The Wyoming State Loan and Investment Board (SLIB) has approved a $130m commitment to Banner Ridge Secondary Fund VI, further strengthening its relationship with the private equity secondaries manager, according to a report by BuyoutsInsider.
Banner Ridge Partners launched Fund VI in 2025 with a $3.2bn target, continuing its strategy of acquiring diversified secondary positions across North American private equity portfolios. Wyoming SLIB previously participated in Banner Ridge Secondaries Fund V, which closed in January 2024 at $2.29bn and has delivered a TVPI of 1.63x and an IRR of 122.99% on called capital.
Wyoming SLIB currently allocates 4.06% of its $32.3bn assets to private equity. The new commitment aligns with its strategy to maintain exposure to mature private equity secondaries, balancing growth potential with liquidity management.
