
Investcorp Invests in Secondary-Focused Banner Ridge Partners
Investcorp‘s strategic capital group (ISCG) made an investment in Banner Ridge Partners, giving the $7.3 billion NY-based alternative assets manager its second cash injection this year following the recent close of Banner Ridge Secondary Fund V at its hard cap of $2.15 billion.
Financial terms of the investment were not disclosed.
The deal makes ISCG a passive, non-voting partner in Banner Ridge, which invests in distressed, special situations, and credit strategies. Banner Ridge plans to invest all proceeds from the transaction to support growth, with no changes to its team or investment processes.
“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,” said Anthony Cusano and C.J. Driessen, Banner Ridge co-founders.
Bahrain-based Investcorp, which has been operating as an investment manager since 1982, operates across 14 global offices and has $50 billion in assets, including those managed by third party managers.
