New Mountain Partners VII closed in June 2024 with a total commitment of $15.4 billion, far exceeding its initial target of $12 billion. This amount includes $14 billion in commitments from institutional investors, reaching the "hard cap" set, as well as a notable $1.4 billion commitment from New Mountain Capital itself, representing the firm's largest commitment to date. New Mountain's prudent strategy, focused on organic growth and moderate use of leverage, was decisive in attracting investor confidence.
The PEI Awards are presented annually by Private Equity International, a leading global publication dedicated to private equity. Founded in 2001, PEI focuses on the relationship between institutional investors (LPs) and fund managers (GPs), providing in-depth analysis, exclusive data and reporting on market trends.
For the 2024 edition, PEI has implemented a new selection process, replacing the readers’ vote with a panel of judges composed of editors from the PEI Group. This panel evaluated the nominations based on qualitative and quantitative criteria, including non-financial considerations, in order to recognize excellence and innovation in the private equity sector. In the “Fundraise of the Year” category, evaluation criteria include: the fund’s final closing during the 12-month period under review; the fund’s ability to attract institutional investors, both regionally and globally; the performance of the fundraising effort relative to set targets; and the innovation and strategy employed during the fundraising process. Founded in 1999 by Steve Klinsky, the Fund manager with $55 billion in assets under management has built his strategy on a prudent approach that strives for excellence.
