Palantine Private Equity LLP, a UK regional lower middle market private equity firm, closed its third fund at £220m.
Limited partners include UK, European, North American and Asian public and private pension plans, insurance companies, funds of funds, family offices and high-net worth individuals.
Fund III will continue Palatine’s investment strategy of providing a partner led approach to deals in the UK regional lower middle market.
Founded in 2005, Palatine raised its maiden £100m fund in 2007 investing in XLN Telecom (4.5x return), Air Energi (3x return) and Hallmark Hotels (2x return) and a second fund, which raised £150m in 2013, completing ten investments including the buyout of John Charcol and Towergate Financial Planning, now rebranded as Wren Sterling; the secondary buyout of Character World, the UK’s licensed bedding specialist; the buyout of WHP, a service provider to the mobile telecoms sector, Playnation, Gusto Restaurants, and Chase Templeton.
Led by Gary Tipper, managing partner, Palatine Private Equity is a private equity business with a focus on backing like-minded people in the UK regional lower middle market.
Its portfolio also includes MJ Quinn, Electranet, MoneyPlus Group, Wealth at Work, Selection Services, EPI Group, icelolly.com and Forrest.
FinSMEs
25/06/2015