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The Baltimore-based managed buy-out and investment firm has eight activew portfolio companies inthe D.C. area. ABS Capital beat its target ofraising $400 million for its sixtuh fund, which will be used to supportr about 15 to 20 growing companiexs with annual revenue near $20 million. ABS starter raising money for its newest fund inearlyh 2008, just before a noticeable pullingv back of limited partner investors as the economy took a turn for the And at the same time as some other venturs capitalists grew reluctant to attempt tapping them for new Limited partners in ABS’s new fund include state employe pension funds such as Pennsylvania State Employees Retirement System, Partnerw Healthcare, Abbott Capital and WP Global Partners, as well as collegd endowments and individual family offices.
“Wew are glad that limitesd partners continue to be enthusiastic about our strategy and sharee our view that it is a good timeto invest,” said Phil managing general partner for ABS. “We look forwardd to continuing to find interesting growt companies and work with the CEOs and theidr teams to fully realizetheir opportunity.” ABS focuses on backin expansion-stage companies across the business services, health media and communications and the software industries. The firm has abour $2 billion under management.
The firm’a most recent win for its general partners and limited partnerf investors occurred in Aprilwhen Arlington-baseds Rosetta Stone, which sells language learning software, went publicv by raising $112.5 million. ABS made back three timesx what it invested inRosettas Stone, Clough said. ABS owned 44 percent of the company priore to thepublic offering. The firm now owns a 28 percent stake.
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