Palatine hits £220m hard-cap

According to the firm, the fund was oversubscribed - the GP opted not to raise a larger fund in order to continue its focus on the UK regional lower mid-market.

Evercore Private Funds Group acted as placement agent while Kirkland & Ellis provided legal advice.

The new vehicle comes hot on the heels of its predecessor fund, Palatine Private Equity Fund II, which closed on its £150m hard-cap in July 2013 and is now fully invested.

Investors
According to the GP, almost all of Palatine's existing investors committed to the new fund, with the majority increasing their investment size. The vehicle also received investment from five new LPs.

The fund attracted investment from UK, European, US and Asian public and private pension plans, insurance companies, funds-of-funds, family offices and high-net-worth individuals.

Investments
Palatine's third fund will continue the GP's investment strategy of investing in UK regional lower mid-market companies.

People
Gary Tipper is managing partner of Palatine. Richard Anthony is CEO of Evercore's Private Funds Group.

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

• Topics
• Buyout
• UK / Ireland
• Palatine Private Equity