The single-asset vehicle extends B2B software investor Viking Growth's hold on a recruitment and HR software platform.
Under the non-binding agreement, O3 may increase its ownership in the social impact investor if certain fund launch and fundraising milestones are met.
The multi-strategy investment firm is reportedly considering a $350-400 million CV for four portfolio companies.
The oversubscribed vehicle for Ireland-based H&MV Engineering values the power infrastructure specialist at €1.4 billion, marking a 12x increase since Exponent's initial 2022 investment.
The single-asset deal centers on a health and social care software provider first backed by Activa in 2019.
Aberdeen and Rock Rail's continuation fund, which was co-led by Partners Group and StepStone, achieved an £800 million first close in July.
The multi-asset vehicle will support the next phase of growth for European companies Safety21 and Onlineprinters, while funding future acquisitions.
The transaction was supported by Pantheon as lead investor and Coller Capital as junior lead investor.
In January, Blue Earth held the first close of its dedicated impact secondaries strategy with over $100 million in capital commitments.
The Swedish firm is reportedly considering moving a portfolio of five to ten investments held in its first venture fund.
