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ABRY Partners targets $1.9bn for Fund VIII

10 Jul 2014

bostonnnPrivate equity firm ABRY Partners is reportedly seeking $1.9bn for its eighth fund, which was launched in spring.

The Boston-based firm expects the fundraise to be “quick and quiet”, which is its usual way of operating, said PeHUB, citing LP sources.

ABRY is disciplined about increasing fund sizes, which investors appreciate, said one LP, adding that limiting fund size leaves little room for new investors.

The new fund follows ABRY’s seventh flagship vehicle, which held a final close on $1.6bn in 2011.

ABRY Partners VII was generating a cash return of 1.17 times and an IRR of 12 per cent as at the end of last year, according to data from the Indiana Public Retirement System.

Last month AltAssets reported that the Illinois Municipal Retirement Fund approved a commitment of up to $35m to ABRY Partners VIII.

The retirement system currently has direct commitments of $20m to ABRY Senior Equity IV and $35m to ABRY Advanced Securities II.

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