ABS Capital closes $420M fund - Washington Business Journal:

judonebolayb1394.blogspot.com
The Baltimore-based managed buy-out and investmeny firm has eight active portfolio companiess inthe D.C. area. ABS Capital beat its target ofraising $400 million for its sixth fund, which will be used to suppor t about 15 to 20 growingy companies with annual revenue near $20 million. ABS started raisinb money for its newest fund in early just before a noticeable pulling back of limitee partner investors as the economy took a turn for the And at the same time as some other venturse capitalists grew reluctant to attempt tapping them for new Limited partnersin ABS’s new fund include statse employee pension funds such as Pennsylvania State Employees Retirement Partners Healthcare, Abbott Capital and WP Globa Partners, as well as colleger endowments and individual famil offices.
“We are glad that limited partners continued to be enthusiastic about our strategh and share our view that it is a good time to saidPhil Clough, managing general partner for ABS. “We look forwarc to continuing to find interesting growth companiee and work with the CEOs and theirf teams to fully realizretheir opportunity.” ABS focuses on backint expansion-stage companies across the business health care, media and communications and the softwarre industries. The firm has about $2 billion undedr management.
The firm’s most recent win for its general partnerds and limited partner investors occurred in Aprilwhen Arlington-bases Rosetta Stone, which sells language learning went public by raising $112.5 ABS made back three times what it invested in Rosetta Stone, Clough ABS owned 44 percent of the compan y prior to the public offering. The firm now owns a 28 percen stake.