Catalyst MENA Climate Fund 2 (CMCF2) will be building on the top decile track record of CMCF1 and will primarily be investing in North Africa (Egypt, Tunisia, and Morocco, in addition to Jordan). CMCF2 maintains the investment strategy in renewable energy (including energy storage) and energy efficiency projects and platforms, with the addition of water treatment. CMCF1 is fully deployed and 90% exited, and on track to deliver a net IRR in USD of approx.16% (with 15.5% already realized). DPI as of March 2024 is 167%, with a 3.5 year average hold period. The same formula for value creation will be applied for CMCF2. Catalyst is working towards a first closing of at least $70+ million in Q2 2025, on preferential terms, with a cap of $200M. Initial solar PV investments are currently being developed for CMCF2. Co-investments will also be available for initial investors.