Boston-based private equity firm Abry Partners is reportedly planning to raise $1.5bn for its third senior debt fund by the end of next month.
Abry does not expect to market the fund for a long time and expects to hold its first and final close on April 30, said Dow Jones.
The fund follows Abry’s $1.2bn Advanced Securities Fund II, which was closed in 2011, three years after it raised $700m for the first fund.
Abry’s debt funds make senior debt capital investments in companies in the media, communications, business, and information services sectors.
These investments are usually first and second lien bank debt securities purchased in the primary or secondary market.
The firm is also reportedly looking to secure $950m of commitments for its new mezzanine debt vehicle.
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