Changing times

Advent International was established in 1984 and since then has invested in more than 500 companies in 35 countries across Western and Central Europe, North America, Latin America and Asia Pacific. Since inception, the firm has raised more than $6 billion in capital and closed its most recent global buyout fund in April this year with commitments of €2.5 billion ($3.3 billion). Tom Lauer came on board in 1987 with no experience in private equity. He has overseen the financial dimension of Advent's transition from a small venture firm to today's global, multi-fund manager that boasts over 100 investment professionals of 19 nationalities in 14 offices and 13 countries. With responsibility for the financial management of the firm's worldwide operations and a member of Advent's Executive Committee, he describes the highs and lows, challenges and opportunities that have marked his almost two decades as a CFO in private equity.