 | |
| Company type | Private |
|---|---|
| Industry | Alternative investments |
| Founded | 1999 |
| Founder | Steven Klinsky |
| Headquarters | |
| Products | |
| AUM | US$55 billion (March 2024) |
Number of employees | 195 (2024) |
| Website | www |
| Footnotes /references [1] | |
New Mountain Capital (New Mountain) is an American alternative investment firm headquartered in New York City. The firm focuses on growth investing in mid-sized companies from economically acyclical industries.
Outside the U.S., the firm has offices in Europe and Asia.
New Mountain was founded in 1999 by Steven Klinsky who was a former partner at Forstmann Little & Company as well as the co-founder of Goldman Sachs' leveraged buyout unit. [2] Klinsky had a minor role during the buyout of RJR Nabisco as the top lieutenant to Theodore J. Forstmann. As a result, when Klinsky founded New Mountain, he wanted to take a different approach to other private equity firms which used high amounts of leverage. [3]
In September 2018, Blackstone Inc. acquired a 9% stake in New Mountain. [4]
In January 2021, it was reported that New Mountain had raised over $10 billion to perform investments. This came in the form of two funds, a $9.6 billion flagship private-equity vehicle and a $640 million pool earmarked for noncontrolling stakes in companies. [5]
As of 2024, New Mountain has returned more capital than it has invested. [3]
Mountain Capital has focused on building up mid-sized companies in predictable industries using modest amounts of debt. The companies are mainly family-owned businesses that have never made an acquisition or built operations outside of the US. In many deals, New Mountain forges novel corporate strategies. The approach has helped New Mountain earn large windfall gains at a time when many of its peers are struggling. Klinsky has stated there is a preference for mid-sized companies partially because they offer many more growth opportunities. [3]
At the start of each year, New Mountain's investment team will gather to actively debate which industries and sectors will yield the most attractive investment opportunities in the coming year and how they might evolve over the long term. This allows the firm to better respond to industry or economic shifts and move away less attractive industries and sectors. [5]
A leveraged buyout (LBO) is one company's acquisition of another company using a significant amount of borrowed money (leverage) to meet the cost of acquisition. The assets of the company being acquired are often used as collateral for the loans, along with the assets of the acquiring company. The use of debt, which normally has a lower cost of capital than equity, serves to reduce the overall cost of financing the acquisition. This is done at the risk of magnified cash flow losses should the acquisition perform poorly after the buyout.
The Carlyle Group Inc. is an American multinational company with operations in private equity, alternative asset management and financial services. As of 2023, the company had $426 billion of assets under management.
Private equity (PE) is stock in a private company that does not offer stock to the general public. In the field of finance, private equity is offered instead to specialized investment funds and limited partnerships that take an active role in the management and structuring of the companies. In casual usage, "private equity" can refer to these investment firms, rather than the companies in which they invest.
KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company. As of December 31, 2023, the firm had completed private equity investments in portfolio companies with approximately $710 billion of total enterprise value. Its assets under management (AUM) and fee paying assets under management (FPAUM) were $553 billion and $446 billion, respectively.
Blackstone Inc. is an American alternative investment management company based in New York City. It was founded in 1985 as a mergers and acquisitions firm by Peter Peterson and Stephen Schwarzman, who had previously worked together at Lehman Brothers. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate across the globe. Blackstone is also active in credit, infrastructure, hedge funds, secondaries, growth equity, and insurance solutions. As of May 2024, Blackstone has more than US$1 trillion in total assets under management, making it the world's largest alternative investment firm.
Forstmann, Little & Company was an American private equity firm, specializing in leveraged buyouts (LBOs). At its peak in the late 1990s, Forstmann Little was among the largest private equity firms globally. Ultimately, the firm would suffer from the bursting of the internet and telecom bubbles, having invested heavily in technology and telecommunications companies. Following the death of the last surviving founder, Theodore Forstmann, in 2011, the firm was dissolved and its assets sold off. It closed in May 2014.
TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American private equity firm based in Fort Worth, Texas. TPG manages investment funds in growth capital, venture capital, public equity, and debt investments. The firm invests in a range of industries including consumer/retail, media and telecommunications, industrials, technology, travel, leisure, and health care. TPG became a public company in January 2022, trading on the NASDAQ under the ticker symbol “TPG”.
Bain Capital, LP is an American private investment firm based in Boston, Massachusetts, with around $185 billion of assets under management. It specializes in private equity, venture capital, credit, public equity, impact investing, life sciences, crypto, tech opportunities, partnership opportunities, special situations, and real estate. Bain Capital invests across a range of industry sectors and geographic regions. The firm was founded in 1984 by partners from the consulting firm Bain & Company. The company is headquartered at 200 Clarendon Street in Boston with 22 offices in North America, Europe, Asia, and Australia.
HM Capital Partners was a private equity firm in the United States that specialized in leveraged buyouts. The firm was previously known as Hicks, Muse, Tate & Furst. It was founded in 1989 by Tom Hicks and John Muse as Hicks, Muse & Co. and was changed in 1994 to reflect the roles of Charles Tate and Jack Furst.
Madison Dearborn Partners (MDP) is an American private equity firm specializing in leveraged buyouts of privately held or publicly traded companies, or divisions of larger companies; recapitalizations of family-owned or closely held companies; balance sheet restructurings; acquisition financings; and growth capital investments in mature companies. MDP operates using an industry-focused investment approach and focuses on the following sectors: basic industries, business and government software and services, financial & transaction services, health care, and TMT services. Since the founders established MDP as an independent firm in 1992, the firm has raised seven funds with aggregate capital of approximately $23 billion, and has completed investments in more than 130 companies.
A private equity firm or private equity company is an investment management company that provides financial backing and makes investments in the private equity of a startup or of an existing operating company with the end goal to make a profit on its investments. The target companies are generally privately owned entities, but on rare occasions a private equity firm may purchase the majority of a publicly listed company and delist the firm after the purchase.
The history of private equity, venture capital, and the development of these asset classes has occurred through a series of boom-and-bust cycles since the middle of the 20th century. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel, although interrelated tracks.
The early history of private equity relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks.
Private equity in the 1980s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks.
Private equity in the 1990s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital, experienced growth along parallel although interrelated tracks.
Private equity in the 2000s represents one of the major growth periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital expanded along parallel and interrelated tracks.
Charterhouse Capital Partners is a London based private equity investment firm focused on investing in European mid-market companies valued between €200m and €1.5bn. The company targets investments across the services, healthcare, specialised industrials and consumer sectors.
A club deal, in finance, refers to a leveraged buyout or other private equity investment that involves two or more private equity firms. It can also be referred as consortium or syndicated investment.
Blackstone Credit, formerly known as GSO Capital Partners (GSO) is an American hedge fund and the credit investment arm of The Blackstone Group. Blackstone Credit is one of the largest credit-oriented alternative asset managers in the world and a major participant in the leveraged finance marketplace. The firm invests across a variety of credit oriented strategies and products including collateralized loan obligation vehicles investing in secured loans, hedge funds focused on special situations investments, mezzanine debt funds and private equity funds focused on rescue financing.
One Equity Partners is a private equity firm with over $10 billion in assets under management which primarily deals with the industrial, healthcare and technology sectors in North America and Europe. One Equity Partners was the merchant banking arm of JPMorgan Chase, focused on leveraged buyout and growth capital investments in middle-market companies. Formed by Bank One in 2001, the group has offices in New York City, Chicago, São Paulo, Vienna, Hong Kong and Frankfurt.
| Investment types | |||||||
|---|---|---|---|---|---|---|---|
| History | |||||||
| Terms and concepts |
| ||||||
| Investors | |||||||
| Related financial terms | |||||||
| International | |
|---|---|
| National | |
