Advent raises 8.5 billion euros for buyout fund

LONDON Mon Nov 12, 2012 8:44am EST

LONDON Nov 12 (Reuters) - Private equity firm Advent International said on Monday it has raised 8.5 billion euros ($10.80 billion) for its latest fund, one of the largest pools of capital raised for buyouts since the credit crisis.

Advent, whose deals include buying RBS's payment processing business WorldPay, raised more than the 7 billion euros it initially planned for its seventh Global Private Equity Fund, making it the firm's biggest fund since it was founded in 1984.

The new fund cements Boston-based Advent's position as one of the leading global buyouts firms and gives it capital to spend on medium to large-sized companies worth between 200 mln and 2 billion euros for the next five years.

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