1. Abbott Capital: A Leading Private Equity Firm
Tiburon Research
April 16, 2019

2. Abbott Capital Comments Founded in 1986 Based in New York, NY
Web site:
Source: 4/16/19 Abbott Capital Web Site; 3/30/00 Sovereign Conversation (Ratliff); 3/28/00 Sovereign (Ratliff); Tiburon Research & Analysis

3. Abbott Capital History
Abbott Capital was Founded in 1986 and Has Subsequently Evolved Through their Early, Middle, & Recent Phases
Abbott Capital
History
Abbott Capital
Founded
Abbott Capital Today
Early
Phase
Middle
Phase
Recent
Phase
Approximate Dates:
1986
2019
Key Steps:
1986: Abbott Capital as founded
XXXX: --
1995: Closed Fund I
1997: Closed Fund II
XXXX: --
Source: 4/16/19 Abbott Capital Web Site; 3/30/00 Sovereign Conversation (Ratliff); 3/28/00 Sovereign (Ratliff); Tiburon Research & Analysis

4. Abbott Capital’s Fund I Had an Internal Rate of Return of 23.8% on $17.8 Million in Assets in 1995
Comments --
Source: 3/30/00 Sovereign Conversation (Ratliff); 3/28/00 Sovereign (Ratliff); Tiburon Research & Analysis

5. Abbott Capital’s Fund II Had and Internal Rate of Return of 28
Abbott Capital’s Fund II Had and Internal Rate of Return of 28.2% on $248 Million in Assets in 1997
Comments --
Source: 3/30/00 Sovereign Conversation (Ratliff); 3/28/00 Sovereign (Ratliff); Tiburon Research & Analysis

6. Abbott Capital Closed a $730 Million Fund in 2002
Comments --
Source: 5/18/07 Abbott Capital Management Web Site; 1/29/03 The Daily Deal; Tiburon Research & Analysis

7. Abbott Capital was Founded in 1986
Comments
Founded in 1986
Based in New York, NY
Source: 4/16/19 Abbott Capital Web Site; 3/30/00 Sovereign Conversation (Ratliff); 3/28/00 Sovereign (Ratliff); Tiburon Research & Analysis 6 6

8. Abbott Capital is Not a Frequent Advertiser
Advertising
Comments --
Source: Tiburon Research & Analysis 7

9. Abbott Capital Web Site
Abbott Capital Has a Web Site with Six Core Sections, Including About Us, Team, Solutions, Relationships, News & Views, and Contact Us
Abbott Capital
Web Site
Abbott Capital
Web Site
About Us
Solutions
Relationships
Team
News & Views
Contact Us
Source: 4/16/19 Abbott Capital Web Site; Tiburon Research & Analysis 8

10. Abbott Capital is Not a Frequent Acquirer
Acquisitions
Comments --
Source: Tiburon Research & Analysis 9

11. Abbott Capital Has a Charitable Giving Program
Comments --
Source: Tiburon Research & Analysis 10

12. Abbott Capital Has Two Offices
Needs data
Abbott Capital
Offices
Source: Tiburon Research & Analysis 11 11 11

13. Abbott Capital’s Offices Include…-- -- --
Source: Tiburon Research & Analysis 12 12

14. Abbott Capital Has Employees
Needs data
Abbott Capital
Employees
Source: Tiburon Research & Analysis 13 13

15. Abbott Capital Has Raised Funds
Needs data
Abbott Capital
Funds
Source: Tiburon Research & Analysis 14 14 14

16. Abbott Capital Has Institutional Investors
Needs data
Abbott Capital
Institutional Investors
Source: Tiburon Research & Analysis 15 15 15

17. Abbott Capital’s Institutional Investors Include…-- -- --
Source: Tiburon Research & Analysis 16 16

18. Abbott Capital Has Investors
Needs data
Abbott Capital
Investors
Source: Tiburon Research & Analysis 17 17 17

19. Abbott Capital Has Gathered $XX Million Assets Under Management
Needs data
Abbott Capital
Assets Under Management
($ Millions)
Source: Tiburon Research & Analysis 18 18 18

20. Abbott Capital Has Portfolio Companies
Needs data
Abbott Capital
Portfolio Companies
Source: Tiburon Research & Analysis 19 19 19

21. Abbott Capital’s Portfolio Companies Include…-- -- --
Source: Tiburon Research & Analysis 20 20

22. Abbott Capital Generates Revenues
Needs data
Abbott Capital
Revenues
($ Millions)
Source: Tiburon Research & Analysis 21 21 21

