Incline
Private equityPittsburgh · Growth
Investment thesis
Incline Equity focuses on durable businesses with multiple ways to win, investing in services, value-added distribution, software and technology, and specialized light manufacturing. It pursues buyouts, corporate divestitures, and minority recapitalizations of companies in the USA or Canada with enterprise values between $25MM and $750MM (no minimum for add-ons). The firm emphasizes a hands-on, collaborative model, providing dedicated teams and resources such as its Catalyst Group and Incline Intelligence to help execute tailored value creation plans covering operations, add-on acquisitions, talent development, and core functions like sales, technology, and finance.
Source: firm website, verified Aug 6, 2026.
Investments · 13 tracked
founders shown can be your intro pathA subscription-based membership network for independent collision repair shops.
Fund performance · per public LP disclosures · 6
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| INCLINE ELEVATE FUND II LPLPs: Pennsylvania Public School Employees' Retirement System, University of Texas Investment Management Company | 2022 | — | -1.1% | 0.98x | — |
| Incline Equity Partners V, L.P.LPs: Pennsylvania Public School Employees' Retirement System | 2020 | — | -0.9% | 0.98x | 0.01x |
| Incline Elevate Fund, L.P.LPs: Pennsylvania Public School Employees' Retirement System | 2019 | — | 93.6% | 2.45x | 1.43x |
| Incline Equity Partners IVLPs: Pennsylvania Public School Employees' Retirement System, Texas Municipal Retirement System, Los Angeles City Employees' Retirement System | 2017 | — | 22.1% | 1.95x | 1.49x |
| Incline Equity Partners IIILPs: Pennsylvania Public School Employees' Retirement System, New York City Police Pension Fund | 2012 | — | 37.3% | 2.60x | 2.60x |
| Incline Equity Partners III (PSERS), L.P.LPs: Pennsylvania Public School Employees' Retirement System | 2011 | — | 34.9% | 2.71x | 2.70x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What stage does Incline invest at?
- Incline invests at the Growth stage.
- What is Incline's typical check size?
- Incline typically writes checks of $25M – $750M.
- What sectors does Incline focus on?
- Incline focuses on SaaS, Sector Agnostic.
- Where is Incline located?
- Incline is headquartered in Pittsburgh, US.
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