Advent raises US$ 27 billion for its largest global fund

Advent has successfully raised its largest global fund, totaling US$ 27 billion, along with an additional US$ 3 billion for a new middle market investment strategy.

The priority markets for this fundraising are the United States and Europe; however, up to US$ 6 billion from the main fund may be directed toward emerging markets to co-invest with local funds managed by the firm.

The challenge lies in identifying opportunities amid a global rise in interest rates and stretched valuations in certain sectors. "Investors are recognizing Advent's ability to do this," said Juan Pablo Zucchini, head of private equity for Latin America, as reported by Brazil Journal.

In Latin America, where macro and political volatility is a constant, Zucchini sees opportunities in sectors that are also the focus of the firm globally: consumption, finance, industrial, health, and technology. "Brazil, in particular, is a large ecosystem of companies, many family-owned, that need capital and internal improvements to grow. This is what we seek, and the pipeline is robust despite the macro challenges," he added.

The dedicated middle market fund was established due to the growth of this market in the U.S. and Europe, with investments primarily focused in these two regions. Contributions will range from US$ 100 million to US$ 350 million in companies valued at up to US$ 1.25 billion.

Currently, Advent manages approximately US$ 109 billion in assets. Its second-largest fund, amounting to US$ 25 billion, was raised in 2022. This year has seen significant divestment volumes, around US$ 13 billion, while investments in both new companies and existing portfolio firms totaled about US$ 10 billion.

Since 1997, Advent has invested approximately US$ 6.6 billion in Brazil, with recent deals including the purchase of an 8% stake in Natura this year and the Series C round for SkyOne in 2025.

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