Avance Closes Inaugural Fund With More Than $1 Billion in Capital Commitments
Closes at More Than 2x Original Target
Fund Focuses on Partnering with Exceptional Companies in Services, Technology and Consumer Sectors
NEW YORK, Sept. 13, 2022 /PRNewswire/ -- Avance Investment Management ("Avance" or the "firm"), a private equity firm that invests in founder-owned, middle market businesses in the Services, Technology and Consumer sectors, is pleased to announce the final closing of its inaugural fund, Avance Investment Partners, L.P., and affiliated vehicles, with aggregate capital commitments of approximately $1.1 billion, significantly above the original target of $500 million. The fund received strong support from a diverse range of high-quality institutional investors, including pension plans, insurance companies, foundations and fund of funds, as well as industry executives and the general partner.
Founded in 2020, Avance utilizes a disciplined approach to partnering with exceptional management teams to create long-term value. With offices in Miami and New York and 20 professionals across its platform, Avance leverages its team's deep functional expertise and the firm's proprietary STAGE™ framework to capitalize on business expansion opportunities and accelerate revenue growth for the companies it partners with.
"This is an exciting milestone for our firm, and we are grateful for the tremendous support from our limited partners, consultants and trusted advisors during these extraordinary times," said David Perez, Managing Partner at Avance. "We are thankful for the hard work by our committed team and very appreciative of all who supported and encouraged us along the way."
"We look forward to continuing to partner with best-in-class management teams to build great companies and create value across our portfolio," said Luis Zaldivar, Managing Partner at Avance. "We are incredibly proud of having brought together a committed team that shares our vision to be a high-performing organization with a strong culture while making a positive impact on our communities."
To date, Avance has completed four platform investments: RIA Advisory, a revenue management solutions provider; Synergy Infrastructure Holdings, an equipment rental provider; UniVista Insurance, a provider of insurance services; and Indimade, an e-commerce provider of ingredients and supplies to commercial artisans and hobbyists.
Greenberg Traurig, LLP acted as fund formation counsel to Avance.
About Avance Investment Management
Avance is a private equity firm with a passion for building great businesses in partnership with talented management teams. Avance focuses primarily on thematic investments within the Services, Technology and Consumer areas in the U.S., seeking attractive opportunities with catalysts for growth and fragmented spaces with consolidation opportunities. Avance's team has a long history of partnering with founder-owned businesses, industry executives, and management teams and aims to add value to each investment through the application of its STAGE™ value creation framework. Avance has offices in New York City and Miami.
Avance Media Contact
Woomi Yun / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
212.355.4449
SOURCE Avance Investment Management
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