Herkules Capital, the Norwegian private equity firm, has held a final close at US$884 million for its third fund, which will focus on Norway and the Nordic Region.

Herkules III's key investors include Goldman Sachs and Indiana Public Employees’ Retirement Fund.

“We are very pleased to have successfully launched the third Herkules fund with a final close of 6 billion Norwegian kroner, the largest fund ever raised in Norway,” said Gert Munthe, managing partner. “This was in excess of our target and reflects the widespread support we've had from investors both in Norway and internationally.”

Herkules was launched as Ferd Private Equity in 2002 and targets mid-market companies.