Incline Equity Partners closed its latest private equity fund, Incline Equity Partners Fund V, with $1.2 billion of capital commitments, a news release from its placement agent, Sixpoint Partners, said.
The fund was oversubscribed above its initial target of $850 million.
Fund V targets middle-market companies with multiple opportunities for growth in the value-added distribution, specialized light manufacturing and business services sectors. The fund will make control-oriented equity investments in companies with enterprise values in the $100 million to $450 million range.
Investors in the fund include the $59.1 billion Pennsylvania Public School Employees' Retirement System, Harrisburg.
Predecessor fund Incline Equity Partners IV closed in 2017 at its hard cap of $601 million in capital commitments.