Banner Ridge Raises $550 Million In Oversubscribed Secondary Fund III
NEW YORK, Feb. 4, 2020 /PRNewswire/ -- Banner Ridge Partners, a multi-strategy private equity investment firm, has completed fundraising for Banner Ridge Secondary Fund III ("BRP III") at its hard cap with $550 million of total commitments. BRP III, the firm's flagship debut secondary fund, completed its fundraising after just four months of marketing and was oversubscribed. BRP III received capital commitments from a wide range of institutional investors, including public pension funds, RIAs and several prominent family offices. This is the first 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 $1 billion to approximately 80 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 with limited access to information.
Anthony Cusano, Co-Founder and Portfolio Manager, said, "It is my firm belief that an investment culture based on the development of long-term relationships, the willingness to constantly re-evaluate one's view and, most importantly, the focus on identifying determinable value is the key to outperformance. We have built a strong team that is well-positioned to take advantage of the opportunities that arise from being a distressed and special situations specialist. We have already 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 an alternative investment specialist that identifies best-in-class private equity managers in niche markets. 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.
Media contact:
Anthony Cusano
Managing Partner
212.265.4240
SOURCE Banner Ridge Partners
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