Charterhouse executives pocket £32m despite investment flops

 
Ollie Gordon
Based in Paternoster Square, Charterhouse is one of the City’s oldest private equity firms
Top dealmakers at City private equity firm Charterhouse Capital Partners took home £32.3m last year, it emerged yesterday, despite some of the buyout specialist’s key investments falling into lenders’ hands over the period.

Top executives at the firm pocketed an average of £1.24m last year, according to accounts filed on Companies House.

Charterhouse – one of London’s oldest and most secretive private equity firms – recorded profits of £77.4m over the year. However, the buyout firm has seen a number of its companies run into trouble over the period. It lost control of both Caerphilly-based cleaning company PHS and French retailer Vivarte.

PHS was taken over by a consortium of hedge funds in a restructuring last September, after succumbing to the weight of its debt burden.

Vivarte was seized by lenders in a €2bn (£1.5bn) debt-for- equity swap in October. Charterhouse was also forced to inject £20m into healthcare tech firm Tunstall.

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