ABRY Partners Closes Media Debt Fund
March 3, 2009- Share:
ABRY Partners has closed its ABRY Advanced Securities Fund at $700 million. The fund will make investments in first and second-lien debt of non-investment grade media companies. The firm plans to use about 25% leverage for its investments and has set a target gross return of 20%. Limited partners in the fund include HarbourVest Partners, Pennsylvania State Employees Retirement System, and the San Francisco Employees' Retirement System.
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