Abry Partners is seeking $625m from investors for its second fund targeting investments in lower midmarket companies, according to people familiar with the fundraising efforts.
If the firm reaches its target, the new fund would be around 19% larger than its predecessor, Abry Heritage Partners LP, which closed with $525 million of investor capital in 2016.
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Abry is a sector-focused private equity investment firm in North America. Since its founding in 1989, the firm has completed over $82bn of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5bn of capital across its active funds.
Source: Wall Street Journal
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