6 Feb 2024
Banner Ridge Partners (“Banner Ridge” or the “Firm”), a $7.3 billion private markets investment specialist, today announced that Investcorp’s Strategic Capital Group (“ISCG”) has made a growth investment in the Firm. Financial terms of the transaction were not disclosed.
The partnership with ISCG provides Banner Ridge with primary growth capital and follows the recent closing of Banner Ridge Secondary Fund V (“BRP V”) at its hard cap of $2.15 billion.
“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,” said Anthony Cusano and C.J. Driessen, Co-founders of Banner Ridge. “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.”
Under the terms of the agreement, 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. All proceeds from the transaction will be invested in the business to support growth.
“Banner Ridge has established itself as a leader in identifying and partnering with top managers across distressed, special situations and credit,” said Anthony Maniscalco, Managing Partner and Head of ISCG. “We’re excited to be a partner for growth as the team capitalizes on opportunities in these attractive and growing markets.”
Launched in 2019, Investcorp’s Strategic Capital Group seeks to be a long-term strategic partner to mid-sized alternative asset managers, with a primary focus on GPs it believes to be well-established, with successful track records, and that are poised for growth.
“Banner Ridge represents our 12th GP investment and is a highly complementary addition to our diverse family of GP partners,” said Tim Osnabrug, Partner, ISCG. “We look forward to supporting Anthony, C.J., and the entire Banner Ridge team as they embark on their next chapter.”