Banner Ridge Raises $639m in Oversubscribed Special Situations Primary Fund

Aug 1, 2022 | News

Banner Ridge Partners, a multi-strategy private equity investment firm with over $3.8bn in assets under management, has completed fundraising for Banner Ridge DSCO Fund II at its hard cap with $639m of total commitments.

DSCO II is the successor fund to Banner Ridge DSCO Fund I, the strategies inaugural fund, which closed at its $300 million hard cap in 2021. DSCO II, will target commitments to private equity funds, co-investments and early secondaries with strategies characterized by distressed, special situations and credit.

DSCO II received capital commitments from a wide range of institutional investors, including public and private pension funds, RIAs, and several prominent family offices. This is the fourth fundraise since the firm became an independent business in June 2019.

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The partners of Banner Ridge have been focused on the Fund’s target market since 2007. The investment team at Banner Ridge has committed over $2.0 billion to approximately 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 focuses 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 DSCO platform at Banner Ridge is instrumental to our strategy of developing long-term relationships with best-in-class private equity managers. We believe DSCO II is well-positioned to take advantage of the current market environment characterized by rising interest rates, inflation, and increased volatility.

We have already made several investments in the fund and continue to progress on a robust pipeline of opportunities that align squarely with our proven investment strategy. We are grateful to have been entrusted by an exceptional group of investors and look forward to continuing our long-term track record of outperformance on their behalf.”

Source: PR Newswire

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