Incline Equity Partners has closed its fourth fund with $601.1 million in capital commitments. Incline Equity Partners IV LP closed at its hard cap and exceeded its $450 million target. Incline Equity’s third fund collected $301 million in 2013. Sixpoint Partners was the placement agent. Kirkland & Ellis LLP provided legal counsel. Incline Equity, of Pittsburgh, invests in lower middle-market growth companies in a variety of industry sectors such as value-added distribution, specialized light manufacturing and business services.
NEW YORK, Jan. 24, 2017 /PRNewswire/ — Sixpoint Partners, a leading global investment bank serving the middle market, today announced the successful closing of Incline Equity Partners IV, L.P. (“Fund” or “Fund IV”), with $601,125,000 of total capital commitments. The Fund closed at its hard cap and well in excess of its $450 million target after only three months of marketing. The Fund, which is the fourth investment vehicle for the founding principals of Incline Equity Partners (“Incline”), received commitments from a number of top-tier investors, including endowments, foundations, multi-manager funds, consultants, public pensions, corporate pensions and family offices.
Fund IV follows the strategy of its predecessor, Incline Equity Partners III, L.P., which closed above its target at $301 million of capital commitments in 2013. The Fund’s strategy involves investing in lower middle-market companies that possess multiple avenues for growth in the value-added distribution, specialized light manufacturing and business services sectors. The Fund will seek to make control-oriented equity investments in companies with enterprise values generally between $50 million and $200 million with a focus on buyouts, corporate divestitures and minority recapitalizations in the lower end of the North American middle market. The firm is led by its senior partners, Jack Glover, Wali Bacdayan, Justin Bertram and Leon Rubinov.
“We are grateful for the support and confidence of our investors and look forward to continuing and deepening the successful, long-term partnership we have with them. Our LP base includes a prominent and diversified group of investors who are fully aligned with our vision for the firm going forward,” said Jack Glover, Partner at Incline.
Wali Bacdayan, Partner at Incline, added “We are gratified by the re-up support into Fund IV and are proud of the continued investments we have made in the platform, deepening the team and our investment capabilities. We remain focused on delivering strong returns.”
“The combination of Incline’s time spent with existing and potential LPs between fundraises, together with their remarkable track record, has been critical in driving demand from investors interested in the lower middle market,” said Larry Smith, Partner at Sixpoint Partners. “Incline’s experienced team is well-positioned to continue its legacy of investing in growing companies.”
“Incline serves as an excellent example of how top quality funds can enhance their fundraising process by cultivating it before, during and after the actual raise,” added Eric Zoller, Partner at Sixpoint Partners.
Kirkland & Ellis LLP provided legal counsel in connection with Fund IV.
About Incline Equity Partners
Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private equity firm that makes investments in lower middle-market growth companies, focusing on companies with enterprise values of $50 million to $200 million across a variety of industry sectors including value-added distribution, specialized light manufacturing and business services.
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 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).
About Kirkland & Ellis
Kirkland & Ellis is a global leader in providing sophisticated advice to private investment fund sponsors and select institutional investors with respect to all major alternative investment strategies. In the past three years alone, Kirkland has advised 280 private investment fund sponsors, raising more than 380 funds and representing more than $305 billion of capital commitments.