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Nordic buyout firm Norvestor adds new partner

7 Feb 2014

nordic_tree_pineNordic-focused mid-market buyout firm Norvestor has appointed Per-Ola Baalerud as a new partner.

Baalerud has a broad industrial and financial background from senior positions in Norwegian companies.

He joins from global oil service company Aker Solutions, where he was senior vice president – business ventures, where he was responsible for acquiring and developing companies within several of their business segments.

He was previously CEO at Aker Oilfield Services and executive vice president at Western Bulk, a global dry bulk operator.

“Per-Ola has extensive experience with developing companies through active ownership from his previous positions. With both his generalist background and deep understanding of the energy sector, he will be a good addition to the Norvestor team”, said Lars Grinde, managing partner at Norvestor.

Last year Norvestor closed its oversubscribed sixth fund on its NOK3bn (€410m) hard cap.

The vehicle, which had a €400m target, received support from investors in Norvestor’s previous funds, as well as new commitments from institutional investors including sovereign wealth funds, government agencies and funds of funds, the firm said.

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