Buyout firm Advent has started canvassing investors for a new flagship fund, which could be of similar size to its previous record-setting $25 billion vehicle, according to people familiar with the matter. The private equity firm has been holding preliminary meetings with its limited partners since last month, the people said, asking not to be identified discussing confidential information. Advent is targeting a size in the mid-$20 billion range for the new fund, they said. At a time when many alternative investment firms are looking to offer investors a range of strategies beyond leveraged buyouts, Advent is choosing to remain focused on its traditional model of taking controlling stakes in companies.
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Source: https://www.themiddlemarket.com/news-analysis/advent-reportedly-canvasses-investors-for-new-25b-fund