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Laxman Pai, Opalesque Asia:

Avance Investment Management, a PE firm focused on the middle market, has wrapped up its debut fund at about $1.1 billion, beating its original $500 million target.

The New York-based firm, co-founded by former executives from Palladium Equity Partners, said in a press release that the fund received strong support from a diverse range of high-quality institutional investors, including pension plans, insurance companies, foundations, and fund of funds, as well as industry executives and the general partner.

"This is an exciting milestone for our firm, and we are grateful for the tremendous support from our limited partners, consultants, and trusted advisors during these extraordinary times," said David Perez, Managing Partner at Avance. "We are thankful for the hard work by our committed team and very appreciative of all who supported and encouraged us along the way."

"We look forward to continuing to partner with best-in-class management teams to build great companies and create value across our portfolio," said Luis Zaldivar, Managing Partner at Avance. "We are incredibly proud of having brought together a committed team that shares our vision to be a high-performing organization with a strong culture while making a positive impact on our communities."

To date, Avance has completed four platform investments: RIA Advisory, a revenue management solutions provider; Synergy Infrastructure Holdings, an equipment rental provider; UniVi......................

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