Advent International establishes a new closed CEE investment fund

ACEE IV is the fourth private equity fund raised by the American Advent International company in this region, to invest in companies requiring €30-100 million of equity to build market leadership and for cross-border expansion.

In the past three years, Advent International backed eight companies in the region, including dufa Deutek, the largest producer of decorative paints in Romania, LaborMed Pharma, generic drug producer and distributor, and Ceramica Iasi, producer of ceramic bricks and tiles.

“We have had a series of successful investments in Romania over time, and we continue to see companies we believe we can help become national and regional leaders, as well as a number of increasingly larger entrepreneurs,” said Emma Popa-Radu, Administrative Manager of the Advent International Bucharest office.

The largest investors in the ACEE IV fund are GIC Special Investments, AlpInvest Partners, California State Teachers’ Retirement System and the European Bank for Reconstruction and Development (EBRD).

The latest fund established by Advent is GPE VI, worth €6.6 bln.

As is the case with former ACEE funds, for larger deals, local teams will use additional capital supplied by global funds administered by Advent.