Advent Raises $2.1B Latin America Fund in Less Than Six Months
November 07, 2014
Reaching its hard cap of $2.1 billion in less than six months of fundraising, Advent International's Latin American Private Equity Fund VI is a considerable 27% larger than the firm's previous regional vehicle, which closed on $1.65 billion in 2010. The speedy fundraise highlights the scale of LP interest in the region, as well as Advent's success with its predecessor fund, which had an IRR of 9.50% as of September 30, 2014. LAPEF VI will target a variety of sectors, making control-oriented investments in late stage companies, mainly in Brazil, Colombia and Mexico. For a look at buyout and growth funds focused on Latin America, click here.