Coller Capital and Abry Partners have successfully closed a $1.6 billion GP-led transaction to create the largest credit continuation vehicle to date for the Abry Advanced Securities Fund III.

Information on the Target

The Abry Advanced Securities Fund III (ASF III) is a comprehensive investment vehicle that primarily targets first lien broadly syndicated loans to U.S. companies. As of December 2023, the fund boasts over 240 positions across more than 210 unique underlying companies. The recent GP-led transaction marks a significant evolution for the fund, creating a continuation vehicle that enhances investment liquidity while facilitating new opportunities for both current and future investors.

The continuation vehicle, valued at $1.6 billion, not only provides complete liquidity options for existing investors but also enables new and returning participants to engage in Abry Partners' upcoming private credit strategy. Abry Partners aims to leverage its extensive experience and market insight to maintain active management of this diverse loan portfolio while seeking additional strategic investments in private debt.

Industry Overview in the Target’s Specific Country

The private equity and credit investment sector in the United States remains robust, characterized by a strong demand for liquidity solutions amidst fluctuating market conditions. Over the past decade, the industry has evolved, with an increasing focus being p