Private equity fund Paine Schwartz Partners, the former owner of Icicle Seafoods, has sold its holding in Norwegian fish oil and feed producer Scanbio to two investment funds -- UK-based Pioneer Infrastructure Partners and Norway-based Verdane.

The investment is Pioneer’s third from its €575 million ($598.2 million) fund, Pioneer Infrastructure Partners, and the fifth from Verdane’s €300 million ($312.1 million) Verdane Idun impact fund.

The buyers also secured a loan agreement, including acquisition finance and a revolving credit facility with Norwegian bank DNB.