Incline Equity Partners, a Pittsburgh, Pennsylvania-based private equity firm, closed its fourth fund, at $601.1m.
Incline Equity Partners IV, LP, which exceeded its $450m target, received commitments from a number of top-tier investors, including endowments, foundations, multi-manager funds, consultants, public pensions, corporate pensions and family offices.
Following the strategy of its predecessor, Fund IV invests in lower middle-market companies in the value-added distribution, specialized light manufacturing and business services sectors.
The fund will seek to make control-oriented equity investments in companies with enterprise values generally between $50 million and $200 million with a focus on buyouts, corporate divestitures and minority recapitalizations 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.