Incline Equity Partners III Closes Above Target
INCLINE EQUITY PARTNERS III CLOSES ABOVE TARGET
We are pleased to announce the final closing of Incline Equity Partners III, L.P. (IEP III), the first independent fund raised by Incline Equity Partners (“Incline”) after spinning out of PNC Bank. The final close surpassed Incline’s target and hard cap. This achievement reflects the recognition of Incline’s focused investment strategy, strong demand from new and existing investors as well as the strong marketing partnership between Incline and Sixpoint Partners.
Transaction Overview
- Headquartered in Pittsburgh, PA, Incline provides control-oriented private equity capital to lower middle-market companies whose owners and/or management teams are in need of a strategic financial partner
- Incline focuses on companies with specific business models operating within the specialized light manufacturing, business and industrial services and value-added distribution industry sectors
- Incline was founded in 2011 by three managing principals of PNC Equity Partners (Jack Glover, Wali Bacdayan, and Justin Bertram) and manages over $770 million in committed capital across three institutional funds
- The Incline team has worked together for 14 years and will continue to manage PNC Equity Partners I, LP and PNC Equity Partners II, LP together with IEP III
Fundraising Highlights
- In a difficult fundraising environment, Incline raised an oversubscribed fund with strong demand from existing and new investors
- Fund III includes 16 new institutional relationships, including 11 institutional investors and five private equity consultants
- Fund III received strong support, particularly from public pensions, foundations, consultants, insurance companies and funds of funds
About Incline
Headquartered in Pittsburgh, PA, Incline Equity Partners is a lower middle-market private equity firm that focuses on making investments of $10 million to $25 million in support of leveraged buyouts, recapitalizations, and large minority financings of privately-held companies with enterprise values between $25 million and $100 million across a variety of industry sectors including specialized light manufacturing, value-added distribution, and business and industrial 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. Our core areas of focus include (i) primary fund placement, (ii) secondaries advisory and (iii) co-investments across a wide range of industries, strategies and geographies.
