(Boursier.com) — Advent International, a world leader in private equity, today announces the closing of its main fund Advent International GPE X Limited Partnership Fund. The Fund has reached its hard cap of 25 billion dollars of commitments (22.1 billion euros) after less than 6 months of fundraising.
By combining the funds raised in GPE X and Advent Tech II, Advent has thus obtained more than 30 billion dollars (25 billion euros) in commitments in about 12 months from its third-party investors as well as from Advent and of his teams.
A proven strategy
GPE X will continue the same strategy that has worked on previous funds, targeting a mix of geographies, sectors, deal types and sizes. GPE X will continue to focus primarily on Europe and North America, while strengthening its local roots in Asia.
Future investments of the GPE X fund will rely on Advent’s ability to support its portfolio companies in their internationalization as well as on solid operational resources. They will also benefit from the expertise of Advent’s teams and the entrepreneurial approach of more than 265 investment professionals who focus on five key sectors: business services and financial services, health, industry, specialized distribution-goods consumption, technology-media-telecom.
A solid “track-record”
In addition, Advent will continue to focus on operations where it has a solid “track-record”, such as complex “carve-outs” of large companies, or delistings. Since its inception, Advent has invested more than $15 billion through more than 90 carve-outs in 28 countries, and completed more than 25 delistings.
“Present in France for 25 years, Advent has successfully developed its team on the French market. This new GPE X fund will allow us to pursue our long-term investment strategy which consists of accelerating the transformation and internationalization of companies in we invest in. We do so alongside the management teams we support, by combining our strong sector expertise, our local and international roots, and our passion for growth”, said Michael Ogrinz, Partner and President of Advent in France. .