Palatine closes second fund on £150m

The new fund follows Palatine's maiden vehicle, which closed on £100m in 2007. The previous fund made nine investments, two of which have been exited – XLN Telecom in 2010, which delivered a 4.5x return, and Air Energi in 2012, which generated a 3x return.

Investments
The vehicle will make equity investments between £10-25m in regional lower mid-market deals.

The new fund has already made two investments; the management buyout of Playnation and an investment in medical insurance business Chase Templeton.

Investors
The fund received £100m from existing investors, while £50m came from new investors. New investors include GE Pension Trust in the US, Nippon Life in Japan, a Germany-based insurance company and a family office based in London. Over half of the commitments (55%) came from overseas investors.

People
Palatine is led by partners Gary Tipper, Ed Fazakerely and Tony Dicken – who all founded the business in 2005 – as well as partner Andy Lees, who joined earlier this year.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Fundraising
• Buyout
• UK / Ireland
• Palatine Private Equity
• United Kingdom