Banner Ridge raises $2.15b for its secondaries fund; target was $1.4b

Banner Ridge Partners recently secured a substantial $2.15 billion for its secondary fund, surpassing its initial $1.4 billion target. Co-founder Anthony Cusano emphasized in an interview with Bloomberg that prevailing higher interest rates and a market characterized by limited liquidity are paving the way for lucrative investment prospects.

The firm's strategic focus involves acquiring stakes in pre-existing funds dedicated to distressed debt and special situations. This successful capital raise positions Banner Ridge Partners to capitalize on the evolving market conditions, showcasing its adept navigation of challenging financial landscapes.