Advent Sets Up In Prague

Jun 7 2007 | 11:37am ET

Global buyout shop Advent International recently set up a new office in Prague, Czech Republic. The firm, which has invested in the Czech and Slovak republics since the mid-1990s, said it decided to set up a regional center in the city to cover investment in those countries and Hungary.
The new office is led by partner Chris Mruck, who joined the firm in 1997 and has led or been closely involved in a number of the firm’s Central European investments. The Prague team includes Michal Aron, who joined Advent in January 2006, and Milan Kulich, who joins this summer from Deloitte Central Europe, where he is assistant director, working on M&A and restructurings in Central European unquoted companies.

“We have seen significant change in this region in our 13 years actively investing here,” said Mruck. “Some CEE countries have been EU members since 2004, others only since 2007 (Bulgaria and Romania), but they all, including Turkey and Ukraine, are still changing at an enormous pace and working hard to offer an attractive investment environment for funds such as ours. It makes sense for us to reorganize our offices to be best-placed for the next phase of development of the region.”

Advent was founded in 1984 and has raised $10 billion in private equity capital since inception.

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