In one of the largest fundraisings for a private equity buyout fund since September 2008, Goodwin Procter attorneys advised longtime client Advent International on a $10.8 billion (€8.5 billion) private equity fundraising for the global private equity firm’s Advent International GPE VII fund.
Focusing on developed markets in North America and Western Europe and selectively on other global markets, Advent’s new fund will pursue the same strategy as the firm’s six prior GPE funds – partnering with management teams to enable business transformation through revenue and earnings growth.
“Advising Advent on such a successful fundraising in a challenging economic climate was extremely gratifying,” said David Watson, chair of Goodwin’s Private Investment Funds Practice. “We look forward to advising Advent as they continue to build on their global platform dedicated exclusively to the private equity space.”
Founded in 1984 by Peter Brooke, Advent is one of the world’s largest firms dedicated solely to private equity, with offices in 16 countries on four continents.
The Goodwin team that advised Advent was led by Watson and included Matthew Giles, Neal Sandford and William Stern.