Northleaf buys Charterhouse stakes off Paul Capital

Northleaf Capital Partners has purchased stakes in three Charterhouse Capital Partners (CCP) funds from Paul Capital, UK regulatory filings disclosed. The funds include CCP VII, VIII and IX.

CCP VII is a 2002-vintage fund that raised €2.7 billion, according to PEI’s Research and Analytics division. Meanwhile, Fund VIII raised €4 billion in 2006 and Fund IX closed on €4 billion in 2008.

The London-based buyout firm currently has 12 portfolio companies, according to its website. Earlier this year the firm acquired nuclear detection company Mirion and last year it purchased Italian cheese and specialty food products company Nuova Castelli and e-learning content provider Skillsoft.

Northleaf was an existing limited partner in Fund VII, PEI data disclosed. The firm is based in Toronto and uses its secondaries platform to acquire smaller and more mature fund stakes and portfolio company interests, according to its website. lts latest secondaries fund closed on $255 million in May 2014.

Paul Capital is in the process of becoming a ‘closed-doors’ firm. The firm had been searching for a buyer for six months, but halted the search in March 2014. It has since been managing existing funds, including its ninth fund which raised $1.65 billion in 2008. The firm returned commitments from Fund X, after the fund struggled to gain traction in 2013.

Spokespersons from Charterhouse, Northleaf and Paul Capital declined to comment.