of dry powder to execute deals through the end of the year, and there are a few mezzanine loans already in the works. 

Connolly-Horowitz is leading a seven-person underwriting and asset management team for the debt fund and will utilize third-party servicing. She said it is an opportune time to launch a debt fund focused around the middle market in the current higher interest rate environment.

“A lot of people are straying away from the middle market deals because it’s as much effort to do a $200 million deal as it is to do a $12 million deal,” she said. “There’s a huge niche for middle-market opportunities.”

Prior to her COO role at Avison Young, Connolly-Horowitz held capital market roles at brokerage firms Ackman-Ziff, B6 Real Estate Advisors and Cushman & Wakefield. She was also a managing principal at CRE investment banking firm Alpha Capital CRE.

“Catal is pleased to introduce the launch of this fund under its global brand,” said Saul Sutton, managing partner at Catal Group. “After 15 years of successfully engaging in debt strategies, we are excited to formalize this approach with Trisha Connolly spearheading this initiative.”

Andrew Coen can be reached at acorn@commercialobserver.com