Banner Ridge Partners
Private equityNew York
Investment thesis
Banner Ridge Partners specializes in private equity secondaries, targeting deep-value opportunities in fragmented and niche markets, particularly distressed, special situations and credit. The firm sources investments through relationships with limited partners, fund managers and intermediaries, seeking situations where it holds an information advantage and can exploit market inefficiency. Its sub-strategies span distressed trading, distressed-for-control, turnaround private equity and structured credit, alongside a primary investment program and co-investments made alongside partner managers. Banner Ridge aims to build high-conviction, diversified portfolios that balance risk mitigation with enough concentration to generate outsized returns, emphasizing price discipline over investment volume and leveraging expertise in complex transaction structures.
Source: firm website, verified Aug 18, 2026.
Fund performance · per public LP disclosures · 7
as of Jun 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Banner Ridge Secondary Fund VLPs: South Carolina Retirement System Investment Commission | 2023 | — | 74.4% | — | — |
| Banner Ridge Secondary Fund V (TE), L.P.LPs: New Mexico Educational Retirement Board | 2023 | — | 84.4% | 1.75x | 0.02x |
| Banner Ridge Secondary Fund V CoLPs: South Carolina Retirement System Investment Commission | 2023 | — | 22.9% | — | — |
| Banner Ridge DSCO Fund II, L.P.LPs: New Mexico Educational Retirement Board | 2022 | — | 67.4% | 1.81x | 0.00x |
| Banner Ridge Secondary Fund IV (T), L.P.LPs: New Mexico Educational Retirement Board | 2021 | — | 27.7% | 1.74x | 0.75x |
| Banner Ridge DSCO Fund I, L.P.LPs: New Mexico Educational Retirement Board | 2020 | — | 27.2% | 1.61x | 0.48x |
| Banner Ridge Secondary Fund III (TE), L.P.LPs: New Mexico Educational Retirement Board | 2019 | — | 27.0% | 1.73x | 1.17x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What sectors does Banner Ridge Partners focus on?
- Banner Ridge Partners focuses on Sector Agnostic.
- Where is Banner Ridge Partners located?
- Banner Ridge Partners is headquartered in New York, US.
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