Banner Ridge Partners completed the fundraising of its latest special situations fund with a close at its hard cap with $639 million of total commitments.
Banner Ridge DSCO Fund II is a successor fund to the inaugural fund in the strategy that closed at a $300 million hard cap in 2021. The latest will invest in commitments to private equity funds, co-investments and early secondaries with strategies including distressed, special situations and credit.
The $3.8 billion New York firm focuses on investing in a subset of the market characterized by both complexity and limited access to information.
“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,” said Anthony Cusano, co-founder and portfolio manager at Banner Ridge. “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.”
