Helge Gaso, the controlling shareholder in Norwegian aquaculture giant NTS and a close group of former managers and directors at the group, are forming a fund targeting NOK 10 billion ($1 billion/€1 billion) in capital to deploy across sectors including fishing and aquaculture.

Gaso, who still controls 37 percent of NTS, lost a battle for control of the group earlier this year when rival salmon farmer Salmar secured over half of the shares in the group. As a result of the deal, Gaso will sell out his stake in the group as well.