The single-asset vehicle is centered on Consumer Cellular, a US mobile virtual network operator that GTCR initially backed in 2020.
The alternative debt manager specializes in originating and providing financing solutions to small and middle-market enterprises.
An institutional LP is considering rolling approximately $300 million of existing exposure across two funds into the new vehicle, after participating in the manager's European CV earlier this year.
The single-asset continuation fund was reportedly backed by the California Public Employees' Retirement System, Partners Capital, and Caltech.
Hamilton Lane and Lead Edge are reportedly leading the continuation fund, with CPP Investments committing $50 million to the vehicle.
The single-asset CV was executed alongside the sale of a 50% stake in the Peruvian power generation company to CPP Investments.
The single-asset vehicle extends the infrastructure specialist's hold on a Peruvian private power generation company.
The vehicle is reportedly backed by Singapore's sovereign wealth fund GIC, StepStone, Apollo S3, and Neuberger Berman.
The vehicle was established to acquire a portfolio of mid- to large-cap assets valued at $770 million as of December 2024, with primary exposure to China.
Investors were offered a modest discount on their stakes in the Annington structure ahead of a forthcoming secondary deal.
