Norwegian private equity group, Norvestor Equity has held a final closing of its fourth fund Norvestor IV LP on €167m. Commitments have come from leading Norwegian and international investors, such as DnB NOR, Telenor, Canica Argentum, KLP, Gjensidige and Bear Stearns. The fund will continue Norvest’s strategy of investing in buyouts and development capital investments in the Nordic mid-market. The firm typically invests equity stakes of between €10m to €30m in companies with enterprise values of between €20m and €100m.
The team has already made three investments from the fund including: jewellery retailer Panorama; SCAN Geophysical, an operator in the market for high-end 2D and small size 3D seismic surveys; and health product chain Life.
Norvestor Equity has offices in Oslo and Stockholm. The team has been investing in the Norwegian private equity market for 15 years and has invested around €300m in 51 companies.