UK-based private equity firm Charterhouse Capital Partners is reportedly considering a 12 month extension to the investment period of its €4bn ninth fund.
Charterhouse told investors at a recent conference that it required an extension as it had only deployed 55 to 60 per cent of the Charterhouse Capital Partners IX fund, said the Financial News, citing two people familiar with the situation.
The potential fund extension, which will become necessary if the firm fails to invest the rest of the capital by March next year, could delay the launch of its next vehicle, said one investor.
The vehicle began investing after holding its first close in October 2008 and was closed in March of the following year.
The firm’s funds are in good shape and investment period extensions are common for funds raised during the peak of the financial crisis in 2008 and 2009, added the source.
Charterhouse is likely to request an extension later this year to secure more time to make more investments.
The firm has recently acquired Italian pharmaceutical business Doc Generici for €330m.
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