People

Banner Ridge snaps up talent from Blackstone, Siguler Guff

The firm took up a managing director from its founder's old employer, while tapping three other firms to expand its platform.

-

Banner Ridge Partners has tapped the likes of Siguler Guff and Blackstone‘s Alternative Asset Management, bringing on four new hires.

Matthew Brewer joined the private equity and secondaries investor this month as managing director and head of capital formation. He is responsible for leading the capital formation processes and managing relationships with existing and prospective LPs, according to Banner Ridge’s website. Brewer was previously head of global distribution at Siguler Guff, where he spent just over a decade, according to his LinkedIn.

Banner Ridge has also hired Prashant Sundar as principal from Blackstone Alternative Asset Management, where he spent more than seven years, according to his LinkedIn. Sundar is responsible for making primary commitments and co-investments at Banner Ridge and previously focused on manager evaluation, underwriting direct investment opportunities, data analytics and portfolio construction at BAAM, according to Banner Ridge’s website.

The firm has also hired Jacob Weiker as an investment associate from hedge fund DC Investments Management, where he was an investment analyst. Kareem Kubeisy has joined Banner Ridge as an investment analyst from investment firm Steward Asset Management, where he was a research analyst on the fund investment team.

Banner Ridge declined to comment on the appointments.

Banner Ridge was founded in 2019 by Siguler Guff’s former secondaries head Anthony Cusano, who ranked fourth in the 2017 Young Guns of Secondaries list of the most impressive industry professionals under 36.

The firm closed on its $1 billion hard-cap for its latest flagship secondaries fund Banner Ridge Secondary Fund IV in 2021, surpassing its $600 million target. Banner Ridge Secondary Fund III closed on $550 million in 2020. The firm is out raising its latest flagship, Banner Ridge Secondary Fund V, which launched in November, according to Secondaries Investor data.

Last year, the firm closed on its second fund targeting distressed, special situations and credit opportunities on a primary basis. Banner Ridge DSCO Fund II reached its hard-cap, raising $639 million of total commitments, according to a statement at the time. The fund will make primary fund commitments, co-investments and early secondaries investments.