Interview Steve Klinsky - New Mountain Capital

In this interview, Steve Klinsky, founder and CEO of New Mountain Capital, reflects on his career as a pioneer in the U.S. private equity industry and outlines the strategy of his firm, which was founded in New York in 2000.New Mountain Capital distinguishesNew Mountain Capital through an approach centered on “defensive growth,” which involves investing in non-cyclical sectors capable of sustainable growth while protecting capital. The firm focuses on mid-sized companies in sectors such as healthcare technology, infrastructure services, critical data, and life sciences. The strategy is based on in-depth thematic screening. New Mountain identifies sectors with growth potential over a ten-year horizon, analyzes several hundred companies, and selects only a very limited number. This discipline allows the firm to avoid overvalued sectors and remain flexible in response to market cycles. Steve Klinsky emphasizes the importance of risk protection. New Mountain maintains a controlled level of debt, prioritizes resilient business models, and deploys over 100 professionals to support portfolio companies. This approach aims to build stronger companies rather than relying solely on financial leverage.The interview illustrates this method with two examples: Blue Yonder, which became a global leader in supply chain software before its sale to Panasonic, and Signify, a home healthcare provider sold to CVS. These investments demonstrate how New Mountain transforms solid business foundations into industry leaders through an industrial, technological, and operational strategy. Finally, Steve Klinsky shares his vision of the market. In his view, private equity has evolved from a simple financing method into a true form of business building. The best funds no longer settle for merely providing capital: they become builders capable of sustainably improving the companies they support.