Fresh from losing the takeover battle for Norwegian salmon aquaculture conglomerate NTS earlier this year, controlling shareholder Helge Gaso is teaming up with a number of other industry figures to launch a private equity fund aimed at the development of "profitable activity" on the Norwegian coast.

The new fund -- named Froy Kapital after NTS' service vessel subsidiary, Froy Group -- will become fully operational from September this year, with a capital base of roughly NOK 6 billion ($618 million). In a release accompanying the launch, Gaso said there is an ambition to raise "up to NOK 10bn" in investment capital altogether [...]