US private equity firm Advent International Corp is preparing to launch a $2.2 billion fund to invest in Latin American companies, two people with knowledge of the matter told Reuters. The fund launched in coming days will be Advent's seventh for Latin America and its largest for the region. Advent's last Latin American fund reached $2.1 billion in commitments in 2014.
Advent declined to comment on the matter. Advent has invested in companies in Brazil, Colombia, Argentina, Chile, Mexico and Peru. The firm intends to close the fund-raising by September, according to one of the sources, who asked for anonymity because discussions are still private.