Astorg, a European mid-market private equity firm, has decided to charge fees on co-investment deals as the industry wrestles with high levels of investor appetite for such deals – which typically don’t incur fees.

The Paris-based manager has told its investors that once they have co-invested as much as they have invested in Astorg's fund, they will be charged a 1% management fee and 10% carried interest on future co-investment deals, according to people familiar with the matter.