ABRY Partners, LLC (the “Management Company”), a Delaware limited liability company and a registered investment adviser, and its affiliates (collectively, “ABRY”) provide investment advisory services to private investment funds. The Management Company and certain of its affiliates commenced operations in 1989. The following investment advisers are affiliated with the Management Company: ABRY V Capital Partners, L.P.; ABRY VI Capital Partners, L.P.; ABRY Senior Equity Investors II, L.P.; ABRY Senior Equity Investors III, L.P.; ABRY ASF Investors, L.P.; ABRY ASF Investors II, L.P.; ABRY Investment GP, LLC; ABRY Senior Equity Co-Investment GP, LLC; and ABRY Senior Equity Co-Investment GP III, LLC (each, a “General Partner,” collectively, the “General Partners,” and together with the Management Company, the “Advisers”). Each General Partner is subject to the Advisers Act pursuant to the Management Company’s registration in accordance with SEC guidance. This Brochure describes the business practices of the Management Company and each General Partner, which operate as a single advisory business. The Management Company is also affiliated with: ABRY Partners II, LLC (“ABRY Partners II”) whose employees provide services to ABRY Investment AI GP, LLC; ABRY Investment II GP, LLC; ABRY Partners VII Co-Investment GP, LLC; ABRY VII Capital Partners, L.P.; ABRY Partners VIII Co-Investment GP, LLC; ABRY VIII Capital Partners, L.P.; ABRY Partners VIII Co-Investment GP (Cayman AIV), LLC; ABRY VIII Capital Partners (Cayman AIV), L.P.; ABRY IX Capital Partners, L.P.; ABRY Partners IX Co-Investment GP, LLC; ABRY Senior Equity Investors IV, L.P.; ABRY Senior Equity Co-Investment GP IV, LLC; ABRY ASF Investors III, L.P.; ABRY ASF Investors IV, L.P.; ABRY Heritage Capital Partners, L.P.; ABRY Heritage Partners Co-Investment GP, LLC; ABRY Senior Equity Investors V, L.P.; ABRY Senior Equity Investors VI, L.P.; ABRY Acquisition Manager, LLC; ABRY Senior Equity Co- Investment GP V, LLC; ABRY Senior Equity Co-Investment GP VI, LLC; ABRY Heritage Partners Co-Investment GP (Cayman AIV), LLC; ABRY Heritage Capital Partners (Cayman AIV), L.P.; ABRY Heritage Capital Partners II, L.P. and ABRY Heritage Partners Co-Investment GP II, LLC (each, an “ABRY II Adviser”). ABRY Partners II is a separately registered investment adviser and management company and each of the other ABRY II Advisers is subject to the Advisers Act pursuant to ABRY Partners II’s registration in accordance with SEC guidance. The Advisers’ clients include the private investment funds listed below (each, a “Fund,” and collectively, with any other current or future private investment funds to which the Management Company and/or its affiliates provide investment advisory services, including Co- Investment Funds (as defined below) and alternative investment vehicles, the “Private Investment Funds”). Equity Funds
• ABRY Partners V, L.P.
• ABRY Partners V Affiliated Investors, L.P.
• ABRY Partners VI, L.P. Senior Equity Funds
• ABRY Senior Equity II, L.P.
• ABRY Senior Equity II-A, L.P.
• ABRY Senior Equity III, L.P. Senior Debt Funds
• ABRY Advanced Securities Fund, L.P.
• ABRY Advanced Securities Investments, L.P.
• ABRY Advanced Securities Fund II, L.P. Co-Investment Funds
• ABRY Investment Partnership, L.P.
• ABRY Senior Equity Co-Investment Fund, L.P.
