Advent International has closed its seventh fund with $10.8 billion in commitments, marking the largest PE fund raised since the start of the financial crisis in September 2008, according to the Boston firm.

Advent, one of the first private equity firms to invest outside the U.S., was founded in 1984 by Peter Brooke, as the successor to TA Associates, which he had founded in 1968. With offices in 16 countries, Advent focuses on international buyouts, strategic repositioning opportunities and growth buyouts and has raised more than $37 billion over the years.

The new fund, Advent International GPE VII LP, will partner with management teams to grow revenue and earnings of companies in North American and Western Europe. It was launched in March 2012, and Advent has already begun investing out of it.

In August, Advent bought a majority stake in AOT Bedding Super Holdings, the parent company of National Bedding Co. (the majority owner and licensee of Serta) and Simmons Bedding Co., reportedly outbidding Bain Capital and Berkshire Partners and paying $3 billion. In October, Advent agreed to acquire KMD, an information technology company in Denmark for undisclosed terms, and Cytec Industries’ coating resins business, for $1.03 billion.