Global private equity fund Advent International has completed fund-raising for its ninth global PE fund, GPE IX, with it reaching hard cap of $17.5 billion.

The fund surpassed its $16-billion target after six months in the market. Advent’s previous global fund, GPE VIII, closed on $13 billion in 2016, the company said in a statement. GPE IX will invest 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.

Across all of its funds, Advent has invested $44 billion in more than 345 private equity transactions in 41 countries.

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