Manchester-based Palatine Private Equity secured funding amounting to GBP 150 million, 55% of which were commitments from overseas investors at the close of its second fund.

Palatine, a regional private equity firm, said that GBP 100 million of the financing came from existing investors. The remaining GBP 50 million was shouldered by new investors that include Japan's Nippon Life, US-based GE Pension Trust Fund, a London-based family office and a large German insurance company.

"We are delighted to announce the final closing of our second fund at the hard cap of GBP 150million. Almost 100% of the investors in our first fund reinvested this time around, which is a clear testament to the performance of the first fund during a difficult time for the industry," said Gary Tipper, managing partner at Palatine Private Equity.

"We are also really pleased to have attracted commitments from several new blue-chip investors which has effectively expanded the geographical reach of our investor base," Tipper added.