Norwegian private equity firm Herkules Capital is reportedly nearing a first close for its latest fund.
Herkules expects to hit a first close by the end of the summer, said PEI Media, citing sources familiar with the matter.
Herkules, which is based in Oslo, has so far closed three funds totalling NOK12.25bn ($2bn) including NOK6bn for its third fund in 2008.
The firm 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.
Last month Herkules bought Umoe Schat-Harding and Noreq, merging the two companies to create a global supplier of maritime life-saving equipment with revenues of around NOK1.2bn.
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