Herkules closes record Norwegian fund

Herkules Capital has raised Norway’s largest ever private equity fund, closing its third fund, Herkules III, ahead of target on NKr6bn (€700m).

The fund attracted investments from Argentum, Ferd, Orkla, DnB NOR, Storebrand, Goldman Sachs and Indiana PERF, and will continue the Herkules strategy of investing in Nordic mid-market companies.

Since its launch in 2002, Herkules, a spin-out from Norwegian industrial and financial investment company Ferd, has completed more than 30 acquisitions and is currently invested in 14 portfolio companies with combined revenues of NKr18.6bn.