Advent International raised $1.9 billion for its Global Private Equity...

Advent International raised $1.9 billion for its Global Private Equity IV fund, which plans to invest 70% in Europe and 30% in North America. The fund, now closed, will target buyouts and established growth companies capitalized between $100 million and $500 million. Investors include the $147 billion California Public Employees’ Retirement System, Sacramento; $64 billion General Motors Corp. pension plan, New York; $56 billion State of Michigan Department of Treasury Bureau of Investments, Lansing; and C$12 billion (US$7.5 billion) Canada Pension Plan Investment Board, Toronto.