Abry Partners has set a $2.1 billion target for the firm's ninth flagship fund, according to an SEC filing. The vehicle's predecessor brought in $1.9 billion in 2014, while the firm's seventh flagship effort closed on $1.6 billion in 2011. Founded in 1989, Abry (formerly stylized ABRY) targets investments worth between $20 million and $200 million in a range of sectors, including broadband, business services, communications and cybersecurity.
While Abry typically doesn't participate in mega-deals, the firm has made up for it in quantity, with nearly 500 investments since the start of 2009, per the PitchBook Platform. The Boston-based investor increased its annual deal count every year from 2009 to 2016, reaching a high of 87 transactions, but it's been more selective the past 24 months, with 66 completed private equity deals in 2017 and 41 so far this year.