Case Study: Suntera Global

Transitioning into a global player

Today, Suntera Global is a leading international provider of fund administration and corporate and trust services.

Backing a visionary leadership team with an entrepreneurial culture and strong fundamentals

Suntera Global (formerly SMP Group) was formed in 1980 and relocated to the Isle of Man in 1997.

At the time of Palatine’s investment, the business had huge potential in both its traditional markets and its emerging service offerings, which the team aimed to expand further. We also saw a significant opportunity for further acquisitions in what was a highly fragmented global market.

We invested £20.6m, and Palatine Partners Andy Lees and Tom Wilding joined the board as Non-Executive Directors.

Going for growth with added value

Geographic expansion

When we invested, Suntera operated in seven jurisdictions, but only the Isle of Man and Cayman had real scale. With our support, the business developed meaningful scale in eight jurisdictions, plus a smaller presence in several others, providing a genuine global offering for its customers.

Strategic acquisitions and service line growth

During our investment period, Suntera completed seven acquisitions across Jersey, the Isle of Man, Hong Kong, Luxembourg, the US and Guernsey, strengthening its international footprint and capabilities.

Through the success of the acquisitions strategy, the business improved the breadth and quality of its service line offering across private clients, corporate services and fund administration. The fund administration division expanded significantly to include established platforms in Luxembourg, the US, Guernsey and Jersey in addition to the Isle of Man and Cayman.

Building a scalable platform

During the course of our investment, we significantly invested in making the platform more scalable. Key improvements included:

• Strengthening the leadership team: Eight senior leaders were hired, alongside more senior individuals joining through acquisition.
• Upgrading systems and data: A global ERP system was installed alongside improved data infrastructure, increasing visibility, collaboration, and efficiency while strengthening performance management and exit readiness.
• Enhancing M&A capability: Suntera established an in-house M&A function, improving its ability to source, execute and integrate acquisitions effectively.

ESG and Sustainability progress

At the outset, Suntera’s ESG focus was predominantly compliance and risk-based; post our investment, it is now embedded in the organisation’s identity. Suntera’s people strategy has advanced significantly, with key focus on training, development and succession planning.

The business also introduced internal carbon accounting and reporting and delivered community initiatives, such as the award-winning “Fill a Fish” programme, which supports recycling and beach clean-ups near its office locations.

The results

During our investment, Suntera transitioned into a global player offering an extensive range of bespoke services to private clients, corporates, and funds. The exit generated a 2.65x return for our investors. In that time, we supported the business in growing revenue to over £70m and more than doubling the workforce to over 500.