The Private Investment Funds team advised Advent International on the successful completion of its fundraising for Advent International GPE IX Limited Partnership (“GPE IX”). The fund reached its hard cap of $17.5 billion (€15.6 billion) and surpassed the $16 billion (€14.3 billion) target after six months in the market. Advent’s previous global fund, GPE VIII, closed on $13 billion in 2016.
GPE IX will pursue the same proven strategy as Advent’s eight prior Global Private Equity funds, investing in buyout, corporate carve-out, public-to-private and growth equity transactions, primarily in Europe and North America and selectively in Asia and Latin America.
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. As of December 31, 2018, the firm had $36 billion (€31 billion) in assets under management, which does not include the $17.5 billion (€15.6 billion) raised for GPE IX. With 14 offices in 12 countries, Advent has established a globally integrated team of more than 195 investment professionals across North America, Europe, Latin America and Asia.
The Goodwin team was led by partners David Watson and James Donohue and included partner Neal Sandford, counsel Mirela Hristova, and associates Adam Aramati, Evin Luongo, Michelle Kim, Andrew Collins, Lauren Falkowitz, Joseph Baron, Tony Mu, Chris O’Brien, Michael Pickett, John Stern and Steve Garza in the U.S., and partners Michael Halford and Laura Charkin, and associates Lydia Galbraith, Michael O’Brien Kelly and Hamel Patel in London.
For additional details on GPE IX, please read the press release.