Coller Capital, Abry Parners Close $1.6B Continuation Vehicle 

Coller Capital, a private market secondaries specialist, and Abry Partners, a private equity and credit firm, have closed a GP-led transaction for a $1.6 billion credit continuation vehicle. 

Abry Advanced Securities Fund III, a portfolio comprised of first lien broadly syndicated loans to U.S. companies, represents the largest fund of its type ever created, according to Coller Capital, and is designed to provide full liquidity to Abry’s existing investors. It will also provide new and continuing investors with the opportunity to seed Abry Partners’ new private credit strategy.  

As of December 2023, the fund comprised over 240 positions across more than 210 unique underlying companies. 

The deal was a “full liquidity option to our limited partners in a market environment where liquidity has been scarce,” Abry CEO C.J. Brucato said. 

Abry currently oversees $5 billion in senior debt, structured equity, and private equity investments. As per regulatory filings, Abry Advanced Securities Fund III was established in 2014 with an objective of raising $1.5 billion. More than 200 companies had received loans from the fund as of December.   

Campbell Lutyens acted as financial advisor to Abry, with Kirkland & Ellis serving as Abry’s legal counsel. Debevoise & Plimpton LLP served as legal counsel for Coller Capital.