Strathclyde Pension Fund has agreed to commit £25m to Palatine Private Equity’s fourth flagship investment fund.
The commitment was announced at the pension fund’s latest quarterly committee meeting last week.
The Manchester-headquartered buyout house registered Palatine Private Equity Fund IV in an SEC filing in August last year, with a £300m fundraising goal.
The lower middle market-focused firm hit a £220m hard cap for the Fund III back in 2015, after pulling in £150m for Fund II in 2013 and £100m for its debut fundraise in 2007.
The firm typically invests between £10 and £30m of capital per deal according to its website.
On 31st December 2019, the Scotland-based pension fund’s assets under management stood at £23.7bn.
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