Ebb & Flow

Norway's Ferd Private Equity Fund I is looking to bestow a bumper return to its limited partners following the flotation of the profitable Pronova BioPharmaon the Oslo Stock Exchange later this month.

Having invested just NOK440 million to buy the company from Norsk Hydro in 2004 and already having sold two of Pronova's business lines, Ferd is now set to send between NOK1.6 billion and NOK2 billion ($291 million to $367 million) back to its investors, and it will still own 60% of the company...