Charterhouse Group, a US-based buyout firm, has made seven times its investment in waste management group Oakleaf Global Holdings following its sale to a private equity rival.

Charterhouse, which last month merged its portfolio company Saga with Permira and CVC-owned roadside assistance group the AA, sold US-based Oakleaf to private equity firm New Mountain Capital in a secondary buyout worth $655m (€479m).