Palatine

Investment decisions are made by the partnership group, led by Managing Partner Gary Tipper and partners Tony Dickin and Andy Lees. The three co-founders remain active in deal origination and portfolio oversight. No external investment committee sits above the partnership.

Palatine's Manchester headquarters positions the firm outside the London auction circuit, giving it early visibility on regional management teams and founder-owned businesses in the North of England and the Midlands. The firm also runs a sector-specialist model where partners build long-term relationships within healthcare, business services, and technology-enabled services to generate off-market opportunities before intermediaries become involved.

The flagship Buyout fund targets majority and significant minority positions in established UK companies with enterprise values between £20 million and £100 million. The Impact Fund follows the same stage profile but adds a sustainability underwrite. The newer Growth Credit strategy, launched in 2024, targets lower-middle-market debt financings for founder-led businesses that may not be ready for a control sale.

Palatine operates as a direct investor, writing equity and credit instruments into portfolio companies it selects and negotiates directly. The firm does not operate as a fund-of-funds and does not allocate to external private equity managers. Limited partner capital is pooled into Palatine's own fund vehicles.

Palatine is a traditional mid-market private equity firm raising capital from institutional limited partners, including UK pension funds, endowments, and global asset managers. It is not a family office. The partnership team has no disclosed family wealth backing the management company.

The Palatine Impact Fund operates as a separate legal vehicle with a distinct investment committee and an impact advisory board that reviews each investment against UN Sustainable Development Goal metrics before commitment. Fundraising is handled independently — Impact Fund II closed at £160 million in November 2024, separate from the concurrent flagship fundraise. Portfolio companies sit in segregated SPVs with their own impact reporting lines.

Palatine does not invest in resource extraction, tobacco, armaments, or gambling. These exclusions apply both to the Buyout funds under the firm's responsible investment policy and to the Impact Fund under its formal sustainability criteria. The firm has also publicly stated it avoids high-carbon industrials where no credible transition plan exists.