Banner is led by Tanner Ainge and Tyler Price, who have worked together since 2021 to build the Firm and assemble a robust portfolio of Intermountain West operating companies. With offices in Utah and Arizona, Banner has developed a strong regional footprint and proprietary sourcing network across the Intermountain West, investing in founder-owned businesses generating $4 million to $15 million in EBITDA. The Firm currently manages approximately $630 million in assets for a diversified cohort of institutional investors.

GCM Grosvenor is backing Banner through its Sponsor Solutions platform, marking its Elevate strategy’s fifth partnership. GCM Grosvenor’s Elevate strategy has provided Banner with catalytic anchor capital for Banner Capital Fund II. Elevate will also provide ongoing strategic support as Banner scales its business.

Banner’s investment strategy is concentrated in companies that service the fundamental needs of American businesses and households, coupled with a regional focus in the Intermountain West. This approach is demonstrated by Fund II’s first investment, Western Pavement Services, Inc., an asphalt maintenance platform which has quickly scaled by acquiring operations throughout Arizona, Utah, and Nevada.

The Firm’s longstanding presence in the region combines deep local relationships, a proprietary network of operational executives and industry specialists, and a distinct sourcing advantage. Banner’s commitment to a partnership approach has attracted founder-owned businesses at pivotal transition points.

Banner’s emergence as a blue-chip emerging manager comes amidst a dramatic expansion of the independent sponsor market, which now encompasses more than 1,500 firms in the United States (Source: McGuireWoods LLP). Despite significant LP interest in the segment, few independent sponsors have successfully made the transition to institutional-grade fund managers. Banner’s track record, established asset base, and differentiated regional focus position it as one of a select group capable of making that leap.