PRINT THIS PAGE Advent International closes $265m Latin American fund19/07/2002. Source: AltAssets. 
 Global private equity firm Advent International has closed its Latin American Private Equity Fund II with $265m of commitments.
The fund will be invested in established and profitable companies across the region.
‘We are pleased to have completed this successful fundraising in a very challenging environment,' said Ernest Bachrach, chief executive of Advent's Latin American operations.
‘Our investors have recognised that Advent's differentiated approach to investing in Latin America is the most likely to generate attractive returns in a shorter time frame
than is normally possible in the region,' he added.
The fund will follow closely the strategy practiced by the firm's first Latin American fund, which purchased mainly controlling stakes in mature and growing companies with positive cash flow and leading market positions.
The equity investment size, including syndicate partners, will range from $10m to $100m and the regional focus will be on Mexico, Brazil and Argentina. The fund has already made one investment, the $50m buy-out of Imagen Fuera de Casa Comunicacion and operations of Anuncios y Servicios to produce the second-largest outdoor advertising company in Mexico.
Advent has been operating in Latin America since 1996 and has 15 investment professionals in the region. Investors in this second fund include GE Capital, HarbourVest Partners, Inter-American Investment Corporation and International Finance Corporation.
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