Thu, 11/07/2019 - 15:08
Sixpoint Partners has announced the successful closing of Incline Elevate Fund with USD314.5 million of total capital commitments. The Fund, which is the fifth investment vehicle and first fund extension vehicle for Incline Equity Partners (Incline), easily surpassed its initial hard cap of USD300 million after only two months of marketing.
Elevate will leverage the firm’s established investment strategy, process and culture to source and execute investments exclusively in the lower middle market, where Incline has a strong track record of success but had outgrown in its flagship fund that seeks to make similar investments in larger companies.
“Renewing our focus in the lower middle market presents a compelling opportunity for the firm and our limited partners,” says Jack Glover, Managing Partner of Incline. We appreciate the continued support and confidence of our investors, and we are proud to expand our investment capabilities.”
Tom Ritchie and Evan Weinstein have joined as Partners of Elevate. Together, Ritchie and Weinstein have a successful 25-plus year history of sourcing, closing and managing investments in companies across the value-added distribution, specialised light manufacturing and business services sectors. In addition to utilising Incline’s existing finance and business development resources, Tom and Evan will lead a separate execution team based in New York.
“I couldn’t be happier to partner with Jack and the entire Incline team as well as with my long-time colleague Evan Weinstein to launch Elevate,” says Ritchie, “We found a tremendous opportunity to blend our experience in the lower middle market with the firm’s long track record of success. Incline’s scale and reputation in the market allows us to quickly start making investments and creating value in companies.”
“Through Elevate, we believe Incline is poised to continue generating successful investments in the lower middle market. We look forward to continuing our partnership with the entire Incline team,” says Larry Smith, Partner at Sixpoint Partners.
Eric Zoller, Founder and Partner at Sixpoint Partners, adds: “The fundraise was a testimony to the consistent strength of the Incline team and brand. Their long track record of success in the middle market speaks for itself.”
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