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Incline Equity Partners closes USD601m private equity fund

Sixpoint Partners has held the closing of Incline Equity Partners IV with over USD601 million of total capital commitments.

The fund closed at its hard cap and well in excess of its USD450 million target after only three months of marketing.
 
The fund, which is the fourth investment vehicle for the founding principals of Incline Equity Partners, 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, which closed above its target at USD301 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, specialised light manufacturing and business services sectors. The fund will seek to make control-oriented equity investments in companies with enterprise values generally between USD50 million and USD200 million with a focus on buyouts, corporate divestitures and minority recapitalisations 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," says Glover.
 
Bacdayan adds: "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," says 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 provided legal counsel in connection with Fund IV.

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