Advent Closes $30 Billion in Funds Amid Private Equity Slowdown

Advent International raised about $30 billion across two funds, including nearly $27 billion for its 11th flagship buyout fund, GPE XI, which exceeded its $26 billion target and is the largest buyout fund to close so far in 2026. The firm also secured more than $3 billion for its new mid-market strategy, which will target smaller investments in North American and European companies; GPE XI will focus primarily on Europe and North America while investing globally. The fundraising comes amid a slowdown in private equity exits, even as Advent says it returned roughly $13 billion to investors and invested about $10 billion across its portfolio in 2026.