NEW YORK, NY October 9, 2014 – New Mountain Capital today announced the final closing of its fourth private equity fund, New Mountain Partners IV, L.P. (“Fund IV”), with $4.13 billion of equity capital commitments, including $4.0 billion of third party Limited Partner commitments and over $130 million from the General Partner and affiliated investors.
The fund, which had a target of $3.0 billion, was oversubscribed at its hard cap of $4.0 billion of Limited Partner commitments.
“We thank our Fund IV investors for their friendship and partnership,” said Steven B. Klinsky, founder and CEO of New Mountain. “We will do our best to reward their confidence with strong performance.”
New Mountain Capital’s mission is to be “best in class” among alternative asset managers as measured by returns, control of risk, service to its limited partners and the quality of the businesses it builds. New Mountain emphasizes acyclical growth and “value added” business building, rather than reliance on excessive risk, as the best path to high and consistent returns.
Since 2000, New Mountain has invested in 29 companies, including three for Fund IV thus far: ACA Compliance, Alexander Mann Solutions and Medical Specialties Distributors. New Mountain currently has approximately $15 billion of assets under management, including its private equity, public equity and debt investment efforts.
About New Mountain Capital
New Mountain Capital, LLC, together with its affiliates (“New Mountain”), manages private equity, public equity and credit capital with aggregate assets under management totaling approximately $15 billion1. The firm is currently investing private equity capital from New Mountain Partners IV, L.P. New Mountain manages public equity portfolios through New Mountain Vantage Advisers, L.L.C. (“Vantage”), a U.S. SEC-registered investment adviser that manages a privately offered, pooled investment vehicle available exclusively to accredited investors, and which is 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 also manages credit funds through New Mountain Finance Corporation, a closed-end investment company that is listed on the New York Stock Exchange (Ticker: NMFC). NMFC’s investment objective is to generate current income and capital appreciation through investments in debt securities at all levels of the capital structure.
1- Includes amounts committed, not all of which have been drawn down and invested to date; calculation as of September 30, 2014.
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.
Nothing presented herein is intended to constitute investment advice, and no investment decision should be made based on any information provided herein. It should not be assumed that an investment will be profitable or that the performance of any particular investment will equal its past performance. No guarantee of investment performance is being provided and no inference to the contrary should be made. There is a risk of loss from an investment in securities, including the potential loss of principal. Past performance is not indicative of future results.
Carina Davidson / Dana Gorman
The Abernathy MacGregor Group