Charterhouse bolsters top team – Exclusive

The UK-headquartered firm has hired three people and promoted one as it deploys the €2.3bn Charterhouse Capital Partners X.

UK-headquartered Charterhouse Capital partners has boosted its investor relations and deal teams with three new hires and a promotion, Private Equity International has learned.

In the deal team, investment manager Dario Garcia has been promoted to partner, while Haitham Nasri is joining as an investment manager. Meanwhile, Gilles Collombin joins as partner and head of investor relations and Paul Brown as investor relations manager, according to a source with knowledge of the matter.

Charterhouse declined to comment on the appointments.

Garcia joined Charterhouse in 2011 from RBS Equity Finance, where he spent four years investing in healthcare, business services and financial services companies. Nasri will join the firm in September from McKinsey’s Paris office.

Collombin spent almost 20 years at HSBC, most recently as global head of financial sponsors, sovereign wealth funds and institutional private clients. He advised Charterhouse over several years, working on several acquisitions, including Elior, Epolia and Wood MacKenzie, and several sales, including Bureau Van Dijk and DOC Generici.

Brown joins from fellow UK-headquartered firm Bridgepoint, where he was a member of the investor relations team.

Meanwhile, Charterhouse investor relations director Lynsey Register will leave the firm at the end of July to join Brazilian alternative investments manager Patria Investments.

The appointments come as Charterhouse continues to deploy its tenth fund, which closed below target on €2.3 billion in November 2016, as reported by PEI.

Charterhouse Capital Partners X, which officially began marketing in January 2015 and had an initial target of €3 billion, held an initial close on €1 billion in May 2015 and a first close on €1.5 billion in September 2015.

Charterhouse has made four investments from the fund: French pharmaceutical company Cooper, acquired from French investment company Caravelle in a deal valuing the business at around €700 million; French technology company Sagemcom, acquired from the Carlyle Group; MEC3, an Italy-based manufacturer and exporter of gelato and pastry ingredients, acquired in a deal understood to value the business at between €350 million and €400 million; and European specialty pharmaceutical group Serb Laboratories.

Its predecessor, the €4 billion Charterhouse Capital Partners IX, a 2009-vintage vehicle, has made eight exits to date, generating an average realised return of more than 3x, PEI understands. It invested in 13 portfolio companies.

As of March 2017, Fund IX was delivering a 1.5x net return and a net internal rate of return of 16 percent, according to the source.