Banner Capital Successfully Launches Fund II After Recapitalization of Fund I

Banner Capital Management Announces Major Developments in Investment Funds

Banner Capital Management, LLC has made significant strides in the investment landscape with recent announcements regarding their funds. On June 5, 2025, the firm proudly revealed the successful recapitalization of Banner Capital Fund I and the launch of its successor, Fund II. This move is designed to bolster their investment portfolio and provide substantial capital for future projects.

Recapitalization of Fund I

The recapitalization of Fund I marks an important milestone for Banner Capital. With over $400 million in capital commitments, this multi-asset continuation fund aims to consolidate interests in eight of the firm’s pre-fund portfolio companies. Implicit in this structure is the participation of Hamilton Lane, a leader in private market investments, which has taken on a leading role as an investor in this fund.

Tanner Ainge, Founder and CEO of Banner, expressed enthusiasm about the new backing from Hamilton Lane and emphasized the importance of the existing partnerships. He stated, “We are excited to welcome Hamilton Lane as an investor in Fund I, alongside our long-time partners.” The primary goal of this transaction is to provide portfolio companies with additional time and resources while also allowing some pre-fund investors the opportunity for partial liquidity—a crucial aspect in private equity investing.

Ryan Smith from Hamilton Lane commented on the transaction, highlighting the firm’s commitment to fostering growth among Banner’s portfolio companies. “This transaction underscores Hamilton Lane's innovative approach, significant scale, and deep experience in delivering strategic solutions,” he noted, underscoring the collective aim of creating long-term value.

Introduction of Fund II

In conjunction with the successful recapitalization of Fund I, Banner Capital has also announced the initiation of Fund II, with a target of $200 million dedicated to lower middle market buyouts. This fund has been strategically devised to support companies within the sector, demonstrating Banner's commitment to the Intermountain West region and its dedication to founder- and family-owned enterprises.

Banner held a preliminary closing on Fund II to facilitate a recent acquisition—a transaction involving Western Pavement Services, an expanding player in the infrastructure sector, which reflects the firm's commitment to driving growth in critical industries. The Larry H. Gail Miller Family Foundation, alongside other legacy limited partners, participated in this initial closing, which signifies a robust local investment strategy.

Tyler Price, Managing Director at Banner Capital, reinforced the firm’s focus on helping lower middle market companies thrive. He emphasized that the target for Fund II illustrates Banner’s commitment beneath the surface of headline investments, stressing the importance of fostering family-owned businesses.

Advisory Support for the Transactions

Supporting these significant fund developments, Banner received financial advisory assistance from Harris Williams, while Kirkland Ellis LLP served as legal counsel. The guidance provided exuded confidence and security in navigating the complexities associated with private equity transactions. In turn, Hamilton Lane partnered with Debevoise Plimpton LLP for their advisory needs, promoting a collaborative and successful approach to investment.

About Banner Capital Management

Banner Capital Management specializes in private equity investments aimed at nurturing and financing family-owned and founder-led businesses primarily in the Western United States. They focus on various sectors including industrial, consumer, healthcare, and services. Their strategic investment plans and active involvement in the growth of their portfolio companies underscore their dedication to fostering sustainable business practices while generating substantial value for investors.

As of the latest updates following the Fund I transaction closure, Banner Capital has approximately $653 million in assets under management, representing a significant commitment to impactful investments that resonate well within their market niche.

For more information on their operations and investment strategies, visit Banner Capital.

Disclaimer

This press release serves as an announcement and does not represent an offer to sell or solicit investments. Potential investors should be aware of the inherent risks associated with private equity investing which may result in a complete loss of capital. Hence, thorough research and consideration of risks are advised before engaging with investment opportunities.