– Banner Capital Management, LLC (“Banner”) has closed a portfolio recapitalization into Banner Capital Fund I (“Fund I”)
– A multi-asset continuation fund with over $400 million in capital commitments
Formed to acquire interests in eight of Banner’s pre-fund portfolio companies
– Hamilton Lane acted as the lead investor
– Many of Banner’s pre-fund investors retained a meaningful interest via the new vehicle
– Designed to: Provide additional time and capital to portfolio companies, Offer partial liquidity to pre-fund investors, Crystalize performance
– Tanner Ainge, Founder & CEO of Banner: “We are excited to welcome Hamilton Lane as an investor in Fund I, alongside our long-time partners. We remain strong believers in the companies and leadership teams that are part of Fund I and are grateful to have more time to fully realize the value created—while also providing early investors with interim liquidity.”
– Ryan Smith, Managing Director on the Secondary Investment Team at Hamilton Lane: ”We are proud to support these Banner portfolio companies through this next phase of growth. This transaction underscores Hamilton Lane’s innovative approach, significant scale and deep experience in delivering strategic solutions for both GPs and LPs while facilitating long-term value creation.”
