Advent names new IR partner

Advent International has hired former CP Eaton partner Beverly Berman as a partner responsible for investor relations and fund marketing activities.

( Boston-based Advent International announced it named Beverly Berman a partner responsible for investor relations and fund marketing activities.


Berman will develop and manage new and existing limited partner relationships, according to a press release.

Prior to joining Advent, Berman was a partner at placement agent CP Eaton & Associates, where she was responsible for screening alternative investments, including private equity and hedge funds. She has also served as a director in Credit Suisse First Boston’s customised fund investment group, where she was partly responsible for managing $5bn of commitments to private equity funds for CSFB and the firm’s institutional and high-net-worth clients. She also served as a portfolio manager of alternative investments for Colorado PERA.


“I am very excited to be part of the Advent team,” Berman said in the statement. “With its global reach, local presence and strong sector knowledge, Advent is well positioned to continue generating superior returns in an increasingly competitive private equity market.”


Advent closed its fourth fund at the end of 2001 on $1.9bn. Last year it raised $265m for its second Latin American fund.


Earlier this month, Advent acquired 90.7 per cent of the shares of Terapia, Romania’s third largest pharmaceuticals business, and will take the company private from the Bucharest Stock Exchange in the next few months. Also this month, the firm agreed to sell money transfer portfolio company Latin America Money Services and an operating subsidiary, DolEx Dollar Express, to Global Payments for approximately $200m.


The firm is also currently embroiled in negotiations with the Bulgarian government as it attempts to secure a deal to acquire BTC, the Bulgarian telecoms group put up for sale last year.


Advent International has $6bn under management and 14 offices in 13 countries. The firm has over 90 investment professionals operating in North America, Europe, Latin America and Asia Pacific. Since its founding in 1984, the firm has financed over 500 companies and has conducted 128 IPOs on 20 stock exchanges worldwide.