Norwegian private equity firm Herkules Capital has reportedly reduced the target for its latest fund.
The firm expects to close its Fund IV before the end of the year, said Private Equity International.
It was previously reported that Herkules was planning to hold a first close for the fund before the end of the summer.
The Oslo-based firm has so far closed three funds totalling NOK12.25bn ($2bn) including NOK6bn for its third fund in 2008.
Herkules makes equity investments of NOK100m to NOK$1.2bn for controlling stakes of over 50 per cent in both publicly traded and privately held companies.
It is focused on the energy and oil services, healthcare, consumer goods, retail, technology and telecommunications sectors.
The firm’s recent deals include the acquisition of Umoe Schat-Harding and Noreq.
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