Jon Feinberg, Managing Partner and Head of Distribution for ABS Global Investments, joined Julie Cooling, Founder and CEO of RIA Channel, at the 2026 ABS Global Investments Annual Conference to discuss The Pre-IPO and Growth Fund (IPOSX) and the growing investor interest in late-stage private markets as companies stay private for longer.
After more than 15 years of investing in private co-investment opportunities through its general partners, ABS launched The Pre-IPO and Growth Fund IPOSX, which Feinberg describes as a strategy consisting of 80% private markets and 20% late-stage public equity growth. He adds that this structure provides investors with exposure to late-stage private markets while maintaining liquidity through an interval fund structure.
The portfolio includes well-known private companies such as Databricks, Anthropic, Canva, Revolut, and Rippling. Feinberg emphasizes that ABS takes an intentional approach to portfolio construction, focusing on 10 to 20 high-conviction companies that are either filing to go public or approaching a liquidity event. After each IPO, the cash equity is recycled back into the fund to create additional vintage-year exposure. He adds that because the strategy focuses on late-stage companies, most investments are expected to reach a liquidity event within one to three years.
As of 9/4/26, the Fund’s holdings in the companies referenced above represented the following percentages of net assets: Databricks – 6.2%; Anthropic – 7.4%; Canva – 3.3%; Revolut – 3.8%; Rippling – 2.7%. Holdings are subject to change at any time and should not be considered a recommendation to buy or sell any security.
Beyond pre-IPO investing, Feinberg also highlights ABS’ emerging markets strategies, which leverage locally based investment managers to generate differentiated stock selection across global markets.
Definitions
Round D (Series D): A later-stage private fundraising round. By the time a company raises a Series D, it typically already has a proven product, meaningful revenue, and prior institutional backing (Series A through C); the round is generally used to raise growth capital to scale further ahead of a potential IPO or acquisition, rather than early-stage startup funding.
Alpha: A measure of the return an investment generated above what would be expected given the risk taken and the performance of a relevant benchmark. Positive alpha suggests a manager’s decisions added value beyond simple market exposure; negative alpha suggests the opposite.
Beta: A measure of how sensitive an investment’s price is to overall market movements. A beta of 1 means it tends to move in line with the market; above 1 means more volatile than the market; below 1 means less volatile.
Resources:
ABS Global Investments Manager Channel
Disclosures
Investors should carefully consider investment objectives, risks, charges and expenses before investing. For this and other information about the Fund, please call (877) 499-9990 or download at preipo.absinv.com. Read the prospectus carefully before investing or sending money.
The Fund is a closed-end interval fund. An investment in the Fund is speculative, involves a high degree of risk, and is not suitable for all investors. The Fund is suitable only for investors who can bear the risks associated with the limited liquidity of the Fund and should be viewed as a long-term investment. The Fund will invest in highly illiquid investments. Although the Fund intends to offer limited quarterly repurchase offers, repurchases are subject to conditions, may be suspended or modified, and may be funded through borrowings or asset sales at unfavorable prices. Investors may lose some or all of their investment. The Fund invests primarily in private, illiquid, and difficult-to-value investments, including private equity (ownership stakes in companies not publicly traded on a stock exchange), venture capital (early- to late-stage investments in high-growth private companies), SPVs (special purpose vehicles, which are separate legal entities used to hold individual investments), and pooled investment vehicles, and generally has limited control and transparency over underlying investments.
Paralel Distributors LLC, Member Firm. Paralel is unaffiliated with ABS Global Investments and the RIA Channel.