Abry Private Debt, Coller Capital Acquire $330M Credit Portfolio

In a significant move within the credit secondaries arena, Abry Private Debt, the specialized credit arm of Abry Partners, has finalized the acquisition of a substantial $330 million private credit portfolio. This strategic transaction saw the firm collaborate with Coller Capital, a prominent player in the private equity secondary market, underscoring the growing sophistication and collaborative nature of credit asset management.

The acquired portfolio is characterized by its robust diversification, predominantly featuring first-lien senior secured loans. These underlying assets span a range of vital economic sectors, including commercial and professional services, healthcare, and consumer discretionary industries. A key aspect of this portfolio is that all its investments are supported by established private equity sponsors, indicating a foundation of experienced oversight and operational backing.

Abry Private Debt intends to adopt an active management approach for this portfolio. This strategy involves direct engagement with the underlying portfolio companies' management teams, as well as ongoing collaboration with existing sponsors and lenders. This hands-on methodology is designed to enhance value and drive favorable outcomes throughout the investment lifecycle, leveraging Abry's established expertise in credit underwriting and capital markets.

“This acquisition represents a distinct strategy in the credit secondaries space,” stated Aaron Gillespie, Co-Head of Abry Private Debt. “Our intention is to build upon our strong relationships with sponsors and lenders, utilizing our underwriting acumen and capital markets capabilities to generate impactful results across the acquired assets. We are pleased to renew our partnership with Coller Capital as we continue to innovate within the credit secondaries market.”

This transaction highlights the increasing maturity of the credit secondaries market, where both investors and asset managers are increasingly integrating secondary solutions into their long-term portfolio management strategies. The ability to efficiently reallocate capital and manage existing exposures is becoming a critical differentiator in today's dynamic financial environment. The private credit market, which has seen substantial growth in recent years, is now a significant component of institutional portfolios, with secondaries offering a vital liquidity and portfolio optimization tool.

The deal builds upon Abry's notable track record in the rapidly evolving credit secondaries sector. Notably, in 2024, with support from Coller Capital, Abry successfully closed the Advanced Securities Fund III Continuation Vehicle. This transaction, valued at $1.6 billion, was at the time the largest GP-led credit secondary deal on record and played a pivotal role in accelerating institutional acceptance of this strategy.

“This acquisition marks another significant milestone in the expansion of Abry's private debt platform,” added Max McEwen, Co-Head of Abry Private Debt. “It directly builds on our prior successes and solidifies our leading position in this market.” Martins Marnauza, Partner at Coller Capital, commented, “We are delighted to collaborate with the Abry team once again, following our landmark $1.6 billion GP-led transaction in 2024. Aaron and Max have consistently demonstrated their capacity to deliver unique investment value within the highly competitive private credit arena.”