• ABRY Senior Equity Co-Investment Fund III, L.P. Pursuant to each Fund’s agreement of limited partnership (each, a “Partnership Agreement”), the applicable General Partner (or board of directors) has the authority to manage the business and affairs of the Funds. Each General Partner (or board of directors) has delegated, subject to its oversight, day-to-day responsibility for the management and operations of the applicable Fund to the Management Company pursuant to management agreements between the General Partners and the Management Company (each, a “Management Agreement”). Pursuant to a management agreement between the Management Company and ABRY Partners II, ABRY Partners II provides certain advisory services to the Management Company. Interests in the Funds are privately offered to qualified investors in the United States and elsewhere. The investment advisory services provided to the Funds by the Advisers consist of identifying and evaluating investment opportunities, negotiating the terms of investments, managing and monitoring investments and ultimately selling such investments. The Equity Funds and the Senior Equity Funds are private equity funds and invest through negotiated transactions in operating entities. The Senior Debt Funds are private funds that make investments primarily in senior debt securities generally employing total return swaps (“TRS”) entered into with unaffiliated counterparties to obtain exposure to such debt securities in lieu of the applicable Senior Debt Fund holding such securities directly. Except for

the Senior Debt Funds, each Fund invests predominantly in non-public companies, although each Fund may invest in public companies, subject to certain limitations set forth in such Fund’s Partnership Agreement. The Equity Funds generally seek to take a controlling position when investing in a portfolio company, and generally at least one principal (a “Principal”) or other ABRY investment professional serves on a portfolio company’s board of directors in order to represent the applicable Fund’s interests in the portfolio company. The Senior Equity Funds typically do not take controlling positions in portfolio companies but seek to place at least one ABRY Principal or other ABRY professional on the portfolio company’s board. The Advisers’ advisory services to the Funds are detailed in the applicable private placement memoranda, the Management Agreements and the Partnership Agreements (collectively, the “Fund Documents”) and are further described below under Item 8 “Methods of Analysis, Investment Strategies and Risk of Loss.” Investors in Private Investment Funds (generally referred to herein as “investors” or “limited partners”) participate in such Fund’s overall investment program, but in certain circumstances are permitted to be excused from a particular investment due to legal, regulatory or other applicable constraints; such arrangements generally do not and will not create an adviser-client relationship between the Advisers and any investor. Each Fund or its General Partner typically enters into side letters or other similar agreements with certain investors that have the effect of establishing rights under, altering or supplementing the Partnership Agreement, the investor’s subscription agreement or other Fund Documents, including providing informational rights, addressing regulatory matters with respect to such investors, effectively excusing such investors from participating in certain types of investments, varying economic terms or fee structures, providing transfer rights and offering co-investment-related provisions. Certain of the Advisers serve as an investment manager to Co-Investment Funds structured to facilitate investments by affiliated co-investors alongside the primary Funds on a fixed pro-rata basis with the commitments to such vehicles generally being variable on an annual basis. To the extent that a particular investment opportunity, in the Advisers’ sole discretion, exceeds the desired allocation to a Fund in the aggregate in view of investment size, type, available capital, diversification, location, holding period and other relevant considerations, the Advisers may offer additional co-investment opportunities to other persons or firms who the Advisers or their affiliates believe will be of benefit to the Funds, including certain current or prospective investors, other sponsors, market participants, finders, consultants and other service providers. The Advisers may also organize one or more co-investment funds to co-invest alongside the Funds to facilitate personal investments by such persons or firms and by partners, officers and employees and their related parties and associates of the Advisers or of control entities, including the Co-Investment Funds. The Advisers may also facilitate co-investments directly into a portfolio company. Co- Investment Funds typically invest and dispose of their investments in the applicable portfolio company at the same time and on the same terms as the Private Investment Fund making the investment. The Advisers and their affiliates may elect not to charge a management fee to or receive carried interest from such Co-Investment Funds. While the Advisers and any of their affiliates may charge carried interest, management and other fees to any co-investors, including the Co-Investment Funds, certain of the Co-Investment Funds do not pay management fees or carried interest. In addition to the foregoing, the Advisers serve as the investment managers to a number of special purpose vehicles through which several Funds have invested. The Advisers generally form special purpose vehicles to facilitate portfolio investments by Funds for tax, regulatory, or economic purposes. The Adviser that acts as the investment manager to a particular special purpose vehicle is determined on the basis of the Fund that invests through such special purpose vehicle. In addition, the Advisers, either directly or indirectly through a special purpose vehicle, may engage in TRS which allow the Senior Debt Funds to derive the economic benefit of owning an asset without retaining legal ownership of such asset. Finally, in connection with certain investments, the Advisers may employ hedging techniques designed to reduce the risks of adverse movements in interest rates, securities prices, and currency exchange rates. As of December 31, 2022, the Management Company had approximately $502,938,828 in client assets under management. The Management Company’s ultimate principal owner is Royce Yudkoff.