Abbott Capital Management has closed its sixth fund-of-funds with more than $1 billion in capital commitments. The vehicle will invest in VC, growth equity, buyout and special situations funds.
Abbott Capital Management, LLC (“Abbott”) today announced that it has raised in excess of $1.0 billion for Abbott Capital Private Equity Fund VI, L.P. (“ACE VI”) and has met its target for the fund. Like its predecessor funds, ACE VI’s investment strategy is to invest in a diversified pool of venture capital and growth equity, buyout and special situations funds in the U.S. and other developed markets.
Jonathan Roth, Managing Director, commented, “We believe that the level of commitments made to ACE VI confirms our status as a leading independent private equity investment firm. Abbott’s fundraising success demonstrates the value to investors of maintaining established investment disciplines, honed by Abbott throughout various cycles in our industry and over 20 years of history as a firm. With the addition of ACE VI, Abbott now manages assets for over 150 clients and investors worldwide and believes that it has a significant amount of capital available for investment in an environment when other investors may be finding themselves constrained.”
Charles H. van Horne, Managing Director, added, “We are pleased by the support from our investors, both existing and new. It confirms to us that the Abbott recipe – longstanding experience and continuity of staff, along with a dedication to alignment of interest with investors and full independence of decision making – continues to have merit in the private equity market.”
Abbott is a leading independent investment manager specializing in private equity programs for institutional investors worldwide. Abbott manages approximately $6.6 billion, invested in over 200 venture capital and growth equity, buyout and special situations funds. Abbott was founded in 1986 with the objective of providing long-term continuity and accountability for private equity portfolio management. Abbott is owned by its managing directors, who average over 15 years of private equity experience.
For more information, contact Jonathan Roth or Charlie van Horne at Abbott in New York at (212) 757 2700.