‘Complexity is Our Friend’: James Brocklebank on Advent's Private Equity Strategy

‘Complexity is Our Friend’: James Brocklebank on Advent's Private Equity Strategy – Goldman Sachs Exchanges

Market views

Bullish

AI— Advent views AI as transformative across all businesses and has invested heavily in internal AI capabilities including their own LLM (Advent GPT) and intelligence engine. They see AI transformation as fundamental to portfolio company value creation and are excited about its profound implications.
DEFENSE— Advent has been an early mover in defense sector, attracted by long-term contracted cash flows, defensive business characteristics, and great technology. They've pivoted to next-generation defense businesses including Shield AI and Sironic, showing conviction in innovation within defense technology.
PAYMENTS— Advent has deep conviction in the payments sector with $11.6 billion invested across 19 companies since 2008. Their extensive experience and quasi-strategic understanding of the subsector demonstrates strong structural belief in payment company opportunities.
INDIA— Advent announced plans to invest $5-10 billion in India over five years, viewing it as an exciting opportunity driven by financial penetration, emerging middle class, and strong growth dynamics.
ASIAPACIFIC— Asia Pacific is projected to account for 50% of global GDP growth with trade share increasing from 7% to 35% over 25 years. Advent sees growing acceptance of private equity and control buyouts creating opportunities across India, China, Japan, and Australia.
PE— Advent views complexity and challenging market conditions as opportunities for private equity, believing the best deals are made in non-benign conditions. They see carve-out opportunities emerging as large companies reassess portfolios during uncertain times.

Not investment advice.

Mentioned

Market views