ABRY Launches Drive For Mezz Fund IV

Firm: ABRY Partners LLC

Fund: ABRY Senior Equity IV LP

Target: Unknown

Amount Raised: $25 million

It could not be determined how much the Boston-based shop is seeking to raise for ABRY Senior Equity IV LP. The fundraise was disclosed by the Illinois Municipal Retirement Fund, which made a commitment of $20 million plus $5 million for co-investments. The fund was described in the pension’s materials as being for mezzanine and senior debt investments.

ABRY Partners has pursued mezzanine investment strategies since at least 2002. The predecessor to this fund closed on $750 million in April 2010, according to the Thomson One private equity database.

Known investors include Alaska Retirement Management Board, New York State Teachers’ Retirement System, and the San Francisco City and County Retirement System, according to Thomson One.

ABRY Partners focuses on sectors including broadband services, data centers, health care services, education, motion picture production and video gaming, among others, according to the firm’s Web site. For its “senior equity” strategy, the firm typically invests $15 million to $50 million in a company. It invests in later stage, profitable growth companies, the site says. The firm also pursues buyout and turnaround/distressed debt strategies, according to Thomson One.

ABRY Partners was founded in 1989 by Andrew Banks and Royce Yudkoff, who formed the firm’s name from an acronym of their initials. The pair formerly were co-heads of the media practice at consultancy Bain & Co. ABRY Partners’ site lists more than 30 investment professionals.

Executives did not respond to a request for comment.