Incline Equity Partners (“Incline”), a Pittsburgh-based private equity firm, is pleased to announce that Goldman Sachs Asset Management’s Petershill program has made a strategic investment in the firm. Terms of the transaction were not disclosed.
Incline will leverage this passive, minority investment to accelerate the evolution of its platform to extend its strong track record of success across the middle market. Through a focus on value-added distribution, business services and specialized light manufacturing, Incline has leveraged its investing strategy, process and culture to help build resilient companies and deliver attractive returns to its investors.
Jack Glover, Managing Partner of Incline, said, “This transaction marks the next phase in Incline’s growth. With additional capital and a world-class partner, we look forward to accelerating the execution of our strategy, while continuing to develop the culture and team that have contributed to our success.”
Ali Raissi, co-head of Goldman Sachs Asset Management’s Petershill program, said, “Our aim is to partner with best-in-class firms and Incline has developed the investment and organizational capability to be properly recognized as such. We’re looking forward to this partnership and helping Incline realize continued success.”
Berkshire Global Advisors served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Incline. Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel to Petershill.
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 – $450 million. Incline’s typical investment types are ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.
About Goldman Sachs Asset Management’s (GSAM) Petershill Program:
The Petershill program is managed by GSAM’s Alternative Investments & Manager Selection (AIMS) Group, which provides investors with investment and advisory solutions across leading private equity funds, hedge fund managers, real estate managers, public equity strategies and fixed income strategies. With investments in over 20 asset management firms, the Petershill program provides strategic capital to asset management firms and has raised over $5 billion of commitments since inception. GSAM is one of the world’s leading investment managers with more than $1 trillion in assets under supervision globally as of December 31, 2020.
Incline Management, L.P. (“IMLP”) is registered with the U.S. Securities and Exchange Commission as an investment adviser under the U.S. Investment Advisers Act of 1940, as amended. Registration as an investment adviser does not imply a certain level of skill or training. IMLP provides investment advisory services only to privately offered funds. IMLP does not solicit or make its services available to the public or other advisory clients. This press release is intended solely to provide information regarding Incline’s potential capabilities for prospective portfolio companies, and is not an offer to sell to any person, or a solicitation from any person of an offer to buy, any securities. The statements contained herein are not statements of any IMLP client fund or investor and do not describe any experience with or endorsement of IMLP as an investment adviser by any such client or investor.