Palatine’s head of portfolio Donaldson quits after 18 months

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steve-donaldson_sqHead of portfolio at Palatine Private Equity Steve Donaldson has left the firm after 18 months, a spokesman for the Manchester-headquartered firm confirmed to AltAssets.

Palatine refused to give any further comment beyond confirming his departure.

Donaldson joined Palatine in March 2012 after serving as a finance director of greeting card retailer Card Warehouse Group and of Americana International Group, which owns the Bench and Hooch fashion brands.

At the time of his appointment, Palatine said Donaldson was a key driver in the successful sale of Card Warehouse, which generated a return of 2.5 times for Murray Johnstone.

During his tenure at Americana, the company’s revenues climbed to £80m from £35m.

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