LoneTree Capital has added Gerald Castaldo as a partner, expanding the leadership team as the New York-based growth capital firm ramps up investing activity and prepares to launch fundraising for its second fund later this year.
Managing Partner Matt Koven said Castaldo joins at a pivotal point for the firm, which recently completed the final close of its inaugural $200 million vehicle, LoneTree I. Koven said he and Castaldo previously worked together for several years at Bregal Sagemount, where they partnered on multiple technology transactions, and that the reunion strengthens LoneTree’s ability to source investments and support founders as it scales.
Castaldo joins LoneTree from H.I.G. Capital. Before that, he spent eight years at Bregal Sagemount executing technology investments, after beginning his career in the mergers and acquisitions group at Greenhill.
The hire comes as LoneTree enters 2026 with what it described as significant momentum. The firm said it has deployed roughly 70% of LoneTree I across seven platform investments, pointing to strong sourcing velocity and disciplined pacing. LoneTree said its most active year to date included three new platform investments totaling $177 million in aggregate enterprise value, while the team continues to drive portfolio performance initiatives, add-on M&A, and new investments.
With a larger team, a maturing portfolio and expanded infrastructure, LoneTree said it expects to begin fundraising for LoneTree II during 2026.
Founded in 2021 and based in New York City, LoneTree provides flexible growth capital alongside operational and M&A support. The firm focuses on founder-owned bootstrapped businesses, divisions of larger enterprises, and formerly venture-backed companies seeking to accelerate revenue growth and reach their next stage of development with greater certainty.
KEY QUOTES:
“We are thrilled to welcome Gerald to the LoneTree team. Gerald and I first met in 2014 and worked side-by-side on multiple transactions over six years at Bregal Sagemount. Reuniting now at LoneTree strengthens our ability to uncover compelling investment opportunities, support exceptional founders, and continue building a world-class team.”
Matt Koven, Managing Partner, LoneTree Capital
“I’m excited to join Matt again and to partner with the LoneTree team at such an exciting moment in the firm’s development. Matt and I are proud to have helped scale our prior firm to $4 billion in AUM while delivering top decile returns, and I’m energized to bring that experience to LoneTree as we continue building a differentiated growth investment platform.”
Gerald Castaldo, Partner, LoneTree Capital
