Cato Felán III

Founder and Managing Partner

Cato leads firmwide strategy, product innovation, and investor partnerships in building a new institutional standard for access, alignment, and transparency across asset classes.

Over a 30-year career, Cato has been a pioneer in expanding investor access to global capital markets. He held leadership roles at BlackRock/iShares, Dimensional Fund Advisors, Fidelity, and Putnam, where he helped introduce mutual funds, structured notes, ETFs, separate accounts, and global strategies to Latin American private wealth investors.

At La Hoja, he brings that institutional rigor to private markets, structuring access to private credit, private equity, secondaries, alternatives, and real assets through innovative vehicles including ETNs, offshore feeders, and Mexico-based SOFOMs. Under his leadership, La Hoja has developed a proprietary system for fund structuring, investor onboarding, and automated capital raising, thereby allowing a lean team to deliver a high-touch experience at scale.

Cato earned his degree in Economics from the University of Texas at Austin, where his passion for Latin American markets began. A lifelong athlete, he recovered from a serious cycling injury using plant-derived therapies, deepening his conviction in alternative strategies both as investments and as a mindset.

Rafael Moreno

Managing Partner

Rafael is the Managing Partner of La Hoja México. He is a professional with more than 7 years of experience in investment banking, mergers and acquisitions, consulting, and investor relations with both public and private stakeholders. He has led transactions in Mexico and South America, as well as large-scale strategic projects, building a solid track record in value creation and effective investment management.

Rafael began his career at BBVA in the Investment Banking division, specifically managing debt-market transactions totaling up to USD $4.0 billion in both the Mexican and international markets across various products, including syndicated loans, bond issuances, and project finance.

He also has experience in mergers and acquisitions, where for three years he contributed to the passive telecom infrastructure market in Mexico and helped position his company as the number one private operator in the country.

Further complementing his development, he held a role as a financial consultant in South America, assisting international public and private companies with their liquidity, financing, and growth needs—both organic and inorganic. This provided him with a broader global perspective in his decision-making and enabled him to build strong alliances across Latin America.

He holds a Bachelor’s degree in Financial Management from Tecnológico de Monterrey and a Master’s degree in Finance from EGADE Business School.