Solutions

Abbott builds and manages commingled funds and separately managed accounts of diversified and specialized private equity portfolios consisting of primary and opportunistic investments across the spectrum of strategies – venture capital, growth equity, buyout, and special situations. Abbott currently offers the following private equity solutions to institutional investors:

Abbott’s Annual Program (“Annual Program” or “AP Funds”)

Abbott developed its first core, diversified commingled fund in 1995 to provide professionally managed customizable core private equity solutions. The Annual Program Funds are Abbott’s latest core, diversified offering, having been first formed in 2007, and organized annually since then.  The Abbott Capital Annual Program Funds are a series of commingled investment vehicles organized by Abbott each year and are designed to provide institutional investors with the ability to participate in private equity investments through the creation of diversified, core portfolios of buyout, special situations, venture capital, and growth equity funds, which should in turn provide access for investors to thousands of private businesses at various stages of development employing capital received from outside the traditional securities markets.

Investors in the Annual Program Funds are given the flexibility to select (1) a core asset allocation pre-determined and offered by Abbott on an annual basis, or (2) an individual customized allocation across carefully selected specialized strategies.  In addition, regardless of an investor’s individual strategy allocation, the Annual Program Funds are expected to commit a portion of their capital to Opportunistic Investments.

Abbott’s Annual Program Funds seek to build portfolios diversified by industry, geography and stage, as well as by vintage year, style, and size of portfolio company investment. The AP Funds are offered annually to accommodate investors who want to make a commitment decision each year.  The diversified portfolio construction strategy expected to be pursued by the AP Funds is intended to be consistent with Abbott’s historical approach to core, diversified private equity investing, a process honed over 30 years.

Abbott Secondaries Capabilities

Abbott made its first secondary purchase in 1987, and has continued to make many secondary purchases over its 30‐year history, frequently making secondary investments in its diversified portfolios of private equity interests. In 2017, Abbott held a final close on its first dedicated commingled secondaries fund, Abbott Secondary Opportunities, L.P. (“ASO”), with over $200 million in commitments. Abbott opportunistically invests in attractive secondary investment opportunities across a variety of transaction types, including single fund purchases, follow-on capital, portfolios of multiple fund interests, and restructurings. Historically, Abbott has focused on smaller transactions, as well as complex deals where there may be less competition than is often evident in a larger auction process and Abbott may be able to exercise greater selectivity. These smaller transaction sizes have formed the core of Abbott’s secondary activity since 1987.

Separately Managed Accounts

Abbott has managed separate accounts for clients since 1987. During that time, we have helped pension plan staff and trustees implement private equity solutions based on the individual client’s investment objectives and portfolio construction parameters. As of June 30, 2018, Abbott manages actively investing separate accounts for six institutional investors, representing over $5 billion in AUM.

Depending on the client’s preferences, Abbott has the ability to build fully customizable separately managed accounts, structured as a traditional separate account, or as a fund-of one. For separately managed accounts, Abbott generally works with the client to design portfolio construction guidelines, including investment objectives, constraints, and preferences, as well as fulfilling monitoring and reporting obligations.