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Advent International to launch $2bn Latin American fund

19 May 2014

south-america-mapPrivate equity firm Advent International is reportedly preparing to launch its sixth Latin American fund.

Latin American Private Equity Fund VI is expected to be launched later this month with a $2bn target, several sources told PeHUB.

Advent’s previous fund focused on the region held a final close on $1.65bn in 2010, three years after the firm raised $1.3bn for its fourth Latin American vehicle.

The fifth fund was generating a return multiple of 1.1 times as at the end of September, CalPERS data showed.

Last month Advent reached a deal to merge payments auditor Connolly with Goldman Sachs’ medical claims company iHealth Technologies.

Other Latin American-focused funds currently in the market include Acon Investments’ fourth fund, which had commitments of $197.3m as at December.

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