51571 - ADVENT LATIN AMERICAN PRIVATE EQUITY FUND VIII SCSP

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Summary of Investment Information

Project Number

51571

Company Name

ADVENT LATIN AMERICAN PRIVATE EQUITY FUND VIII SCSP

Date SPI Disclosed

Nov 10, 2025

Country

Latin America and the Caribbean Region

Region

Latin America and the Caribbean

Projected Board Date

Dec 10, 2025

Environmental Category

FI-2 - Limited

Status

Pending Signing

Last Updated Date

Dec 24, 2025

Department

Equity Portfolio Management

Industry

Funds

Previous Events

Approved : Dec 23, 2025

Sector

Growth Equity Fund

Project Description

The proposed investment is for up to US$75 million, capped at 20% of total commitments, along with a co-investment envelope of up to US$50 million (subject to discretion and available deal flow), into Advent’s Latin American Private Equity Fund VIII SCSp (the “Fund”), which will invest in control-oriented buyouts and recapitalizations across Latin America, with a primary focus on Brazil, Colombia and Mexico. The Fund will seek to invest in targeted sectors and sub-sectors where Advent has substantial experience. The Fund’s sector focus includes (i) business & financial services, (ii) healthcare, (iii) industrial, (iv) retail, consumer & leisure, and (v) technology.

The Fund is managed by Advent International Fund Manager S.à.r.l., a subsidiary of Adven International, L.P. (“Advent”). The Fund’s strategy involves taking control-oriented economic stakes with ticket sizes expected to range from US$50 million to US$300 million.

Associated Advisory Engagement

There are no advisory services associated with this engagement.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	125.0

Development Impact

The Fund is expected to increase access to PE capital and value-creation for companies in Latin America, including companies that are female-owned/led. The Fund will seek to create value for these companies while delivering key outcomes at scale. Beyond the project, the Fund’s success could help re-establish the commerciality of Latin America’s PE market to investors that have pulled back in recent times. In turn, this could encourage existing fund managers to raise follow-on Latin America-focused funds and deepen the Latin American PE market.

IFC’s renewed engagement with Advent will provide additional reassurance to other investors and underscore the Fund’s ongoing commitment to robust E&S, integrity and governance policies. IFC will work with Advent to strengthen the Fund’s E&S standards, ensure Paris Alignment and promote improved access to economic opportunities for women at both the Fund level and across its portfolio companies. In addition, IFC will support Advent in the continued development of an impact framework designed to enhance the Fund’s ability to achieve meaningful impact across its main investment segments.

Indicator	Metrics	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Median Investee IRR : investees	%	Not Available	Not Available	Not Available
Percentage of Investees That Are Female Owned/Led	women	Not Available	Not Available	Not Available
Percentage of Investees With Revenue Growth 5 Pps Higher Than Nominal Gdp Growth : investees	%	Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

E&S risks are expected to be medium and potentially related to Occupational Health and Safety (OHS) and labor conditions, impacts on communities and biodiversity, and potential Gender Based Violence and Harassment (GBVH), child safety, data security, resource efficiency and pollution prevention. The project has therefore been categorized as FI-2. IFC will opt out from higher E&S-risk transactions, coal-related and K-12 activities. Applicable requirements for the project include IFC’s Exclusion List, local E&S laws and regulations, and the Performance Standards (PSs).

Advent was an IFC client in Advent Latin America Fund II (2001) and Advent Latin America Fund III (2005), both of which closed before IFC launched the 2012 PSs. Advent benefits from a global Sustainability team that oversees E&S aspects throughout the investment cycle, providing E&S resources to investees and coordinating monitoring and reporting activities. While there is currently no dedicated E&S specialist based in Advent’s Latin American offices, Advent demonstrates a mature E&S culture and a strong commitment to responsible investment. Advent’s approach to E&S aspects during the investment cycle is primarily focused on value creation rather than risk management. While formal documentation of screening, assessment and monitoring processes is limited, Advent’s practices reflect a thoughtful integration of E&S consideration. Advent’s current Sustainability team is in the process of building experience with the application of IFC’s E&S requirements throughout the investment process. Advent’s Human Resource policies and procedures are generally aligned with IFC PS2.
As part of the Project, Advent will seek to further strengthen its E&S framework, including the following measures: (i) developing and implementing an Environmental and Social Management System (“ESMS”) with fit-for-purpose procedures to screen and categorize sub-projects, and adopting a risk-based approach according to IFC E&S requirements throughout the investment cycle, with the support of an external consultant to assist in ESMS development and to undertake investee ESDDs; (ii) screening all subprojects against the IFC’s Exclusion List, applicable E&S laws and regulations, and the IFC PSs; (iii) appointing and assigning an E&S Officer with experience in IFC PSs to be based in one of Advent’s Latin American offices; (iv) continuing to build internal E&S capacity through targeted training in ESMS implementation and IFC PSs; (v) enhancements to the External Communication Mechanism; and (vi) providing periodic reports to IFC.

S.no	Title	Anticipated Completion Date
1	Build capacity for Environmental and Social Management System (ESMS) development and implementation	03/31/2026
2	Enhanced ESMS	03/31/2026
3	Implement staff training	04/30/2026
4	External Communication Mechanism (ECM) enhancement	03/31/2026

Contacts

For Inquiries About the Project, Contact

Advent International
Yusef Kassim
Partner

YKassim@adventinternational.com

https://www.adventinternational.com

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IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

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Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

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This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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