New Mountain Capital
| Company type | Private |
|---|---|
| Industry | Private equity, Investment management |
| Founded | 1 January 1999 in New York City, United States |
| Founder | Steven Klinsky |
| Headquarters | New York City , United States |
Area served | Global (United States, Europe, Asia) |
Key people | Steven Klinsky (Founder) |
| Products | Private equity funds, Growth investing |
Number of employees | 160+ |
| Website | www |
New Mountain Capital (commonly known as New Mountain) is a U.S.-based alternative investment firm headquartered in New York City, concentrating on growth investing within mid-market companies operating in economically resilient sectors.
The company maintains additional offices across Europe and Asia.
As of June 2024, New Mountain Capital was positioned 37th on the Private Equity International PEI 300 list, ranking among the largest private equity firms globally.
Background
Established in 1999 by Steven Klinsky—formerly a partner at Forstmann Little & Company and a co-founder of Goldman Sachs's leveraged buyout division—New Mountain was founded with an emphasis on a more measured investment approach compared to traditional highly leveraged buyouts.
In September 2018, Blackstone Inc. acquired a minority stake of 9% in New Mountain.
By January 2021, the firm had successfully raised upwards of $10 billion through two main funds: a flagship private equity fund totaling $9.6 billion and an additional $640 million fund targeting minority investments.
As of 2024, New Mountain Capital has returned more capital to investors than the amount deployed.
Corporate affairs
New Mountain Capital specializes in developing mid-sized enterprises within stable industries, utilizing conservative leverage levels. Its primary focus is on family-owned businesses that have yet to expand or acquire assets beyond U.S. borders. The firm frequently applies innovative corporate strategies that enable it to realize substantial windfall gains, even as many competitors face challenges. Klinsky prefers mid-market companies due to their enhanced capacity for growth.
Annually, New Mountain’s investment team rigorously evaluates which sectors present the most promising long-term prospects and how these industries might transform over time. This forward-looking process allows the firm to remain agile amid sectoral changes and steer clear of less favorable markets.
In January 2025, New Mountain Capital unveiled New Mountain Wells Solutions, a specialized platform designed to support RIAs and their clientele. This initiative is led by industry expert Raleigh Peters and comprises an eight-member advisory team alongside 160 investment professionals from across New Mountain’s organization.
Notable deals
- In March 2010, New Mountain acquired RedPrairie for $550 million. After restructuring efforts, the company emerged as a leader in identifying supply chain bottlenecks. In 2021, the rebranded entity Blue Yonder was sold to Panasonic for $8 billion, generating gains exceeding $5 billion.
- In August 2010, New Mountain purchased Avantor for less than $300 million and redirected its focus toward higher-margin specialty chemicals. Avantor’s public offering in 2019 yielded gains surpassing $3 billion.
- In 2017, New Mountain combined two smaller home healthcare providers for under $500 million to create Signify Health, which was subsequently sold to CVS Health in September 2022 for $8 billion.
- In May 2024, New Mountain led a consortium acquiring a controlling 60% interest in the U.S. division of Grant Thornton, concentrating on its non-audit operations.