Jerry Szilagyi recently did his fifth hedge-fund-to-mutual-fund conversion deal, and the fund has already tripled its AUM.

Jerry Szilagyi Chief Executive Officer Catalyst Capital Advisors LLC

Jerry Szilagyi Chief Executive Officer Catalyst Capital Advisors LLC

Szilagyi, CEO of Catalyst Funds [profile], confirms that at the end of December Catalyst converted Millburn Ridgefield Corporation's hedge fund into the Catalyst/Millburn Hedge Strategy mutual fund. Millburn Ridgefield now serves as subadviser to the fund.

The fund had $39 million in AUM when it converted, and now it has $118 million.

"We have a great sales team," Szilagyi tells MFWire.

Huntington, New York-based Catalyst now has 27 funds and more than $4 billion in AUM. 

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