Norwegian-based oil and gas specialist HitecVision has sold three of its investments to secondaries specialist Cubera Private Equity for an undisclosed sum.
The investments that have been sold to Nordic firm Cubera are in RigNet, (based in Houston, USA), SPT Group (in Oslo, Norway) and Nurse Cutting and Abandonment (in Stavanger, Norway).
Founded in 2002, HitecVision has since invested in nine portfolio companies and was established with NOK690m (US$135m).
Following this transaction, the fund’s only remaining investments are listed shares in Noreco and ProSep.
HitecVision is currently investing HitecVision V, a US$800m fund raised in 2007/08.