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Laxman Pai, Opalesque Asia:

Norvestor, a major private equity firm in the Nordics, has closed its ninth fund Norvestor IX SCSp after hitting its EUR 1.5bn ($1.6bn) hardcap, exceeding its EUR 1.25 billion target.

The Oslo, Norway-based investment firm said in a press release that Norvestor IX was oversubscribed despite a challenging fundraising environment and received strong support from a diversified group of existing and new institutional investors, reflecting the conviction around Norvestor's value-creation proposition within Nordic services and solutions businesses.

Norvestor IX is almost double the size of its predecessor fund which closed at EUR 806 million in 2021. Participating investors include a broad range of long-term institutional investors, including endowments, foundations, government agencies, insurance companies, pension funds, funds of funds, and family offices from the Americas, Europe, and Asia.

With more than three decades of experience in the Nordic region, Norvestor established Norvestor IX to continue its successful investment strategy of partnering with exceptional businesses and supporting these companies into becoming regional champions.

The team will pursue the extensive opportunities within the Nordic services and solutions sectors which comprise business services, technology-enabled services, consumer services, and industrial solutions and services within and related to the Nordics. To date, Norvestor has completed over 80 platfor......................

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