Palatine has successfully exited its investment in Suntera Global, an international provider of bespoke fund administration corporate and private wealth services, in a secondary buyout by US-based Valeas Capital Partners for an undisclosed sum, generating a 2.7x return for investors.
The deal remains subject to regulatory approval.
Since investing in the company in June 2019, Palatine worked closely with Suntera’s management team led by Chief Executive David Hudson, growing revenue to in excess of £70m, delivering strong organic growth, more than doubling the workforce to over 500, alongside significant geographic expansion and completing seven strategic acquisitions.
In April 2025, Suntera completed a multi-million pound refinance of its debt facilities with global investment firm Carlyle’s global credit division.
Acquisitions included Carey Commercial, Nedgroup Trust and Helm Trust Company in the Channel Islands and New Jersey-based fund administration business Socium Fund Services, which provided Suntera its first foothold in the US.
In addition to M&A activity, Suntera has broadened the range of its client service offering, strengthened its international sales function across its global footprint and embedded a new global ERP platform.
The company’s headquarters have also been relocated to Jersey – a recognised international hub for the fund services sector – with a strong administrative base remaining in the Isle of Man, where the business was founded.
Jefferies acted as Sole Financial Adviser to Palatine and Suntera on the company’s sale to Valeas and refinancing with Carlyle. Gateley provided Suntera with legal advice on the sale and King & Spalding provided legal advice on the refinancing with Carlyle. KPMG provided financial due diligence with Oliver Wyman providing commercial due diligence and Waystone providing regulatory diligence. The management team of Suntera were advised by Wyvern and law firm Mischon de Reya.
