Palatine Private Equity has bolstered its investment team in the South with the appointment of Tristan Craddock as partner in its Impact Team.Craddock will work alongside partners Beth Houghton and Zoe Clements to identify investment opportunities for Palatine’s Impact Fund, whilst also working with the portfolio to help generate sustainable growth. Craddock will also provide strategic advice to management teams in order to deliver social and/or environmental impact, as well as creating value by improving people strategy, digitisation and ESG management.
Palatine launched its GBP100 million Impact Fund in 2017, becoming the first mid-market private equity house to raise an investment vehicle targeting profitable businesses with a positive impact on the environment or society. The fund invests between GBP2 million and GBP10 million to support management buyouts, growth capital and buy-and-build models, enabling the portfolio to grow and scale its impact.
The Impact Fund has made four investments to date, including e-days, an employee absence management tool; Estio Training, a deliverer of IT apprentieships; Trade Skills 4U, a provider of electrical training courses; and most recently, Veincentre, the UK’s leading clinic in treating varicose veins.
Tristan joins after 12 years at Rutland Partners, the London based private equity house, where he was a Partner. Prior to this, Craddock worked in transaction advisory at EY.
Craddock says: “Palatine has developed an unrivalled track record in the impact investment space. The raise of its Impact Fund in 2017 was a watershed moment, and highlights the dedication that the firm has to making a positive difference to society and the environment with its investments. I’m looking forward to bringing my expertise to the firm and working with the Impact team on new and existing investments.”
Houghton, Partner and Head of Impact at Palatine Private Equity, says: “Impact investing is in the DNA of Palatine, and with the increased focus on the Green Economy as we look to bounce back from the COVID-19 pandemic, we are expecting an explosion in M&A activity in the impact space over the next few years. Tristan’s passion and experience makes him an excellent addition to our growing team as we look to realise these opportunities.”
