Growth equity investor ABS Capital Partners has raised $500 million for its seventh fund, ABS Capital Partners VII. The product was rolled out in May and closed on October 27, generating $100 million above the firm’s target.

ABS focuses on investments in later-stage growth companies comprising business and education services, healthcare, media and communications and technology sectors. The firm’s previous fund, which was closed in 2009, had raised $420 million. It has raised more than $2.5 billion in total over a two-decade period.

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