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Nordic fund defies economic slowdown

Article Date:  Nov 06 2008

Norwegian private equity firm Herkules Capital has closed its third fund at more than NOK 6 billion (£550 million).

Exceeding its fundraising target, Herkules III is the largest Norwegian private equity fund ever raised, according to managing partner Gert Munthe.

Its investors include Norwegian government-backed Argentum, Oslo-based financial services group Storebrand, investment bank Goldman Sachs, and US pension fund Indiana PERF.

Herkules was launched as Ferd Private Equity in 2002 and invests in mid-market companies in the Nordic region. The firm has NOK 12.3 billion under management.

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