Abry Partners, a Boston-based private equity and credit firm, priced its second collateralized loan obligation (CLO), Abry Liquid Credit CLO 2025-2, LLC (ALC CLO 2025-2). The transaction, with a total issuance of $400 million, follows the successful launch of Abry’s CLO platform and pricing of its inaugural CLO in August 2025.
“We are pleased to announce the pricing of our second CLO, underscoring strong investor confidence and interest in our CLO platform which launched less than three months ago,” Mike Ferrante, managing director and head of Abry Liquid Credit, said. “The transaction attracted participation from 20 unique investors, including 15 who are new to Abry’s CLO platform. We look forward to expanding and deepening our investor relationships as we continue growing our CLO program as part of Abry’s ongoing commitment to providing diversified investment opportunities and driving results across market cycles.”
Key ALC CLO 2025-2 Terms
- $165 million Class A-1 Notes, AAA, 38%, S+131
- $83 million Class A-1 Loan, AAA, 38%, S+131
- $16 million Class A-2 Notes, AAA, 34%, S+157
- $40 million Class B Notes, AA, 24%, S+175
- $24 million Class C Notes, A, 18%, S+210
- $24 million Class D Notes, BBB-, 12%, S+315
- $16 million Class E Notes, BB-, 8%, S+585
Abry’s CLO platform now comprises two transactions, representing $800 million in assets. Abry intends to issue at least three transactions annually as a programmatic CLO issuer. The CLO program is intended to be EU/UK Risk Retention compliant.
