Advent International said Thursday that it has opened an office in Bogotá, Colombia. The office will be Advent’s fourth in the region and its 18th worldwide.
Advent International, one of the world’s leading global buyout firms, today announced that it has opened an office in Bogotá, Colombia, extending its long-established presence in Latin America. The office, Advent’s fourth in the region and 18th worldwide, will serve as a hub to invest in high-growth companies across Colombia, Perú and Central America.
“Given Colombia’s strategic location, prospects for continued growth and strong pipeline of investment opportunities, Advent believes it is an attractive market for private equity,” said Diego Serebrisky, an Advent Managing Director who is heading the Bogotá office. “Colombia has the fourth-largest economy and third-largest population in Latin America and a stable government, and its GDP has grown rapidly over the past five years. Importantly, middle-class consumption in the country is accelerating – a development that will be a key driver of business growth.”
The Bogotá office will focus on buyouts and growth equity investments in companies in fast-growing industries where Advent has deep expertise. Target sectors include pharmaceuticals, retail, energy, financial services and services for the mining and oil and gas industries. In line with Advent’s global approach, the team will seek to drive sales and earnings growth in portfolio companies through operational improvements, strategic repositioning and market expansion, both domestically and internationally.
Mr. Serebrisky, who worked in Advent’s Mexico City office for 13 years and has led or participated in 12 investments, is joined in Bogotá by three other investment professionals: Andrés Marulanda (Director), Hernán Cely (Associate) and Jacky Finkelstein (Analyst). These professionals bring a range of private equity, management consulting and investment banking experience to Advent’s operation in Colombia.
“Private equity has historically been limited in Colombia,” Mr. Marulanda said. “Recently, however, we have seen an increasing number of local, family-owned companies open to partnering with financial investors like Advent that offer sector and operational expertise. We believe the country has strong prospects for continued growth, particularly in industries we know well such as retail, financial services and business services.”
With the new office opening, Advent builds on its position as the leading pan-regional private equity firm in Latin America. Since entering the region in 1996, the firm has invested in 42 companies across seven countries. Its team of 40 investment professionals is the region’s largest, most experienced private equity group, working out of offices in Bogotá, Buenos Aires, Mexico City and São Paulo.
In 2010, Advent established its fifth Latin American fund, LAPEF V. Capitalized at US$1.65 billion, it is one of the largest private equity funds ever formed in the region and brings Advent’s total capital raised for investment in Latin America to more than US$5 billion.
In Latin America, as in other parts of the world, Advent takes an active ownership approach to investments, supporting the management of its portfolio companies in areas such as corporate governance, strategy, operations and financing. The firm’s Latin American team is complemented by a network of 20 regional Operating Partners, senior executives who work with Advent and management to improve and grow the businesses in which Advent invests. This regional team can further draw on the expertise and networks of 133 other Advent deal personnel and over 150 other Operating Partners globally to support the growth of its portfolio companies.
About Advent International
Founded in 1984, Advent International is one of the world’s leading global buyout firms, with offices in 17 countries on four continents. A driving force in international private equity for 27 years, Advent has built an unparalleled global platform of over 170 investment professionals across Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, strategic repositioning opportunities and growth buyouts in five core sectors, working actively with management teams to drive revenue growth and earnings improvements in portfolio companies. Since inception, Advent has raised $26 billion in private equity capital and, through its buyout programs, has invested in over 270 companies valued at over $60 billion in 35 countries.