Banner Ridge Partners – a $7.3 billion private markets investment specialist – announced that Investcorp’s Strategic Capital Group (ISCG) made a growth investment in the Firm. The financial terms of the transaction were not disclosed.
This partnership with ISCG provides Banner Ridge with primary growth capital and this deal follows the recent closing of Banner Ridge Secondary Fund V (“BRP V”) at its hard cap of $2.15 billion.
Under the terms of the deal, ISCG becomes a passive, non-voting partner in Banner Ridge. There will be no changes to the firm’s team, strategy, investment process, or day-to-day management and operations. And all the proceeds from the transaction will be invested in the business to support growth.
Launched in 2019, Investcorp’s Strategic Capital Group seeks to be a long-term strategic partner to mid-sized alternative asset managers, with a major focus on GPs it believes to be well-established, with successful track records, and that are poised for growth.
KEY QUOTES:
“This partnership with Investcorp comes at an exciting time for Banner Ridge as we seek to capitalize on the momentum of our recent fund close, and execute upon investment opportunities across distressed, special situations, and credit strategies in a market environment that our firm was built to thrive in. Investcorp’s Strategic Capital Group brings much more than capital. Their extensive network of investor relationships and complementary expertise will prove invaluable as we continue to grow our business over the coming years.”
– Anthony Cusano and C.J. Driessen, Co-founders of Banner Ridge
“Banner Ridge has established itself as a leader in identifying and partnering with top managers across distressed, special situations and credit. We’re excited to be a partner for growth as the team capitalizes on opportunities in these attractive and growing markets.”
– Anthony Maniscalco, Managing Partner and Head of ISCG
“Banner Ridge represents our 12th GP investment and is a highly complementary addition to our diverse family of GP partners. We look forward to supporting Anthony, C.J., and the entire Banner Ridge team as they embark on their next chapter.”
– Tim Osnabrug, Partner, ISCG
