We present a study on CoCr–MCM-41 catalysts with stable nm-sized particles. The focus is their promoting effect on the synthesis of Single-Wall Carbon Nanotubes (SWNT). Bimetallic CoCr–MCM-41 catalysts were synthesized by combined grafting and incorporation of metals in the framework. This synthesis allowed an increase in the maximum metal loading in the MCM-41 framework while maintaining nm-sized Co particles stable in high-temperature reactive environments. The SWNT yield was increased by more than 100% from the Co–MCM-41 catalyst. Cobalt is responsible for SWNT nucleation. The role of chromium is to anchor small cobalt particles during reduction and prevent their sintering into large unreactive particles. A larger fraction of the cobalt in the bimetallic catalysts becomes available for the SWNT synthesis when compared to the monometallic one, leading to a significant yield increase. Another effect of the addition of Cr was a shift of the SWNT diameter distribution to smaller nanotubes.