Banner Ridge Partners – a $7.3 billion multi-strategy private equity investment firm – has completed fundraising for Banner Ridge Secondary Fund V (BRP V) at its hard cap with $2.15 billion of total commitments. BRP V is the latest fund to be raised as part of the firm’s flagship secondary program.
The Fund was oversubscribed and received capital commitments from various institutional investors, including pension funds and several prominent family offices. This is the fifth fundraiser since the firm became independent in June 2019.
Since the strategy’s inception in 2010 at the prior firm, the Partners at Banner Ridge have committed over $3 billion to over 150 discrete managers focused on distressed, special situations, and credit strategies globally. Through primary, secondary, and co-investments with specialist private equity sponsors in its target market, Banner Ridge will focus on investing in a subset of the market characterized by complexity and limited access to information.
KEY QUOTE:
“Higher interest rates and a lack of liquidity in the market paired with greater acceptance of secondaries as a portfolio management tool is driving exceptional opportunities for us. We have continuously 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, special situations, and credit specialist.”
- Anthony Cusano, Co-Founder and Portfolio Manager
“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.”
- J. Driessen, Co-Founder
