We present the first population balance calculations which encompass the complete molecular weight distribution (MWD) to discuss the implications of both radical and catalytic chain transfer agent (CCTA) compartmentalization in a catalytic chain transfer (CCT) mediated emulsion polymerization system. Compartmentalization effects are attributed to reduced frequencies of entry and exit of the CCTA (bis[(difluoroboryl)dimethylglyoximato]cobalt(II) or COBF). Two limiting scenarios were identified. In instances of fast CCTA entry and exit, monomodal MWDs are obtained governed by a global CCTA concentration. In instances of slow entry and exit, bimodal MWDs are obtained; one peak can be attributed to the generation of a bimolecular termination product produced in polymer particles devoid of CCTA, while a transfer-derived peak can be attributed to polymer particles containing one or more CCTA molecules. We present theoretical evidence that experimentally observed multimodal MWDs (Macromolecules 2009, 42, 7332−7341) originate from a reduced mobility of the CCTA and that when viscosity is high in the polymer particles, compartmentalization of the CCTA becomes important.