HitecVision raises $1.9 B for further investments

HitecVision, the leading European private equity investor focused on the oil and gas industry, has received commitments of USD 1.9 billion for its new fund HitecVision VII L.P., exceeding the USD 1.5 billion target.

Illustration: An accommodation unit owned by one of HitecVision’s companies

The strong interest from existing and new investors attests to HitecVision’s value creation model in the oil and gas industry. With the new Fund HitecVision now manages USD 5 billion of institutional capital.

The Fund has attracted strong support from existing blue chip investors and three new investors, resulting in a well diversified investor base comprising pension funds, financial institutions, sovereign wealth funds, university endowments, family offices and charitable foundations.

Among the Fund’s investors are: Adams Street Partners, Argentum, ATP PEP, Commonfund Capital, DNB, Goldman Sachs Asset Management, HarbourVest, The Hillman Company, KEVA, KLP, LGT, New Jersey Common Pension Fund, Nordea, Partners Group and Storebrand. In addition to the commitments from institutional investors, HitecVision and associate entities have committed USD 100 million to the Fund.

The Fund will continue to build on HitecVision’s successful serial entrepreneurial model in the oil and gas industry, implemented by the team throughout the firm’s history, combining extensive operational experience from the petroleum sector with strong transactional and financial competence.

HitecVision is a Europe’s leading private equity investor focused on the upstream offshore oil and gas industry. HitecVision is headquartered in Stavanger, the center of the Norwegian oil and gas industry, and has offices in Oslo and Houston. Since 1994, the company has invested in, acquired or established more than 150 companies (including add-on acquisitions).

Press Release, April 04, 2014

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