Abbott Capital Management has raised more than USD1bn for Abbott Capital Private Equity Fund VI, reaching 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 US and other developed markets.
Jonathan Roth, managing director (pictured), says: ‘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, adds: ‘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 an independent investment manager specialising in private equity programmes for institutional investors worldwide. Abbott manages approximately USD6.6bn, invested in over 200 venture capital and growth equity, buyout and special situations funds.
