Herkules Capital, the Norwegian private equity firm, has announced the launch and final close of its third fund, Herkules III, which will focus on Norway and the Nordic Region.
Herkules Capital, the Norwegian private equity firm, has announced the launch and final close of its third fund, Herkules III, which will focus on Norway and the Nordic Region.
The final close exceeded its target, raising more than NOK6bn (EUR700m), and is the largest Norwegian private equity fund ever raised.
Total capital under Herkules management is NOK12.3bn.
Herkules III’s key investors include Argentum, Ferd, Orkla, DnB NOR, Storebrand, Goldman Sachs and Indiana PERF. The fund will follow Herkules’ established investment criteria.
Gert W. Munthe, managing partner of Herkules (photo), says: "We are very pleased to have successfully launched the third Herkules fund with a final close of NOK6bn, the largest fund ever raised in Norway. This was in excess of our target and reflects the widespread support we’ve had from investors both in Norway and internationally. Our 20 people strong team is ready to begin looking at investment opportunities where we can continue to drive both long term value for our Herkules III investors as well as significant growth opportunities for potential portfolio companies."
Herkules was launched as Ferd Private Equity in 2002 and targets mid-market companies located in the Nordic region, primarily in Norway.
Since its launch, Herkules has executed more than 30 acquisitions and is currently invested in 14 portfolio companies with aggregate revenues in excess of NOK18.6bn employing around 15,000 staff.
