- Previously headed secondaries at Capital Dynamics
- 25 years of experience in directs, secondaries
- Abbott raising at least $1B for latest fund of funds
Cassidy comes to Abbott Capital from Capital Dynamics, where she was a managing director in charge of the firm’s secondary unit. She starts in early May. Nobody at New York-based Abbott Capital was available to speak at press time.
Cassidy’s 25 years of experience in direct and secondary investments, as well as funds of funds, includes work at Overture Capital Partners, Madison Investment Partners, Chemical Venture Partners and Bankers Trust.
In a statement, Cassidy said that Abbott Capital was “a world-class organization known for its long-standing relationships with many of the world’s best private equity and venture capital managers.”
New York-based Abbott Capital, which manages more than $7.5 billion in assets, has launched its latest flagship fund of funds, Abbott Capital Private Equity Fund VII LP, seeking at least $1 billion in commitments. It is the first flagship fund for the firm since 2008, but the firm also has an annual private equity subscription series. The firm was founded in 1986.
Abbott Capital’s funds typically invest across a wide variety of private equity areas, including secondary investments. Other areas include buyouts, venture capital, growth equity and special situations.
Abbott Capital’s past investors have included the New York State Teachers’ Retirement System and the Ohio Police and Fire Pension Fund. Recently, the Orange County Retirement System has made two large commitments to Abbott Capital funds, including a $50 million pledge to the 2013 subscription fund and $45 million to its 2012 subscription fund.