23. Abbott Capital Earns $___ Million
Needs data
Abbott Capital
Net Profits
($ Millions)
Source: Tiburon Research & Analysis 22 22 22

24. Abbott Capital Has Two Businesses, Including Funds-of-Funds--
Source: 3/30/00 Sovereign Conversation (Ratliff); 3/28/00 Sovereign (Ratliff); Tiburon Research & Analysis

25. Abbott Capital’s First Business is Funds-of-Funds
Comments --
Source: 3/30/00 Sovereign Conversation (Ratliff); 3/28/00 Sovereign (Ratliff); Tiburon Research & Analysis 24 24

26. Funds-of-Funds Business Funds
Abbot Capital’s Funds-of-Funds Business Has Many Funds-of-Funds, Including Abbot Capital Private Equity Funds I, II, and III
Funds-of-Funds Business
Funds
Abbott Capital Private Equity Fund I
Abbott Capital Private Equity Fund II
Abbott Capital Private Equity Fund III
Closed in 1995
23.8% internal rate of return
Closed in 1997
28.2% internal rate of return
$150 million target
Diversified over 20 buyout, venture capital, special situation funds and some direct investments
More focused on buyout than venture capital funds
$5 million minimum investment
Fees
1% for commitments up to $5 million
0.9% for $5 million to $10 million
0.7% for over $10 million to $20 million
0.5% thereafter with a 10% decline after 8 years
Source: 3/30/00 Sovereign Conversation (Ratliff); 3/28/00 Sovereign (Ratliff); Tiburon Research & Analysis

27. Abbott Capital’s Second Business is…
Comments --
Source: Tiburon Research & Analysis 26 26

28. Abbott Capital is Led by its President Jonathan Roth
Organizational Chart
Jonathan Roth
President --
Source: 4/16/19 Abbott Capital Web Site; Tiburon Research & Analysis

29. Abbott Capital Has a Board of Directors Led by its Chairman…-- -- -- -- -- -- -- -- -- --
Source: Tiburon Research & Analysis

30. Abbott Capital is Privately Owned
Comments --
Source: Tiburon Research & Analysis

31. Abbott Capital Has Assets
Needs data
Abbott Capital
Assets
($ Millions)
Source: Tiburon Research & Analysis 30 30 30

32. Abbott Capital Has Liabilities
Needs data
Abbott Capital
Liabilities
($ Millions)
Source: Tiburon Research & Analysis 31 31 31

33. Abbott Capital Has Shareholders’ Equity
Needs data
Abbott Capital
Shareholders Equity
($ Millions)
Source: Tiburon Research & Analysis 32 32 32

34. Abbott Capital Earns … Per Share
Needs data
Abbott Capital
Earnings Per Share
Source: Tiburon Research & Analysis 33 33 33

35. Abbott Capital Declares … Dividends Per Share
Needs data
Abbott Capital
Dividends Per Share
Source: Tiburon Research & Analysis 34 34 34

36. Abbott Capital Has a … Dividend Yield
Needs data
Abbott Capital
Dividend Yield
Source: Tiburon Research & Analysis 35 35 35

37. Abbott Capital’s Stock Price is …
Needs data
Abbott Capital
Stock Price
Source: Tiburon Research & Analysis 36 36 36

38. Abbott Capital Has … Shares Outstanding
Needs data
Abbott Capital
Shares Outstanding
Source: Tiburon Research & Analysis 37 37 37

39. Abbott Capital’s Market Capitalization is …
Needs data
Abbott Capital
Market Capitalization
($ Millions)
Source: Tiburon Research & Analysis 38 38 38

40. Abbott Capital is Owned by ….
Needs data
Abbott Capital
Ownership
By Owner
Source: Tiburon Research & Analysis 39 39 39

41. Abbott Capital’s Stock Volume is….
Needs data
Abbott Capital
Stock Volume
Source: Tiburon Research & Analysis 40 40 40

42. Tiburon Strategic Advisors
Comments
Focus on corporate-level strategy
Serve senior executives only at financial services companies
Key services: market seminars, market research, & strategy consulting
Served over 450 corporate clients and completed over 2,200 projects since 1998
Host semi-annual CEO Summits, offer free weekly research releases, and offer free business benchmarking tools for all types of advisors
Chip Roame background
McKinsey & Company
Charles Schwab & Company
Tiburon since 1998
Source: Tiburon Research & Analysis