New Mountain Capital has closed its fourth private equity fund, New Mountain Partners IV, with USD4.13 billion of equity capital commitments.
This includes USD4.0 billion of third party limited partner commitments and over USD130 million from the general partner and affiliated investors.
The fund, which had a target of USD3.0 billion, was oversubscribed at its hard cap of USD4.0 billion of limited partner commitments.
“We thank our Fund IV investors for their friendship and partnership,” says 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 emphasises a cyclical growth and “value added” business building, rather than reliance on excessive risk, as the best path to high and consistent returns.
