New Mountain Capital, LLC, an alternative asset management investment company, has raised $15.4 billion under the seventh New Mountain Partners VII, L.P. control fund and related entities (Fund VII). This is reported in a press release New Mountain.
Investor demand for Fund VII funds significantly exceeded supply and closed at $14.0 billion for the obligations of limited liability partners plus $1.4 billion for the obligations of common partners.
The previous flagship fund Fund VI also exceeded the number of subscribers and was closed in 2020 with a commitment volume of $9.6 billion. Currently, the fund is fully invested in platform companies, and the remaining capital is reserved for subsequent development investments.
Fund VII's investors include 400 of the world's leading pension funds, insurance companies, sovereign wealth funds, asset managers, endowment funds, family offices, RIAS, as well as wealthy individuals. The vast majority of Fund VI investors have returned as Fund VII investors plus 100 new investors worldwide.
Fund VII has already acquired two companies, including Consor Holdings, a supplier of wastewater transportation and treatment equipment, and Grant Thornton Advisors LLC, a consulting company.
Simpson Thacher & Bartlett acts as a legal advisor to Fund VII.
New Mountain Capital is an American private equity fund management investment company with $55 billion in assets under management. New Mountain is looking for leading companies in various industries and increasing the value of equity. Since January 2021, New Mountain has invested $10 billion in the acquisition of 30 new platforms. It is headquartered in New York City with offices in London, Tokyo and Los Angeles.
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