Herkules Private Equity Fund I, II, III and IV
Herkules consists of four funds, which in total have committed capital of about NOK 15 billion.
| Fund | Established | Committed Capital |
| Herkules I | 2004 | NOK 2.0 bn |
| Herkules II (including Herkules II SPV) | 2006 | NOK 4.6 bn |
| Herkules III | 2008 | NOK 6.0 bn |
| Herkules IV | 2013 | NOK 2.5 bn |
Herkules Private Equity Fund was established in 2003 with Ferd AS as the cornerstone investor. Herkules has leading Nordic and International investors in its investorbase. The investors of the funds comprise public and private pension funds, insurance companies, family offices and fund-of-funds.
The committed capital will be used for acquisitions of established Norwegian and Nordic companies with strong growth potential. Herkules also makes add-on acquisitions outside the Nordic region. Herkules will typical seek controlling interests and focus on profitable growth through active ownership of its portfolio companies.
All Herkules funds are registered in Jersey, Channel Islands. Herkules Capital acts as the exclusive advisor to the funds. Herkules Capital is a registered member of the Norwegian private equity association, NVCA, and adheres to the association’s recommendations related to openness and transparency.
Investment Strategy
| Investment criteria | Focus areas |
| Geographic region | Focus on Nordic region, primarily Norway. |
| Investment stage | Established companies with positive cash flow and growth potential. |
| Investment size | Mid-market investments in companies with an Enterprise Value of NOK 250-2.000 million. Herkules seeks to own more than 50%, either alone or in partnership with our investors. |
| Industry focus | Herkules Private Equity Funds follow some industries with special interest, and the team has competence and experience within the five Industry Groups:
Herkules will seek to avoid asset intensive and cyclical industries. |
| Management | Strong management team willing to co-invest. Herkules will seek to avoid hostile take-overs. |
| Ownership | Both private and public companies will be considered. |
| Holding period | 5-7 years targeted for each investment. |
Fund reporting
Herkules has an open and transparent communication with its investors. We give frequently updates on the developments at Herkules and our portfolio companies through our newsletter, quarterly financial reports, e-mail correspondence, conference calls and annual meetings.
The Herkules funds quarterly report financial status and market value for the portfolio to the investors of the funds. Fair value measurements are prepared according to “International Private Equity and Venture Capital Valuation Guidelines” and “FASB ASC Fair Value Measurement and Disclosures Topic”.