New Mountain Capital has held a final close of its fourth private equity fund, New Mountain Partners IV, LP, with $4.1 billion of capital commitments. The $4.1 billion of capital commitments consists of $4.0 billion from third party limited partners and $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.
Since 2000, New Mountain has invested in 29 companies, including three for Fund IV thus far: ACA Compliance, a provider of regulatory compliance consulting services to the financial services industry (www.acacompliancegroup.com); Alexander Mann Solutions, a provider of technology-enabled recruiting, staffing and other human resource services (www.alexandermannsolutions.com); and Medical Specialties Distributors, a specialty distributor of parts and equipment to home infusion therapy providers (www.msdonline.com).
New Mountain Capital currently manages private and public equity funds with over $15 billion of assets under management. The firm is an industry generalist but has specific expertise in education, health care, software, business services, logistics, specialty chemicals, federal services, media, consumer products, financial services and insurance, environmental services, infrastructure and energy. New Mountain was founded in 1999 and is headquartered in New York (www.newmountaincapital.com).
2014 PEPD • Private Equity’s Leading News Magazine • 10-9-14