Charterhouse Capital Partners has raised approximately €1bn at the first close of its latest flagship fund, CCP XII, according to sources close to the matter cited by Bloomberg.

The firm is targeting €1.5bn, or approximately $1.65bn, for the vehicle, with final close expected in the coming months.

The previous fund, CCP XI, closed at €1.4bn in 2023. Since then, Charterhouse has returned around €2bn, equivalent to approximately $2.2bn, to investors through exits.

The fundraising reflects continued investor appetite for the European mid-market. LPs are increasingly shifting allocations towards strategies perceived as more resilient amid slower IPO markets and volatility.

Charterhouse invests in pan-European mid-market businesses across services and healthcare. It typically targets companies with enterprise values between €150m and €1.5bn. The firm has already begun deploying CCP XII. In December, it announced the acquisition of medtech company Winback.

Charterhouse also strengthened its senior team in 2024 with the appointment of former NatWest Group chief executive Alison Rose as senior partner.

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