Strømme leaves Herkules

Former Morgan Stanley veteran Dag Strømme has left Herkules Capital after just two years as a partner at the Nordic private equity firm.

Dag Strømme has left Norwegian private equity house Herkules Capital.

Strømme joined Herkules as a partner in April 2007 from Morgan Stanley, where he had spent 17 years in various roles including managing director.

Most recently at Herkules, Strømme worked on the October 2008 acquisition of Gothia Financial Group, a supplier of invoice administration, invoice purchasing, debt purchasing and debt collection, and he will retain a board position in the firm going forward.

He also notably worked on the acquisition of Aibel, a Norwegian oil and gas company, in August 2007, and went on to help negotiate the firm’s refinancing and settlement with the US Department of Justice in autumn 2008. He is on the firm’s board of directors, however, it is not clear whether he will continue in this role.

Last November Herkules, formerly known as Ferd Private Equity Fund, raised NOK6 billion (€693 million; $898 million) for Herkules III, in what was billed as the largest fund ever raised by a Norwegian firm at the time and the largest to focus on Norwegian investments.

Herkules was unavailable for comment at press time.