Palatine has exited retirement advisor My Pension Expert.
The mid-market private equity investor made the original investment into the Doncaster firm from its fourth Buyout Fund and first Impact Fund. The exit has generated a circa 5x return for investors.
The team supported My Pension Expert through a four-year period of strong organic growth – achieved following significant investment in people, technology, data and AI – and supplemented with strategic M&A.
Palatine’s in-house sustainability team also worked closely with management on My Pension Expert’s successful B Corp application.
My Pension Expert is dedicated to addressing the UK’s persistent ‘advice gap’ by providing regulated, individualised retirement advice to mass-market consumers in the UK.
The firm has delivered more than 40% organic revenue growth since 2023 and today serves approximately 20,000 clients with around £2 billion of assets under administration.
Leveraging its experience in financial services Palatine supported My Pension Expert with two strategic acquisitions and a further six client book acquisitions as the business scaled.
It also supported a significant technology investment project to enhance the customer experience and drive efficiency through the business, enabling My Pension Expert to service 10,000 more customers, supporting financial inclusion.
Following Palatine’s exit My Pension Expert will move to the next stage with Valeas Capital Partners as its new partner.
“Palatine have been brilliant partners for My Pension Expert, and I’m incredibly proud of what we have achieved,” said Andrew Megson, founder and CEO of My Pension Expert.
“We’re excited to partner with Valeas as we enter the next phase of our growth journey and strengthen our mission to provide regulated financial guidance to people the market has historically overlooked.
“Their investment and expertise will give us the flexibility to continue building the business, accelerate innovation, and expand our reach. I’m excited about what we can achieve together.”
Kieran Lawton, who led the investment for Palatine, added: “Andrew and his team have done an outstanding job over the past four years growing the business and helping it reach its full potential.
“We’ve thoroughly enjoyed supporting the Group which is on track to become one of the UK’s most highly trusted and fastest-growing pensions advisory businesses.”
Beth Houghton, partner and head of Palatine’s Impact Fund, added: “As an investor who sees private equity as a force for good in society we have been thrilled to see My Pension Expert making such great progress on its mission to support financial inclusion as it added thousands of customers while also investing in its own team, which has doubled to 130 over the last four years.
“As a B Corporation company ourselves, we were also delighted to support My Pension Expert through their successful B-Corporation assessment process.”
Rob Little, co-founder & managing partner at Valeas Capital Partners, added: “We are thrilled to be partnering with an exceptional founder like Andrew, whose vision and approach to closing the advice gap in UK pensions resonates deeply with us.
“My Pension Expert has built a proven model for delivering regulated, individualised advice, ensuring more people have access to the guidance they need at the most important financial moment of their lives.”
The deal is expected to be completed later this year pending approval from the Financial Conduct Authority. My Pension Expert was advised by Ardea Partners International LLP and Valeas Capital Partners was advised by Hines Associates.
Palatine was advised by law firm Gateley, Deloitte (vendor financial and tech due diligence), LEK (vendor commercial due diligence) and Thistle (regulatory due diligence).
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