Boston, March 3, 2010 – Advent International, the global private equity firm, today announced that it will open an office in New York this month. The office, Advent’s seventeenth worldwide, deepens the firm’s global investment platform by providing it with a physical presence in one of the world’s most important financial centers.
Advent Managing Director Tim Franks will relocate from London to lead the New York office. Mr. Franks has been with Advent for over 10 years and is an experienced investor in a number of industry sectors, including retail/consumer, industrial and TMT. He has also been coordinating the global debt team within Advent. Before Advent, Mr. Franks worked in investment banking at both Credit Suisse and Deutsche Bank. Joining Mr. Franks in New York are Mohammed Anjarwala and Andrew Crawford, Advent principals who have relocated from Boston, and Kevin Feinblum, previously of Sun Capital. These experienced executives bring retail/consumer, healthcare, industrial and TMT industry expertise to bear and, together with Mr. Franks, underscore Advent’s commitment to building strong teams throughout its global network.
“New York is one of the principal hubs of private equity globally, and our new office there will provide Advent additional access and capabilities on the ground for our programs worldwide,” said Advent Managing Partner David Mussafer. “We have assembled a dynamic group of talented investment professionals from Boston, London and New York to launch our new office in New York under Tim’s leadership.”
“Having worked at Advent for 10 years in London, I believe that maintaining our strong culture is important to our success, and I look forward to building even deeper bonds between our North American and European businesses,” said Mr. Franks. “I am excited to lead the New York team in developing new opportunities for the firm and our investors, strengthening our existing relationships and expanding our network of contacts.”
Advent’s New York office will be located in the historic Seagram building at 375 Park Avenue in Manhattan.