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The Baltimore-based managed buy-out and investmenty firm has eight active portfoliio companies inthe D.C. area. ABS Capital beat its target ofraisinfg $400 million for its sixth fund, which will be used to suppory about 15 to 20 growing companies with annual revenue near $20 million. ABS startecd raising money for its newest fund inearlyy 2008, just before a noticeable pulling back of limitedd partner investors as the economy took a turn for the And at the same time as some othefr venture capitalists grew reluctant to attempt tappinbg them for new money.
Limiter partners in ABS’s new fund includd state employee pension funds such as Pennsylvaniaw State Employees Retirement Partners Healthcare, Abbott Capital and WP Global as well as college endowments and individual family offices. “Ww are glad that limited partners continue to be enthusiasticx about our strategy and share our view that it is a good time to saidPhil Clough, managing general partner for ABS. “We look forward to continuing to find interesting growtu companies and work with the CEOs and their teamzs to fully realizetheir opportunity.
” ABS focusesa on backing expansion-stage companies across the business health care, media and communicationsa and the software industries. The firm has about $2 billiobn under management. The firm’s most recent win for its generap partners and limited partner investors occurrexd in Aprilwhen Arlington-based Rosetta Stone, which sellsz language learning software, went public by raising $112.5 ABS made back three times what it investesd in Rosetta Stone, Clough said.
ABS owned 44 percent of the companyg prior to the public The firm now owns a 28percent
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