New Mountain Capital
Growth equityNew York · Growth–Late Stage · 6 people tracked
Also known as NEW MOUNTAIN CREDIT CLO ADVISERS, L.L.C. · NEW MOUNTAIN FINANCE ADVISERS, L.L.C.
Investment thesis
New Mountain Capital applies a 'defensive growth' investment philosophy centered on business building and growth in economically acyclical industries. Its private equity strategy acquires and builds high-quality leaders in carefully selected defensive growth sectors. Its credit strategy extends the same philosophy to corporate lending opportunities, while its net lease strategy targets operationally critical real estate assets owned by sponsor-backed companies in defensive growth industries. The firm emphasizes growth and value creation rather than financial engineering alone.
Source: firm website, verified Aug 25, 2026.
Team · 6 people
from the firm's websiteWhat they invest in
from 17 of 53 portfolio companiesHealthtech ×9Digital Health ×4AI & Machine Learning ×3Biotech ×3Consumer ×3E-commerce ×3InsurTech ×3Advanced Manufacturing ×1
HQs:United States×9India×1
Investments · 53 tracked
founders shown can be your intro pathABB Optical Group is a wholesale distributor and services provider for eye care providers, offering contact lenses, specialty vision products, optical lab services, and practice technology tools.
E-commerceHealthtechMedical Devices
Access Healthcare provides business process and IT services to the healthcare industry, with expertise in revenue cycle management and healthcare operations.
AI & Machine LearningEnterprise SoftwareHealthtech
Co-investorsPerot Jain
Alteon Health is a physician-owned and physician-led acute care medical group that partners with hospitals and health systems to provide hospitalist medicine, post-acute care, and clinical staffing.
Digital HealthHealthtech
Co-investorsFrazier Healthcare Partners
Amwins is a wholesale insurance broker and specialty insurance distributor that provides retail agencies and insurance carriers with access to specialty markets, proprietary products, actuarial services, and program development.
InsurTechCharlotte, US
M. Steven DeCarlo(Manager)Scott M. Purviance(Manager)Stuart Szabo(Manager)Baljit Dail(Manager)
BoardBenjamin R. Sloop(Manager)Matthew Ebbel(Manager)
Co-investorsGenstarParthenonDragoneer Investment Group
VWR (part of Avantor) is a distributor of laboratory and production products and services, offering life science reagents, chemicals, lab equipment, consumables, safety/PPE, and furniture.
BiotechE-commerceHealthtechNew York, US
Harris Kealey(Executive Officer)
BoardAndre Moura(Executive Officer)Joseph Walker(Executive Officer)Matthew S. Holt(Executive Officer, Director)
BiotechWarren, US
Parag Shah(Vice President of Business Operations)Martin Dekker(Vice President of Engineering and Manufacturing)Peter Fernandes(Chief Regulatory and Safety Officer)Fabian Tenenbaum(Chief Executive Officer and Director)Deborah Quinn(Chief Medical Officer)Robert Nelsen(Director)
Careismatic Brands manufactures and sells uniforms and apparel for healthcare professionals through a portfolio of market-leading brands.
ConsumerHealthtech
Co-investorsNexus Capital ManagementPortland Seed Fund
Convey Health Solutions provides technology and service solutions for health plans, supporting member acquisition, management, engagement, and retention across the member journey.
Digital HealthHealthtechSaaS
Katch works with health plans across the United States to identify and coordinate health care claim payments, aiming to ensure claims are processed correctly and securely.
Digital HealthHealthtechInsurTech
Gelest produces silicon-based and metal-organic chemistry products and provides technical guides and documentation covering the science behind its products and applications.
Advanced ManufacturingNew Materials
MAG Aerospace is a U.S.
Defense Tech
Co-investorsAea InvestorsVestar Capital Partners
OneDigital is a benefits, insurance, and financial advisory firm serving employers across North America, offering advisory services around employee health benefits, financial security, and workforce strategy.
FintechHR TechInsurTech
Mike SullivanVinay Gidwaney
RRC is a full-scope engineering firm focused on utility-scale renewable energy projects across solar, wind, and energy storage, and also provides engineering and consulting for the oil and gas sector.
CleantechClimate TechEnergy
Generative AI-driven solutions for optimizing inpatient clinical documentation and workflows
Co-investorsRittenhouse Ventures
SmarterDx uses clinical AI to analyze patient records and help health systems capture accurate reimbursement, reduce denials, and improve quality metrics.
AI & Machine LearningHealthtech
Co-investorsDrive CapitalTriplePoint Capital
TOPIX develops and manufactures skincare formulations sold to physicians and skin care professionals, targeting concerns such as anti-aging, brightening, and acne.
