Norway-based Herkules most in-demand small European LBO manager

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aurora-731456_1280Norwegian private equity firm Herkules Capital is the most popular small European buyout manager on the secondaries market, according to new research.

Herkules topped the list, with Germany-based Afinum and capiton AG taking second and third place respectively, according to Setter’s 20 Most Sought-After Small European LBO Managers on the Secondary Market report for Q3 2015.

The report, which ranked managers whose most recent funds are below $500m, found that funds from the managers which made the list traded at an average of 99 per cent of NAV.

Herkules invests in companies located in the Nordic region, primarily in Norway, and acquires majority interests in established businesses with strong growth potential, according to its website.

Since 2004 the firm has has raised funds totalling about NOK15bn (€1.6bn) and completed 100 investments so far, including add-ons and 33 platform investments.

Other European small buyout firms to make the top 10 included MCH Iberian Capital, Norvestor Equity, Denmark’s Polaris, Lyceum Capital, Stirling Square Capital, Avedon Capital Partners and 21 Centrale Partners.

The report is based on the Setter Liquidity Rating, which rates fund families as excellent, very good, good or unrated depending on how sought-after and saleable they are on the secondary market.

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