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.

Ares Management has secured more than $3bn for its Ares Private Markets Fund, a vehicle tailored to high-net-worth investors seeking access to private equity secondaries, the firm announced on Thursday, according to a report by Bloomberg.

TA Associates is nearing a deal to acquire a substantial stake in Kline Hill Partners, a firm specialising in secondary market investments, according to a report by Bloomberg citing sources familiar with the matter.