Herkules nears first close for latest fund

Oslo-based Herkules Capital expects to hold a first close for its latest vehicle Herkules Private Equity Fund IV - which it started pre-marketing in 2012 with a NOK 6bn target - by the end of the summer, according to private equity publication PEI.

The firm's third and current vehicle, Herkules Private Equity III, is a NOK 6bn fund closed in 2008 that holds nine portfolio companies. Close to fully invested, it has so far generated a 1.3x money multiple.

Herkules' first vehicle, launched in 2004, is a NOK 2bn fund that returned a 7.2x multiple and an IRR of 102%.

Other Nordic firms currently fundraising include FSN Capital, which is aiming to raise between €400-500m for its fourth fund, PEI added. Nordic Capital is meanwhile expected to close its eight fund on €3bn in September.

Herkules Capital declined to comment.

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• Topics
• Nordics
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• Herkules Capital