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Laxman Pai, Opalesque Asia:

Private equity firm Advent International said that it has completed raising funds for its ninth global private equity fund, GPE IX, with commitments of $17.5bn, surpassing the earlier target of $16bn.

Advent's previous global fund, GPE VIII, closed on $13bn in 2016.

The new fund will invest in buyout, corporate carve-out, public-to-private and growth equity transactions. It will primarily look at deals in Europe and North America and selectively in Asia and Latin America, the firm said.

"We are seeing great deal flow in carve-outs in particular," said Advent Managing Partner James Brocklebank. "We continue to see this as a new phenomenon in Europe and it's taking hold."

"We are pleased with the strong support GPE IX received from both existing and new investors," said David Mussafer, a Managing Partner at Advent in Boston.

Mussafer is one of 15 Managing Partners who oversee Advent. "We believe that our success is due to our long-established sector focus, global footprint, private partnership model, and the significant operational resources we apply to our investments."

"The successful fundraising of GPE IX marks a significant milestone for Advent and increases the amount of capital that may be deployed in India," said Shweta Jalan, a Managing Director at Advent in Mumbai.

"As with our previous global funds, with GPE IX, we will be able to invest a portion of the capital in India in pursuit of our long-estab......................

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