Firm: ABRY Partners
Fund: ABRY Senior Equity Investors III LP
Target: $750 million
Amount Raised: $750 million
Media-focused buyout shop
The firm garnered $750 million from 90 limited partners, according to a regulatory filling, and will receive an initial management fee of 1.5 percent of total commitments, 1.5 percent of “capital under management after a limited investment period,” and carried interest of 20 percent, noted the filing.
Boston-based ABRY Partners specializes in media, communications, business and information services, making investments of $15 million to $50 million worth of mezzanine or senior equity capital per deal. In March, the firm acquired RCN Corp., a broadband services provider, for about $1.2 billion, including the company’s debt, via
Andrew Banks and Royce Yudkoff founded ABRY Partners, whose name is an acronym of their initials, in 1989 after leaving their positions as co-heads of the media practice at consultancy Bain & Co.