PHOENIX, Aug. 12, 2025 /PRNewswire/ — Banner Capital Management, LLC (“Banner”), a private equity firm focused on investing in founder-led and family-owned businesses in the Western United States, today announced the establishment of its Phoenix office and the appointment of Michael Muscheid as Principal to spearhead the firm’s Arizona market expansion.
Banner AZ
Mr. Muscheid brings more than eight years of experience in private equity and institutional asset management, having held roles at leading firms including Jefferies, Marlin Equity Partners, and Citadel. A Scottsdale native and honors graduate of Arizona State University with dual degrees in Finance and Economics, Mr. Muscheid combines deep local market knowledge with expertise gained from his time in major financial centers.
“Returning to Arizona represents both a personal homecoming and a strategic opportunity to address a significant market gap,” said Muscheid. “Arizona has emerged as one of the nation’s premier business destinations, attracting entrepreneurs who have contributed to the state’s impressive economic growth and continued diversification across sectors. Despite this dynamic landscape, Arizona remains underserved by dedicated private equity capital – a void we’re uniquely positioned to fill. Our commitment extends beyond capital deployment; we’re establishing permanent roots to build lasting partnerships.”
The Phoenix office represents Banner’s continued geographic expansion strategy, targeting high-caliber markets with strong founder-led and family-owned ecosystems with limited institutional capital presence.
“The focus on Arizona is not new for us,” said Tanner Ainge, Founder & CEO of Banner. “My wife and I both grew up in the Phoenix area and maintain deep roots in the community. Banner also already has a strong portfolio company presence here, but we are thrilled to add someone of Michael’s caliber to our team and to have him on the ground in this office where we see enormous opportunity for years to come.”
About Banner
Banner Capital is a private equity firm focused on investing in family-owned and founder-led businesses in the lower middle market. The firm targets the services, consumer, industrial and healthcare sectors. As of the closing of the Fund I transaction on June 5, 2025, the firm has $653 million in assets under management (AUM)*.
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.
SOURCE Banner Capital Management
