Global private equity investor Advent is said to be making a second attempt at raising an Asia-focused buyout fund with a target of as much as $3 billion, according to a PEI report.
Advent’s first fund in Asia was a Japan vehicle, Japan Private Equity Fund, which closed in 2008 at ¥60 billion (about $560 million at that time). Limited deal flow, however, prompted the firm to wind down the fund and return capital to limited partners, according to the report.
The report follows Advent’s expansion in Asia, marked by the opening of its Sydney office last year, with plans to relaunch its Tokyo office later this year. The firm originally established its Tokyo presence in 2001 but closed the office a decade later in 2011 after winding down its Japan vehicle.
Early this week, global private equity major Bain Capital was reported to be in the market to raise $2 billion for its second Japan mid-market fund
Advent International is one of the world’s largest and most experienced global private equity firms, with approximately $91 billion in assets under management as of December 31, 2024.
The firm has invested in more than 430 companies across over 30 sub-sectors worldwide, leveraging deep sector expertise and a global network to create long-term value.
The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer, and leisure; and technology.
Last week, the firm announced signing a definitive agreement to invest $175 million for a significant minority stake in Felix Pharmaceuticals Pvt Ltd, a Dublin-headquarterd player in the generic animal health pharma space.
Recently, the firm invested in Apollo 24/7, the digital healthcare platform of India’s Apollo Hospitals. It also partnered with PE firm Multiples to invest about $230 million in Indian microfinance firm Svatantra Microfin.
