Abbott Capital launches $1bn fund of funds


dollar 20_sqNew York-based private equity firm Abbott Capital has launched its seventh fund of funds, roughly a third of which is expected to be raised from offshore investors.

The Abbott Capital Private Equity Fund VII is targeting $1bn and has yet to register any commitments, according to documents filed with the US Securities and Exchange Commission.

The fund is being raised via two vehicles, one of which is registered in the Caymans. The filings show that the offshore fund is looking to raise $300m, which is included in the $1bn target.

Abbott managing director Charles H. van Horne said he was unable to comment on the fundraise.

Abbott has a total of almost $7bn of assets under management.

The firm has focused exclusively on private equity, venture capital and special situations fund investments since it was founded in 1986.

Early in 2013 the firm launched the Abbott Capital Private Equity Investors 2013 fund.

LPs in previous funds have included the Orange County Employees’ Retirement System and the New York State Teachers Retirement System.

Copyright © 2013 AltAssets