Herkules Capital Raises Third Fund

Herkules Capital, a Norwegian firm previously known as Ferd Private Equity, has closed its third fund with NOK 6 billion ($890m) in capital commitments. Limited partners include Argentum, Ferd, Orkla, DnB NOR, Storebrand, Goldman Sachs and Indiana PERF.



Herkules Capital (“Herkules”), the leading Norwegian Private Equity firm, formerly known as Ferd Private Equity, is pleased to announce the launch and final close of its third fund, Herkules III. The final close exceeded its target, raising more than NOK 6 billion (approx. Euro 700 million). The fund is the largest Norwegian private equity fund ever raised. Today, total capital under Herkules management is NOK 12,300 million.


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, commented:


“We are very pleased to have successfully launched the third Herkules fund with a final close of NOK 6 billion, 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. Herkules invests in established companies with strong growth potential for organic growth and add-on acquisitions. Herkules takes great care to preserve portfolio company values and the partners take an active role in driving long-term value creation in each investment. Herkules’ usual investment timescale is approximately five years.


Herkules is owned by its partners and leading employees and has a staff Of more than 20 people who work on assessing new investment opportunities, transaction execution and portfolio company development. Since its launch in 2002, Herkules has executed more than 30 acquisitions and is currently invested in 14 portfolio companies with aggregate revenues in excess of NOK 18,6 billion employing around 15,000 staff.


Background of Herkules Capital:


Herkules Private Equity Fund was established as Ferd Private Equity Fund in 2003 with Ferd AS as the cornerstone investor.


Herkules Capital is exclusive advisor to the Herkules Private Equity Funds.


Ferd Private Equity Fund has changed name to Herkules Private Equity Fund and Ferd Equity Partners has changed name to Herkules Capital in March 2008.


For further information about the Company, please go to: http://www.herkulescapital.no