Norvestor Equity, a lower mid-market-focused buyout firm in Norway, is nearing a final close on its seventh fund, according to three people familiar with the matter.

The firm, which started marketing the fund before the summer, is looking to collect about 4.5 billion Norwegian kroner (€471 million) for its next vehicle. The fund, which is oversubscribed, is fully allocated to investors, but hasn't officially held a final close yet, one person said.