India to remain top of the Asian pie for Advent

Mumbai: Advent International, the Boston-based private equity group, is set to maintain its dominance in the Asian market in the coming years. The firm has successfully raised $30 billion for a new global buyout fund and a newer mid-market fund, outperforming the challenges faced by several top-tier funds this year. Among these funds, the 11th flagship fund, Advent International GPE XI, exceeded its target by raising nearly $27 billion, making it one of the world's largest pools for buyout funds.

Managing Partner Shweta Jalan expressed confidence in India as a strong investment destination, despite external headwinds such as oil price volatility and currency fluctuations. Since its inception 19 years ago, Advent has invested around $7.5 billion in the country, executing 23 investments across various sectors. The firm has recently expanded its presence in Asia-Pacific by opening three new offices in Australia, Japan, and Hong Kong.

Jalan believes the fund's new funds will enable it to double down on its focus sectors, including pharma and healthcare, financial services, consumer, technology services, and AI. In the first half of the year, the firm has realized approximately $13 billion across 27 businesses, with headline exits like the sale of TK Elevator for $34 billion and the public listing of Innio Holding GmbH.

Over 80% of the commitments for Advent funds came from existing investors, making the firm an outlier in the private equity industry.