Advent Raises One of the Biggest Buyout Funds at $25 Billion (1)

Advent International has raised $25 billion for the second biggest private equity fund on record.

The buyout firm, which is majority-owned by its partners, took less than six months to raise the commitments, according to a statement Monday. The pool underscores how investor demand for large-cap buyout funds remains strong despite a darkening economic backdrop.

The fund -- Advent International GPE X LP -- drew commitments from pension funds, sovereign wealth funds, endowments and high net worth individuals. The vehicle reached its hard cap, or the maximum amount Advent wanted to raise, and boosts the firm’s assets under management to ...