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Norwegian energy private equity firm closes first green transition fund

Nordic pension funds are among the investors in the first private equity fund focusing on the green transition launched by HitecVision, which has been focusing on the offshore energy industry for more than 30 years.

Ole Ertvaag is the founding partner & CEO of HitecVision. He held the position of CFO and COO in Hitec ASA before HitecVision was established in 2000. | Photo: PR/HitecVision

In 2020, Norwegian energy private equity fund manager, HitecVision, decided to focus its new investments on the green energy transition. Now, the EUR 7bn manager has held a final close on its New Energy Fund (NEF).

The new fund, oversubscribed with a hard cap of EUR 875m, exceeding its EUR 500m target, has received funding from new and existing investors from Europe and the US.

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