Norvestor Equity announces the final close of Norvestor VII, L.P.

8 February, 2016 Oslo, Norway

Norvestor Equity AS (“Norvestor”), a leading Norwegian mid-market private equity firm, is pleased to announce the successful final closing of Norvestor VII, L.P. (“Fund VII”). Fund VII was oversubscribed and closed at the hard cap of NOK 4.9 billion (EUR 510 million).

Fund VII has a strong following from investors in predecessor funds and has received commitments from a number of new international investors representing a global coverage. The commitments came from a broad range of institutional investors, including government agencies, endowments, insurance companies, pension funds, banking groups, family offices, fund of funds and asset managers.

Norvestor is one of the most established private equity firms based in Norway focusing on mid-market companies based in Norway and Sweden as well as oil service companies based in the North Sea region.

Fund VII will continue the proven strategy by making investments in mid-market companies with enterprise values of typically NOK 150 million to NOK 1.5 billion in partnership with founders and strong management teams to achieve a leading pan-Nordic or international position. To date, Fund VII has invested in the Norwegian based soft facility management provider 4Service.

We are very pleased to be able to continue the successful relationship with our existing investors and to welcome a number of new leading global institutions that have recognised the depth of experience in the Norvestor team. We are confident that Fund VII will build on the successful track record of the previous Norvestor funds”, said Lars Grinde, Managing Partner at Norvestor. 

“We launched a targeted process in September 2015 focusing mainly on existing relationships which resulted in an efficient fundraise. Since 2004 we have gradually broadened our investor base outside the Nordic region and have continued to do so with Fund VII resulting in almost 70% of the investor base now coming from the rest of Europe and North America. We are very satisfied with the support we have received and look forward to further strengthening these relationships during the course of Fund VII ”, said Rebecca Schau, Investor Relations Manager at Norvestor.

Norvestor was assisted by Credit Suisse Asset Management Limited, who acted as placement agent to Fund VII, and by Fried, Frank, Harris, Shriver & Jacobson and BA-HR, who acted as legal advisers.

SOURCE: www.norvestor.com

RELATED LINKS: www.norvestor.com

The Fund Reviews team advised investors in this fund.