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Laxman Pai, Opalesque Asia: Multi-strategy alternative investment specialist Banner Ridge Partners has closed its fifth secondary fund at a hard cap of $2.15 billion.
The $7.3bn private equity investment firm said in a media release that Banner Ridge Secondary Fund V (BRP V) 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 fifth fundraise since the firm became an independent business in June 2019," said the release.
According to the company, since the strategy's inception in 2010 at its prior firm, the Partners at Banner Ridge have committed over $3.0 billion to over 150 discrete managers focused on distressed, special situations, and credit strategies globally.
Anthony Cusano, Co-Founder and Portfolio Manager, said: "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 spec...................... To view our full article Click here
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