Norwegian private equity fund HitecVision has sold portfolio company CapeOmega for £1 billion.

Partners Group, a global private markets investment manager, is the new owner of CapeOmega, a Norwegian oil and gas and midstream infrastructure company.

Formed in 2015, CapeOmega holds significant stakes in some of Norway’s key midstream infrastructure, including Gassled, the world’s largest offshore gas transmission system, covering about 25% of Europe’s gas demand; Nyhamna, one of three key gas processing plants in Norway; and Polarled, a 480 km pipeline that runs from the Aasta Hansteen field to Nyhamna.

CapeOmega also holds stakes in three late-life oil fields: Brynhild, Enoch and Oselvar.