Incline Equity Partners said July 11 that its Incline Elevate Fund LP closed on $314.5 million. The pool, its first fund extension vehicle, surpassed its $300 million hard cap after two months of marketing. Sixpoint Partners acted as placement agent.
Incline Equity Partners Closes on $314.5 Million for New Fund Platform,
Incline Elevate Fund, L.P.
Sixpoint Partners served as exclusive placement agent
New York, July 11, 2019 – Sixpoint Partners, a leading global investment bank serving the middle market, today announced the successful closing of Incline Elevate Fund, L.P. (the “Fund” or “Elevate”), with $314.5 million of total capital commitments. The Fund, which is the fifth investment vehicle and first fund extension vehicle for Incline Equity Partners (“Incline”), easily surpassed its initial hard cap of $300 million after only two months of marketing.
Elevate will leverage the firm’s established investment strategy, process and culture to source and execute investments exclusively in the lower middle market, where Incline has a strong track record of success but had outgrown in its flagship fund that seeks to make similar investments in larger companies.
“Renewing our focus in the lower middle market presents a compelling opportunity for the firm and our limited partners,” said Jack Glover, Managing Partner of Incline. We appreciate the continued support and confidence of our investors, and we are proud to expand our investment capabilities.”
Tom Ritchie and Evan Weinstein have joined as Partners of Elevate. Together, Tom and Evan have a successful 25+ year history of sourcing, closing and managing investments in companies across the value-added distribution, specialized light manufacturing and business services sectors. In addition to utilizing Incline’s existing finance and business development resources, Tom and Evan will lead a separate execution team based in New York.
“I couldn’t be happier to partner with Jack and the entire Incline team as well as with my long-time colleague Evan Weinstein to launch Elevate,” said Tom Ritchie, Partner. “We found a tremendous opportunity to blend our experience in the lower middle market with the firm’s long track record of success. Incline’s scale and reputation in the market allows us to quickly start making investments and creating value in companies.”
“Through Elevate, we believe Incline is poised to continue generating successful investments in the lower middle market. We look forward to continuing our partnership with the entire Incline team”, said Larry Smith, Partner at Sixpoint Partners.
Eric Zoller, Founder and Partner at Sixpoint Partners, added, “The fundraise was a testimony to the consistent strength of the Incline team and brand. Their long track record of success in the middle market speaks for itself.”
In May 2019, Elevate made its first investment in Wholesale Supplies Plus, a value-added distributor of raw materials, supplies and packaging used in the production of soap, lotion, cosmetics and candles as well as other personal care products by professional crafters.
About Incline Equity Partners
Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private equity firm investing in manufacturing, distribution and business services companies. Incline is generally seeking growing companies with enterprise values of $25 – $300 million. Incline’s typical investment types are ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.www.inclineequity.com
About Sixpoint Partners
Sixpoint Partners is a leading global investment bank focused on a diversified set of services and solutions for the middle-market private equity industry. The firm’s core areas of focus include (i) primary fund placement, (ii) secondaries advisory and (iii) co-investment placement across a wide range of industries, strategies and geographies. Sixpoint Partners has a reputation for its direct, results-driven style and for delivering innovative solutions to complex problems in order to create long-term value for clients. Sixpoint is headquartered in New York with offices in Chicago, San Francisco, Austin and Hong Kong. For more information, please visit http://www.sixpointpartners.com/.
Sixpoint Partners, LLC, is a registered broker/dealer, member FINRA (http://www.finra.org) and SIPC (http://www.sipc.org). Sixpoint Partners Asia Limited is licensed by the Securities and Futures Commission (http://www.sfc.hk).