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PRINT THIS PAGE HitecVision sells three Fund III investments to Cubera Private Equity15/07/2008. Source: AltAssets. 
Norwegian private equity firm HitecVision has sold three investments from its HitecVision Private Equity III fund to Cubera Private Equity, a Norwegian secondaries specialist. The investments are in RigNet, a US provider of communication services to the oil and gas industry; SPT Group, a Norwegian specialist in modelling software for the oil and gas industry; and Norse Cutting & Abandonment a Norwegian service provider to the oil and gas industry.
HitecVision Private Equity III was established in 2002 with NOK690m in capital commitments. It has invested in nine portfolio companies in total.
Prior to this transaction, four of the fund's portfolio companies were fully realised and three (including SPT Group) had been partially realised. The realisations include three IPOs, three trade sales and a secondary sale to another private equity fund.
Following the latest transaction, the fund's remaining investments are listed shares in Noreco and ProSep.
HitecVision specialises in buy-out and growth stage investments in the oil and gas industry in Northern Europe and North America. The firm is currently investing HitecVision V, a $800m fund raised in 2007/2008.
HitecVision is headquartered in Stavanger and has offices in Oslo, Aberdeen and Houston.
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