Advent International opens China office
Advent International has opened its first China office in Shanghai. Advent China will work on local investments the PE firm's core sectors of chemicals, healthcare, retail, consumer and leisure.
The office will also provide local market support to the global team, analyzing the Chinese business opportunities that come with international transactions.
Managing Director Filippo de Vecchi and Principal Andrew Li will jointly lead the Greater China operation.
"Our presence in Shanghai will enable us to offer management teams operating in China direct access to our global network, sector knowledge and investment expertise, helping them to achieve their expansion plans and deliver sustainable performance over the long term," said de Vecchi.
Advent closed its Japan office in 2011 after deciding there were insufficient investment opportunities to justify having a presence in the country. The firm also wound up its dedicated Japan fund. Apart from China, Advent's only Asia representitive office is in India. It completed its first investment in the country last year, committing $105 million to CARE Hospitals.
Founded in 1984, Advent has raised $37 billion and completed more than 280 buyout transactions in 36 countries, achieving over 210 full or partial exits. The firm's seventh global buyout fund closed last year at $10.8 billion.
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