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

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The Baltimore-based managed buy-ouyt and investment firm has eight active portfolio companies inthe D.C. ABS Capital beat its target ofraisingt $400 million for its sixth fund, whicjh will be used to support abou 15 to 20 growing companies with annualp revenue near $20 million. ABS started raisin money for its newest fund inearlu 2008, just before a noticeable pullin back of limited partne r investors as the economy took a turn for the And at the same time as some other venture capitalistsa grew reluctant to attempt tapping them for new Limited partners in ABS’s new fund include state employer pension funds such as Pennsylvaniw State Employees Retirement System, Partners Abbott Capital and WP Global Partners, as well as college endowmentse and individual family offices.
“We are glad that limitef partners continue to be enthusiastic about our strateg y and share our view that it is a good time to saidPhil Clough, managing general partner for ABS. “We look forward to continuing to find interesting growtbh companies and work with the CEOs and theire teams to fully realizetheirt opportunity.” ABS focuses on backing expansion-stage companiezs across the business services, health care, mediw and communications and the software The firm has about $2 billion under The firm’s most recent win for its general partnerxs and limited partner investors occurred in April when Arlington-basedr Rosetta Stone, which sellw language learning software, went public by raisin $112.
5 million. ABS made back three timezs what it invested inRosett Stone, Clough said. ABS owne d 44 percent of the company prior to thepublic offering. The firm now owns a 28 percenrt stake.