Advent names consumer managing director in Boston

Tricia Patrick, who spent 12 years at Bain Capital in its consumer team, is the latest of several hires by Advent this year.

Advent International has hired Tricia Patrick as a managing director in its Boston headquarters, according to a statement from the firm.

Patrick joins the buyout firm's retail, consumer, and leisure team in North America, bringing the headcount to 13 in the continent and 38 globally. Her role will be like that of other investment managing directors, identifying and securing investments and working closely with portfolio company management teams, according to an Advent spokesman.

She begins her new position immediately, the spokesman told Private Equity International.

Patrick previously served as a principal in Bain Capital Private Equity's consumer, retail, and dining team. She spent a total of 12 years at Boston-based Bain, where she closed transactions across retail, healthcare, business services, real estate, and media, according to her LinkedIn profile .

She began her career in the private equity group at Goldman Sachs in New York.

Her appointment follows a number of new hires this year at the firm. In September it  hired Sébastien Veil , who joined Advent as a director in its Paris office after eight years at French firm PAI Partners. In June  the firm also named Gilles Denoyel  as an independent industry advisor, and in May hired former chief executive of insurance services provider Baloise Group, Martin Strobel, as  an operating partner .

In March the firm closed its eighth flagship buyout fund, Advent International Global Private Equity VIII,  on its $13 billion hard-cap  after just six months in market. Ninety percent of commitments to the fund,which had an initial target of $12 billion, came from returning investors, despite Advent scrapping the traditional return hurdle rate.

As of 30 June, Advent managed $40 billion in assets. It has offices in North America, Europe, Latin America, and Asia, and focuses on five core sectors of business and financial services, healthcare, industrial, retail, consumer, and leisure, and TMT.