ABS Capital Partners Nearing Close On Sixth Fund

ABS Capital Partners has raised $350 million toward its sixth middle-market buyout fund, a source familiar with the situation told peHUB.

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.

Read more: ABS Scores 17x Return on American Public Education, Fewer IPOs Going Back For Seconds