Global private equity firm Advent International will invest about $5 billion in India and other Asian countries over the next few years as part of its plans to expand outside US and Europe. The company announced that it has completed fundraising for its flagship fund, Advent International GPE X, which reached its hard cap of $25 billion (€22.1 billion) in commitments after less than six months in the market.
Together with GPE X’s companion fund, Advent Tech II, the firm has raised over $30 billion in commitments in approximately 12 months from its limited partners and internal capital from Advent.
“In 2022, we expect an increased focus on EESG (employee, environmental, social and governance) and the continued momentum of dealmaking in India. It is crucial to have the flexibility to deploy capital in India across sectors, deal types, and sizes, with equity investments ranging from $100 million to $2 billion. The fresh fundraise through GPE X will support our expansion in India over the next few years and allow us to tap into attractive opportunities in a growing market, whilst helping us to continue to build a good quality portfolio, in alignment with Advent’s overall strategy and principles,” said Shweta Jalan, Managing Partner, Advent International.
Advent is a privately held firm majority-owned by its partners. Commitments to the new fund were secured from a broad mix of international investors, including public and private pensions, sovereign wealth funds, endowments and foundations, institutional fund managers, family offices and high net worth individuals. Most of the Fund’s commitments came from limited partners in prior Advent funds.
Advent International has been investing in India since 2007 and founded its Mumbai office in 2009. Over the past 15 years, we have invested over $2.9 billion across 13 companies in India in sectors such as financial services, consumer products, healthcare, industrial and technology.