(PEHub) Several sources said Advent International is set this month to launch its Latin American Private Equity Fund VI with a $2 billion target.

One of the big themes at the International Finance Corporation’s 16th Annual Global Private Equity Conference was a resurgence of fundraising in Latin American, and particularly Brazil.

Several big firms are already out in market raising funds for Latin American investments, including Brazil, or are getting ready to launch. We’ve already covered the likely lightning-quick fundraising by Patria Investimentos, which is in market targeting $1.5 billion for Fund V.

Another big fund Latin America investors are watching is Advent International’s sixth investment vehicle for the region. Several sources at the conference (which IFC runs in association with the Emerging Markets Private Equity Association) said Advent International is set this month to launch its Latin American Private Equity Fund VI with a $2 billion target.

Dana Gorman, a spokesperson for Advent, declined to comment other than to share a statement from the firm: “Pursuant to U.S. securities law, Advent is prohibited from commenting on fundraising matters.”

Advent’s fifth Latin America fund closed on $1.65 billion in 2010. Fund IV closed on $1.3 billion in 2007. Fund V was generating a 1.10x multiple as of Sept. 30, 2013, according to performance information from the California Public Employees’ Retirement System. Fund IV was producing a 1.6x multiple and a 14.5 percent internal rate of return as of Sept. 30, according to CalPERS.

Advent’s Latin American funds focus on control buyouts and expansion financing in companies across the region, focusing mainly on Brazil, Mexico and Argentina. The team targets high growth sectors such as financial services, airport services, business services, retail and consumer and education, according to Advent’s website.

vAlong with Advent and Patria, other firms back in market or expected to come back to market this year include JPMorgan-backed Gavea Investimentos, targeting between $1 billion and $1.5 billion, Vinci Partners and Grupo BTG Pactual, which is reportedly targeting $1.5 billion, according to Dow Jones.

Last year, fundraising in Latin America totaled $5.5 billion from 49 managers reporting 52 partial or final closings, according to data from the Latin American Private Equity and Venture Capital Association.