Apollo-Backed Firm Fueling PE Shops Partners With Ironleaf (1)

Apollo Global Management Inc.-backed New Catalyst Strategic Partners has entered into a strategic partnership with Ironleaf Capital, a new private equity firm focused on technology and health care.

Ironleaf is the first investment for Washington-based New Catalyst, which was set up last year to back and finance buyout firms raising third, fourth or fifth iterations of their flagship strategies as well as new managers, according to managing partner Jason Howard. New Catalyst will also back other private-market managers, Howard said.

Raising money for private equity funds has been a struggle for the industry amid a protracted dealmaking slump, complicating ...