Coulthard to step down at Charterhouse – Exclusive

The firm has bolstered its team through two hires from Blackstone and KKR Capstone.

Charterhouse Capital Partners will lose long-standing partner Graeme Coulthard at the end of the year, Private Equity International has learned.

Coulthard, who joined Charterhouse in 1997, has decided to retire, according to a source with knowledge of the matter. 

It is understood that Coulthard does not have any current portfolio responsibilities.

Partner Arthur Mornington, who joined Charterhouse in 2006, will also be leaving the firm. It is understood that he is leaving to join Oakley Capital Private Equity, and will be relocating abroad.

Charterhouse declined to comment.

The firm is bolstering its team through two new hires, who will join the firm in April, it is understood.

Alain Vourch joins as partner after close to 12 years at KKR Capstone, where he was managing director and co-head of its European activities. Vourch will be a member of the investment team, but will predominantly focus on working closely with portfolio companies.

Max Steinebach joins as an investment manager from Blackstone, where he was an analyst in the private equity team in London.

Additionally, Sheena Pattni, who joined the firm in 2014 from Perella Weinberg, has moved from her position as investor relations manager to join the investment team as an investment manager.

These hires and departures follow the appointments of one new partner, Mark Tentori, and two investment managers, Martino Gobbi and William Trevelyan Thomas, during 2016.

Charterhouse held a final close on its tenth fund below its initial €3 billion target on €2.3 billion in November 2016, as reported by PEI. The fund officially began marketing in January 2015, held an initial close on €1 billion in May 2015 and a first close on €1.5 billion in September 2015.

Investors in Fund X include the Massachusetts Pension Reserves Investment Management Board, the Virginia Retirement System, the Maine Public Employees Retirement System, the Public Employees Retirement Association of New Mexico, and the Washington State Investment Board according to PEI data.

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