New Mountain Capital

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New Mountain Capital

Type| Private
Industry| Private Equity, Credit, Hedge Fund, Net Lease Real Estate
Founded| 1999; 27 years ago (1999)
Founder| Steven B. Klinsky
Headquarters| New York, NY
Products| Leveraged buyout BDC, Hedge Fund, Net Lease
Total assets| $28+ billion

Number of employees

| 150+
Website| www.newmountaincapital.com

New Mountain Capital (“New Mountain”) is an alternative investment manager with private equity, credit, public equity and net lease strategies. New Mountain’s aggregate assets under management total more than $28 billion across all investment strategies.[1] Since inception, New Mountain has raised over $17 billion of committed capital across five private equity funds and is currently raising its sixth fund. New Mountain was founded in 1999 by Steven B. Klinsky and today has over 150 employees, 100 of which are investment professionals.

New Mountain’s efforts emphasize intensive fundamental research and a focus on growth and investor “value added,” rather than reliance on excessive risk, as the best path to high and consistent long-term returns. New Mountain has proactively developed particular research and operational expertise in carefully selected “defensive growth” niches of healthcare, software, business services, information and data, logistics, specialty chemicals, federal services, financial services, and environmental services. New Mountain Capital works systematically to establish expertise in additional sectors over time.

## Contents

* 1 Strategies
* 2 Social Dashboard
* 3 History
* 4 References
* 5 External links

### Strategies

New Mountain’s private equity strategy seeks to acquire the highest quality leaders in carefully selected “defensive growth” industries, and then build those businesses. New Mountain can acquire majority control equity positions through its private equity flagship funds, or minority equity positions through its strategic equity strategy.

New Mountain manages credit investments through New Mountain Finance Corporation, a closed-end investment company that is listed on the New York Stock Exchange (Ticker: NMFC) and several private credit strategies. New Mountain Capital’s credit strategies seek to generate current income and capital appreciation through investments in debt securities at all levels of the capital structure.

New Mountain manages public equity portfolios through New Mountain Vantage Advisers (“Vantage”), which are designed to apply New Mountain's established strengths as an acquirer and builder of businesses toward non-control positions in the U.S. public equity markets generally.

New Mountain’s Net Lease strategy seeks to acquire operationally critical real estate assets from sponsor-backed companies in “defensive growth” industries.

### Social Dashboard

Each year New Mountain Capital releases its “Social Dashboard” Report.[2] In the latest release, New Mountain reported that it had added or created over 46,000 jobs at New Mountain private equity portfolio companies. Additionally, New Mountain portfolio companies spent approximately $5.3 billion in aggregate on research and development, software spending and capital expenditures. On average, New Mountain's portfolio companies pay above the median U.S. income. New Mountain Capital has never had a bankruptcy or debt payment default as it relates to private equity portfolio companies and has generated around $37 billion of total gains.[3]

### History

New Mountain Capital is based in New York City and was founded in 1999 by Steven B. Klinsky. Prior to founding New Mountain Capital, Klinsky was a general partner of private equity firm Forstmann Little and Co., which he joined in 1984.[4] Prior to that, Klinsky was a co-founder of the leveraged buyout group at Goldman Sachs (1981-1984), where he helped execute over $3 billion of transactions.

## References

1. ↑ As of July 8, 2020.
2. ↑ New Mountain Capital, 2019.
3. ↑ Realized and unrealized. Total gains is calculated based on change in enterprise value and is adjusted for acquisitions where additional fund equity was used and other transformative transactions; as of 12/31/2019.
4. ↑ Fifth Partner Is Added By Forstmann Little. New York Times, January 29, 1987.

Information provided on this website is intended to provide the investor with an introduction to New Mountain Capital and its investment strategies. Under no circumstances does the information contained herein constitute an offer to sell or a solicitation of an offer to buy any security or interest in an investment vehicle managed by New Mountain Capital. Any such offer or solicitation can only be made through a definitive private placement memorandum describing the terms and risks of an investment to sophisticated persons who meet certain qualifications under the federal securities laws and are capable of evaluating the merits and risks of the investment.

## External links

{{Navbox

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| image =
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| group1 = Basic investment types | list1 =

* Buyout
* Venture
* Mezzanine
* Growth
* Secondaries
* Equity co-investment

| group2 = History | list2 =

* History of private equity and venture capital
* Early history of private equity
* Private equity in the 1980s
* Private equity in the 1990s
* Private equity in the 2000s

| group3 = Terms and concepts

| list3 =

Buyout|

* Financial sponsor
* Management buyout
* Divisional buyout
* Buy–sell agreement
* Leveraged recapitalization
* Dividend recapitalization

|

Venture|

* Angel investor
* Business incubator
* Post-money valuation
* Pre-money valuation
* Seed money
* Startup company
* Venture capital financing
* Venture debt
* Venture round

Structure|

* Private equity firms and funds
* Limited partnership
* Limited liability company
* Carried interest
* Management fee
* Publicly traded private equity
* Business Development Company
* Venture capital trust
* Private investment in public equity (PIPE)
* Pledge fund

| group4 = Investors | list4 =

* Corporations
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* Pension funds
* Insurance companies
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* Endowments
* Foundations
* Investment banks
* Merchant banks
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* High-net-worth individuals
* Family offices
* Sovereign wealth funds
* Crowdfunding

| group5 = Related financial terms | list5 =

* AUM
* Cap table
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* Capital commitment
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* Distribution waterfall
* EBITDA
* Envy ratio
* High-yield debt
* IPO
* IRR
* Leverage
* Liquidation preference
* M&A
* PME
* Taxation of private equity and hedge funds
* Undercapitalization
* Vintage year

| below =

* Private equity and venture capital investors
* Private equity firms
* Venture capital firms
* Angel investors
* Portfolio companies

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