Advent International announces $25m Covid-19 relief fund

The relief fund, provided by senior team members of the private equity house, will help meet the immediate needs of those most affected by the coronavirus pandemic, including local institutions and charities. 

In a letter addressed to the CEOs of its portfolio companies, the GP said the fund will focus on healthcare professionals, first-responders, front-line workers, employees of its portfolio companies, and others in the community impacted by the outbreak.

The letter also highlighted how some of its portfolio companies had been helping to deal with the pandemic.

German outpatient intensive care provider DFG-Bonitas has increased capacity in its intensive care units to help hospitals free up ICU beds for treatment of Covid-19-infected patients.

In the Czech Republic, pharmaceutical company Zentiva has been manufacturing sanitiser to help the country reduce the spread of the virus.

And in Poland, logistics business Integer has been delivering PPE supplies to hospitals and food to healthcare professionals, as well as distributing second-hand computers to children without access to equipment for home-schooling. 

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