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ABS Capital Partners launches Fund VIII, targets $400m

Fund VIII will follow its predecessor by focusing on growth in healthcare, TMT and business services.

Maryland-based ABS Capital Partners has launched its eighth fund targeting $400 million, according to the firm's filing with the US Securities and Exchange Commission.

Fund VIII is a growth fund and will focus on healthcare, TMT and business services sectors, alongside parallel fund ABS Capital Partners VIII-B, according to PEI's Research & Analytics division.

Its predecessor, Fund VII, closed in 2012 on $531 million, surpassing its initial $400 million target. It had a similar strategy and sector focus. Its investors included Johns Hopkins University, the Employees' Retirement System of the State of Hawaii, The Wellcome Trust, WP Global Partners, Partners Healthcare System, Top Tier Capital Partners and Mathile Family Foundation.

Founded in 1990, ABS invests between $10 million and $40 million in later-stage growth companies with revenues of between $20 million and $100 million, according to PEI's Research & Analytics division. It manages $1.18 billion in assets.

Illinois-based Shannon Advisors served as the placement agency for Fund VIII.

A spokesperson for ABS was not immediately available to comment.