In largest ever fundraise, Advent raises $25 billion for buyout fund

Private equity investor Advent International has completed raising a record $25 billion, it's largest ever fundraise, for its flagship fund Advent International GPE X. The development, which takes Advent's assets under management to over $100 billion, indicates that demand for buyouts is strong despite the challenging global environment.

According to an official release, the fundraising for GPE X comes after the $4 billion raised by Advent Tech II, the company's second dedicated technology fund, in 2021.

GPE X will maintain its predecessor funds' focus on Europe and North America while also continuing to build Advent's active local presence in Asia, as per the release.

"Advent International's India portfolio includes the likes of Eureka Forbes , Aditya Birla Capital, Bharat Serums & Vaccines , DFM Foods and Manjushree Technopak ."

Speaking on Advent's plan for India, Shweta Jalan, Managing Partner, Advent International, said, "In 2022, we expect an increased focus on EESG (employee, environmental, social and governance) and the continued momentum of dealmaking in India. It is crucial to have the flexibility to deploy capital in India across sectors, deal types, and sizes, with equity investments ranging from $100 million to $2 billion."

"The fresh fundraise through GPE X will support our expansion in India over the next few years and allow us to tap into attractive opportunities in a growing market, whilst helping us to continue to build a good quality portfolio, in alignment with Advent's overall strategy and principles," she added.

The firm's investments in GPE X will be utilised in five key sectors - Business & Financial Services, Healthcare; Industrial; Retail; Consumer & Leisure and Technology.

Additionally, the Fund may co-invest with Advent Tech II and Advent's Latin America-focused fund.

The new fund received contributions from a wide range of international investors, including pension funds, sovereign wealth funds, endowments and foundations, institutional investors, family offices, and high net worth individuals. A large portion of the Fund's commitments was from limited partners in prior Advent funds.