Advent International is set to open in Colombia, its third new office in as many years. The Boston-based buyout company is currently in the final stages of setting up in Bogotá.

Advent first entered the Latin American region in 1996, and has since invested in 40 companies across seven countries. At present it invests its Latin American funds principally in Mexico, Brazil and Argentina, where it also maintains offices. Advent closed its Tokyo office in March after failing to make a single investment from the ¥60bn (€523m) fund it raised in 2008.