Banner Capital Announces Fund I Recapitalization and Launch of Fund II
Banner Capital Management has announced two significant developments: the closing of Fund I, a $400 million multi-asset continuation fund, and the launch of Fund II, targeting $200 million for lower middle market buyouts.
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Rhea-AI Summary
Positive
- Hamilton Lane's (HLNE) strategic investment demonstrates confidence in Banner's portfolio companies
- Fund I secures $400 million in capital commitments for portfolio development
- Fund II launch with $200M target shows expansion into lower middle market
- Successful preliminary closing of Fund II with backing from established investors
Negative
- None.
Details
News Market Reaction – HLNE
The recorded move for HLNE in the trading session of this news was +1.04%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Fund I
Fund I is a multi-asset continuation fund with over
Tanner Ainge, Founder & CEO of Banner, said, "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, added, "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."
Fund II
Following the close of Fund I, which has unfunded capital reserved solely for follow-on investments, Banner is also pleased to announce the launch of Fund II, a lower middle market buyout fund with a
Tyler Price, Managing Director of Banner, stated "The target size for Fund II, along with our initial investment in Western Pavement Services, underscores Banner's deep commitment to the lower middle market, the Intermountain West, and to supporting founder- and family-owned businesses."
Advisors
Banner was advised by Harris Williams as financial advisor and Kirkland & Ellis LLP as legal counsel on the transaction. Hamilton Lane was advised by Debevoise & Plimpton LLP.
About Banner Capital
Banner Capital Management, LLC is a private equity firm focused on providing partnership capital to family-owned and founder-led businesses across the
As of the closing of the Fund I transaction, Banner has
For more information, visit www.bannercap.com.
* The reported AUM figure includes (i) the 12/31/2024 valuations for the portfolio company securities managed by Banner at that time, plus (ii) the cost basis of the Western Pavement Services transaction which closed on 4/30/2025, plus (iii) the cost basis of an acquisition by Averra Holdings in connection with the Fund I closing, plus (iv) the value of the securities of certain rollover holders or co-investors which were contributed into Fund I, plus (v) the unfunded commitments which were received in connection with the Fund I transaction.
This press release does not constitute an offer to sell, or the solicitation of an offer to purchase any security. Any investment involves substantial risks, including complete loss of capital. There can be no assurance that Banner will be able to implement the strategy described herein or, if implemented, it will lead to investor returns. Similarly, there can be no assurance Banner will be able to maintain the advantages discussed herein over time or outperform third parties or the financial markets generally. There can be no assurance that historical trends will continue. Certain information contained herein constitutes "forward-looking statements." Forward looking statements are subject to a number of known and unknown risks and uncertainties, including without limitation changes in economic conditions, political changes, international conflicts, legal and regulatory requirements, interest rate fluctuations, as well as changes in the markets, prospects and competition. Fund II only will be offered to qualified investors through its private placement memorandum and agreement of limited partnership, which contain a discussion of important risks and potential conflicts of interest, and this press release is qualified in its entirety by reference to such documents.
About Hamilton Lane
Hamilton Lane (Nasdaq: HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs approximately 760 professionals operating in offices throughout
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SOURCE Banner Capital Management
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