Hamilton Lane and Lead Edge are reportedly leading the continuation fund, with CPP Investments committing $50 million to the vehicle.
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.
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 is centered on Consumer Cellular, a US mobile virtual network operator that GTCR initially backed in 2020.
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.
