Steve Klinsky, private equity pioneer and founder of New Mountain Capital

In 1999, after fifteen years with Forstmann Little & Co. - where he was successively associate partner and then general partner - Steve Klinsky decided to strike out on his own. There, he had managed seven private equity and debt funds totalling over $10 billion. He then founded New Mountain Capital, with the ambition of building an investment platform focused on sustainable value creation and strategic growth. Twenty-five years later, the firm has established itself as one of the most rigorous and differentiating players in the US mid-market.

"My role as CEO is to ensure that we make the right decisions and that the company culture stays true to its principles," he explains in an exclusive interview with Altaroc in his New York office. With over 260 employees, Klinsky ensures that key talents are in the right roles. Although he sometimes sums up his role with a touch of humor - "I drink coffee while everyone does their job" - his day-to-day involvement remains essential to maintaining the momentum of a firm that has distinguished itself by its consistent performance and disciplined approach.

Since its creation in 1999, New Mountain Capital has distinguished itself by its unique investment strategy, focused on defensive growth and protection against cyclical risks. Unlike other private equity players who adopt a purely financial approach, New Mountain favors a family business philosophy, based on sustainability and long-term value creation.

"We don't have a portfolio theory where some companies succeed while others fail," explains Steve Klinsky. "We want every investment to be solid and protected, like a well-managed family business."

This strategy is based on a rigorous selection of sectors: New Mountain targets non-cyclical markets capable of long-term growth, such as healthcare and data technologies. This choice of "resilient" sectors is combined with prudent debt management, with a debt/EBITDA ratio of around four times, well below market standards. This approach gives the Group room for manoeuvre in the event of an economic slowdown.

"We have over 100 operational experts who can intervene directly in the field to support companies and get them back on track when needed," Klinsky stresses.

The Fund manager, who is part of the Vintage FPCI Altaroc Odyssey portfolio and the investment universe for the Vintage FPCI Altaroc Odyssey , takes a proactive approach by continuously reassessing sector allocations to ensure the portfolio is always positioned in markets poised for growth in the years ahead.