Advent Is Said to Seek $25 Billion for Its Biggest-Ever Fund (1)

Advent International is the latest private equity giant planning to tap a buoyant fundraising market for a record buyout fund, according to people familiar with the matter.

The U.S. firm is targeting about $25 billion for a new flagship vehicle and could begin seeking commitments next year, the people said, asking not to be identified discussing confidential information.

Deliberations are ongoing and no final decisions on the size or timing of the fundraising have been taken, they said. A representative for Advent declined to comment.

Fundraising cycles for private equity firms have shortened on record capital deployment and inflows, as ...