The Catalytic Fund, a Northern Kentucky-based real estate development financial institution, is undergoing its first leadership transition since its founding in 2008.
Effective July 1, Bernie McKay will become chairman of the board, succeeding founding chair Chuck Scheper. McKay currently serves as president and CEO of the Carol Ann and Ralph V. Haile, Jr. Foundation. Scheper, the CEO of Bexion Pharmaceuticals, will remain on the board.
During Scheper’s tenure, the Catalytic Fund has grown from a startup with no assets into a $30 million organization. Since its launch, the Fund has supported more than 100 real estate projects, generating over $500 million in total investment across Northern Kentucky.
Catalytic Fund President and CEO Jeanne Schroer credited Scheper’s leadership with helping the organization take on complex projects such as Hotel Covington and the Boone Block Lofts in Covington, the Kent Lofts in Bellevue, and the Burton Building in Dayton.
“Chuck Scheper has truly been the visionary behind the Catalytic Fund as an entity and some of its most notable projects,” she said in a news release. “When presented with a good but difficult to execute development opportunity, Chuck’s first response is typically not “why?”, but rather “why not?”
McKay, a Newport resident of 30 years, said he looks forward to supporting continued development throughout the region.
