Incline Equity Partners (“Incline”), a Pittsburgh-based private equity firm, announces the closing of nearly $1 billion in capital commitments between two fund platforms – Incline Elevate Fund II, L.P. (“Elevate II”) and its second fund extension, Incline Ascent Fund, L.P. (“Ascent”). The total capital raised includes $630 million to Elevate II and $310 million to Ascent. Both funds were oversubscribed and substantially exceeded their initial targets.
Elevate II and Ascent complement Incline’s flagship fund, bolstering the firm’s strategy to partner with growing companies in the middle market across value-added distribution, business services and specialized light manufacturing. Each fund leverages Incline’s dedicated investment teams and extensive suite of shared resources, allowing for a broad size range of investments from $25 million to $750 million in enterprise values.
“Elevate II and Ascent closed in just under four months of marketing with significant excess demand driven by strong interest from existing and new investors,” said Jack Glover, Managing Partner of Incline. “The successful fundraises demonstrate the growth of our firm and our active role as a respected manager in the market. I am incredibly proud of our track record. We thank our limited partners for their support, and we remain committed to working hard to create value for them.”
Elevate II will continue to be led by Tom Ritchie, Evan Weinstein and Victor Martinelli. Bob Erwin joins the Incline team and will lead Ascent along with Brad Phillips.
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 – $750 million. Incline’s typical investment types are ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.
Disclaimer:
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.