The Baltimore-based firm seeks $400 million for the effort and is waiting on a few more commitments before holding a final close in the first quarter. The firm engaged William Blair as an advisor.
The firm has invested almost all of its fifth buyout fund. ABS is a later stage growth company, with holdings in the health care, communications, business services and software industries.
Yesterday it scored a final exit from American Education Group, an online education business it purchased in 2000 for $10 million. That exit is remarkable because it returned 17.1x its money to the firm, and also because it was a public exit. Both seemingly impossible tasks in this market. I plan to speak with a partner at the company later today to get more details on that exit, which returned money to Capital’s fourth fund.