ConsumerHealthtechWellness & Fitness
TRC is a consulting and engineering services firm that positions itself around adaptability and helping clients navigate change.
Sector Agnostic
Co-investorsEnergy Impact Partners
Exits · 1
IPOs and acquisitions across the tracked portfolioAlteon Healthacq. by US Acute Care Solutions
Portfolio news
latest coverage across their companiesThoughtful Automation · finance.yahoo.com · Apr 10, 2025
Fund performance · per public LP disclosures · 11
as of Jun 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| New Mountain SRC Continuation Fund, L.P. Private EquityLPs: Pennsylvania Public School Employees' Retirement System | 2025 | — | — | 1.00x | 1.00x |
| New Mountain SRC Rollover Fund, L.P. Private EquityLPs: Pennsylvania Public School Employees' Retirement System | 2025 | — | — | 1.00x | 1.05x |
| New Mountain Partners VII, L.P.LPs: Washington State Investment Board, California Public Employees' Retirement System, San Diego County Employees Retirement Association +2 more | 2023 | — | 38.6% | 1.21x | 0.00x |
| New Mountain CAS Continuation Fund, L.P.LPs: California Public Employees' Retirement System | 2021 | — | -0.8% | 0.98x | 0.27x |
| New Mountain Partners VI, L.P.LPs: Washington State Investment Board, California Public Employees' Retirement System, Pennsylvania Public School Employees' Retirement System +2 more | 2021 | — | 16.2% | 1.50x | 0.15x |
| New Mountain Partners VI, L.P. Private EquityLPs: Pennsylvania Public School Employees' Retirement System | 2020 | — | — | 1.30x | 1.28x |
| New Mountain Partners V, L.P.LPs: Washington State Investment Board, Pennsylvania Public School Employees' Retirement System, Nebraska Investment Council +1 more | 2017 | — | 25.1% | 2.30x | 1.83x |
| New Mountain Partners IV LPLPs: Florida State Board of Administration, San Diego County Employees Retirement Association, Nebraska Investment Council +1 more | 2014 | — | 19.3% | 2.01x | 1.89x |
| New Mountain Partners III LPLPs: California Public Employees' Retirement System, Pennsylvania Public School Employees' Retirement System, Florida State Board of Administration +10 more | 2007 | — | 14.5% | 2.40x | 2.37x |
| New Mountain Partners II LPLPs: California Public Employees' Retirement System, Oregon Public Employees Retirement System, Florida State Board of Administration +4 more | 2005 | — | 13.6% | 1.93x | 1.93x |
| New Mountain PartnersLPs: New York City Police Pension Fund, New York City Fire Department Pension Fund, New York City Employees' Retirement System +1 more | 2001 | — | 12.3% | 1.45x | 1.45x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has New Mountain Capital made?
- New Mountain Capital has 50 tracked investments, 1 of which have exited via acquisition or IPO.
- What stage does New Mountain Capital invest at?
- New Mountain Capital invests at the Growth, Late Stage stages.
- What sectors does New Mountain Capital focus on?
- New Mountain Capital focuses on Advanced Manufacturing, Biotech, Cleantech, Climate Tech, Construction Tech, Data & Infrastructure, Energy, Enterprise Software, Fintech, FoodTech, GovTech, Healthtech, Logistics & Supply Chain, New Materials, PropTech, SaaS, Sector Agnostic.
- Where is New Mountain Capital located?
- New Mountain Capital is headquartered in New York, US.
- Who does New Mountain Capital co-invest with?
- New Mountain Capital most often shares deals with Aea Investors, Energy Impact Partners, Frazier Healthcare Partners, among 9 tracked co-investors.
Media · Podcasts & interviews
featuring the teamThe Business Builder: New Mountain Capital's Steve Klinsky | Goldman Sachs
Steve Klinsky · goldmansachs.com
New Mountain Capital’s Steve Klinsky explains his focus on building businesses. - YouTube
Goldman Sachs · Steve Klinsky
Steve Klinsky, Founder & Chief Executive Officer, New Mountain Capital - YouTube
Alt Goes Mainstream (AGM) · Steve Klinsky
New Mountain Capital CEO Steve Klinsky on the state of private equity, 2024 outlook - YouTube
CNBC Television · Steve Klinsky
Steve Klinsky, New Mountain Capital – Private Equity Titan - YouTube
The Meb Faber Show · Steve Klinsky
Hill TV’s Investing in America Interview Series – New Mountain Capital Founder & CEO Steve Klinsky - YouTube
American Investment Council · Steve Klinsky
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