Abry Partners, a Boston-based private equity and credit firm, priced its third collateralized loan obligation (CLO), Abry Liquid Credit CLO 2026-3 (ALC CLO 2026-3). The transaction, with a total issuance of $407 million, continues the momentum of Abry’s programmatic CLO platform, following successful pricings in August and November 2025.
“We are pleased to announce the pricing of our third CLO, which reflects continued investor confidence in our platform and the disciplined execution of our liquid credit strategy,” Jonathan Barry, head of CLO structuring at Abry, said. “This transaction further tightens our weighted average cost of capital as we aim to drive strong returns for our LPs across market cycles. We look forward to deepening our investor relationships and continuing our commitment to programmatic issuance, targeting three or more transactions annually.”
Key ALC CLO 2026-3 Terms
- $252 million Class A-1 Notes, AAA, 37%, S+123
- $12 million Class A-2 Notes, jAAA, 34%, S+143
- $40 million Class B Notes, AA, 24%, S+150
- $24 million Class C Notes, A, 18%, S+185
- $24 million Class D-1 Notes, BBB-, 12%, S+280
- $4 million Class D-2 Notes, jBBB-, 11%, S+380
- $12 million Class E Notes, BB-, 8%, S+490
Abry’s CLO platform now comprises three transactions, collectively representing $1.2 billion in assets. The CLO program is intended to be EU/UK Risk Retention compliant.
