Advent International, a Boston private-equity firm founded in 1984, has shifted from its initial plan of investing in troubled banks to a focus on banks' back-office technology, specifically transaction processing businesses.
Proposed European Union regulations have U.S. private-equity players buzzing. Most private-equity players acknowledge that if the rules to restrict the use of leverage are enacted, their own activities abroad will be crimped. They also fear that U.S. regulators may follow suit — raising a host of other concerns.
Getting through regulatory hurdles is a tough slog for many private-equity firms that want to buy or start banks, but some have found that having former banking regulators by their side can smooth the way.