Abbott exceeds US$1bn

Private equity investment manager Abbott Capital Management has closed its sixth fund-of-fund on US$1bn.

Having met its target, Abbott Capital Private Equity Fund VI will continue in the tradition of the firm’s predecessor fund, Fund V, which closed on US$858m and invest in venture capital and growth equity, buyout and special situations funds in the US and other developed markets.

Managing director of Abbott, Jonathan Roth said: “With the addition of ACE VI, Abbott now manages assets for over 150 clients and investors worldwide. It has a significant amount of capital available for investment in an environment when other investors may be finding themselves constrained.”

With headquarters in New York, Abbott manages approximately US$6.6bn, invested in over 200 venture capital and growth equity, buyout and special situation funds.