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Charterhouse to gain independence from HSBC

Charterhouse Development Corporation is expected to confirm its independence from HSBC within the next month

The private equity group, Charterhouse Development Corporation, is next in line to confirm their independence reports the Financial Times. HSBC acquired Charterhouse last year as part of the deal that saw the private equity firm’s owner, Credit Commercial de France, become part of the banking group.

HSBC already has a substantial private equity operation with HSBC Private Equity so there has always been a good chance that Charterhouse management would seize the opportunity to go independent.

The group already manages a £1.2bn fund and has begun to plan its next fund with the help of Schroder Salomon Smith Barney. Details of size and timing of the new fund have not yet been confirmed.