Charterhouse Raising Up To $600 Million for New Fund

Charterhouse Group is looking to raise between $500 million and $600 million for its fifth fund, peHUB has learned. Multiple sources confirm the news, although there is some disagreement over whether the firm is best described as “marketing” or “pre-marketing” (all depends on if there’s a PPM out there).

New York-based Charterhouse, a middle-market buyout shop, focuses on consumer, healthcare and business services. It typically invests about $30 million to $60 million equity per transaction.

The firm raised $450 million for its fourth fund in 2004. Most of the fund is now invested, with 12 current platform companies and 30 add-ons. It also has experienced several exits: Two came in 2007, and Amerifit Brands was sold earlier this year. Earlier today, Charterhouse announced it was selling NewPath Networks Inc. to Crown Castle International for $115 million.

News of the Charterhouse fundraising was first reported by Private Equity Insider. Officials for Charterhouse declined comment.