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US Charterhouse Group holds first close at over $300m16/05/2003. Source: AltAssets. 
 US Charterhouse Group International has held a first close on its latest fund, Charterhouse Equity Partners IV. The fund has currently raised $300m, 40 per cent of its $750m target.
Charterhouse launched the fund in November last year and expects to hold a final close at the end of 2003. The fund has a hard cap of $1bn according to PrivateEquityCentral.
The fund's investors include the State of Michigan, an existing investor, and Dutch Pension manager NIB capital, which has not previously invested with the firm.
Charterhouse Group was founded in 1973 and currently manages more than $1.6bn in capital. The firm typically invests in middle market companies ranging from $100m to $500m. Charterhouse's target industries include healthcare services, telecommunications, business services, and industrial and consumer products.
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