Banner Ridge Partners has closed its oversubscribed fourth secondary fund at a hard cap of $1 billion. Banner Ridge Secondary Fund IV’s limited partners include pension funds and several prominent family offices. Founded in 2010, Banner Ridge focuses on distressed, special situations and credit strategies globally.
NEW YORK, Oct. 21, 2021 /PRNewswire/ — Banner Ridge Partners, a $2.5 billion multi-strategy private equity investment firm, has completed fundraising for Banner Ridge Secondary Fund IV (“BRP IV”) at its hard cap with $1.0 billion of total commitments. BRP IV is the latest fund to be raised as part of the firm’s flagship secondary program. The Fund was oversubscribed, receiving capital commitments from a wide range of institutional investors, including pension funds and several prominent family offices. This is the third fundraise since the firm became an independent business in June 2019.
Since the strategy’s inception in 2010 at its prior firm, the Partners at Banner Ridge have committed over $2.0 billion to over 100 discrete managers focused on distressed, special situations and credit strategies globally. Through primary, secondary and co-investments and by partnering with specialist private equity sponsors in its target market, Banner Ridge will focus on investing in a subset of the market characterized by both complexity and limited access to information.
Anthony Cusano, Co-Founder and Portfolio Manager, said, “The pandemic has created an incredible opportunity for us to make unique secondary investments in a market that rewards both complexity and innovation. We have expanded our investment team to include a broad array of skills, which has led to increased deal flow and better access to information, allowing us to make more informed investment decisions. We are well-positioned to take advantage of the opportunities that arise from being a distressed and special situations specialist. We have made several investments in the Fund and continue to make progress on a robust pipeline of opportunities that align squarely with our proven secondary investment strategy. We are grateful to have been entrusted by an exceptional group of investors and we look forward to continuing our long-term track record of outperformance on their behalf.”
Banner Ridge Partners:
Banner Ridge Partners is a $2.5 billion alternative investment specialist that identifies best-in-class private equity managers in niche markets. The Firm manages discrete investment vehicles for both primary and secondary investment strategies. Banner Ridge is led by a senior team with significant private markets experience. By targeting deep value opportunities, focusing on fragmented markets, and working through structural complexities, we believe we can exceed the investment goals of our clients. To learn more about Banner Ridge, please visit www.BannerRidge.com.