Global private equity firm Advent International received $2.1 billion in commitments for Advent Latin American Private Equity Fund VI.
Over 60 institutional investors participated in LAPEF VI, including public and corporate pension funds, endowments and foundations, funds of funds, sovereign wealth funds, family offices and other financial institutions. Approximately half the capital was raised from North American investors, one-quarter from European investors and the remainder from institutions in Latin America, the Middle East and Asia.
It will now focus on control-oriented investments in later-stage companies throughout Latin America, investing mainly in Brazil, Colombia and Mexico.
With 40 investment professionals working from offices in Bogota, Mexico City and Sao Paulo, the fund will target sectors where Advent has experience both regionally and globally, including business and financial services; healthcare; industrial and infrastructure; and retail, consumer and leisure.
Recent investments in Latin America include Ocensa, Dudalina, InverCap, Cataratas do Iguacu,Alianza Fiduciaria, and United Medical. Recent exits include Dufry, Kroton Educacional, Atmosfera, and Milano.