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Advent Prepares to Launch US$2.2b Latam Focused Fund

18 April 2019

Advent International is preparing a new fund focused on Latin American based companies, expected to close in September 2019. This is Advent International’s seventh Latin America focused private equity fund.

(AltAssets) Advent International is reportedly preparing to launch a new private equity fund focused on Latin American companies.

The new fund is expected to close on $2.2bn by September, people with knowledge of the matter told Reuters.

The fund represents Advent’s seventh LatAm-focused vehicle, and its largest in the series so far.

Advent closed Fund VI on $2.1bn of capital commitments in 2014 as it continued its bet on companies located across Brazil, Colombia, Argentina, Chile, Mexico and Peru.

It’s recent investments in the region include Argentinian payments business Prisma Medios de Pagos and Brazilian FinTech marketplace Easynvest.

In June last Advent acquired an 80 per cent stake in the underperforming Brazilian operations of Walmart. The firm opened its São Paulo office in 1997 and has invested in around 30 Brazilian companies.

The US buyout major has invested $44bn in over 345 private equity investments since launching its PE strategy in 1989.

Advent hit $13bn hard cap for its GPE VIII fund in 2016 after just six months on the road.