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Special Report - New Mountain Capital
April 2025

New Mountain Capital : top-quartile performance and a diversified network of global investors

Published on
10/4/2025
Amended on
14/4/2026
0
minute(s)
Odyssey 2023
New Mountain Capital
Since its creation in 1999, New Mountain Capital has built its reputation on the stability and consistent performance of its buyout funds, consistently ranking in the top quartile* of global private equity managers. True to its prudent and rigorous investment philosophy, the firm maintains strict requirements when selecting companies, with a meticulous approval process by its investment committee.
By
Damien Hélène
Damien Hélène
New Mountain Capital : top-quartile performance and a diversified network of global investors
This article has been automatically translated. Please excuse any inaccuracies or translation errors.
Dieser Artikel wurde automatisch übersetzt. Bitte entschuldigen Sie etwaige Ungenauigkeiten oder Übersetzungsfehler.
This article has been automatically translated. We apologize per inaccuracies or translation errors.

"We review nearly 1,000 companies a year, and then select just 8-10," explains Steve Klinsky, founder and CEO of New Mountain Capital. "Our criteria have become increasingly stringent over time. Each investment must first answer a key question: is it secure enough for us to double our stake, even if the economic environment deteriorates?"

A network of global investors

New Mountain Capital 's investor profile has broadened considerably over the past two decades. Initially, the firm's main investors were US pension funds, such as the California Public Employees' Retirement System (CalPERS) and the Pennsylvania State Pension Fund, which continue to be among its long-term partners**.

Today, the Fund manager—which is included in the Vintage FPCI Altaroc Odyssey portfolio and is part of the investment universe for the Vintage FPCI Altaroc Odyssey portfolio—has attracted more than 350 investors from a wide range of backgrounds, including European institutions, Canadian sovereign wealth funds, family offices, and institutional investors from Asia and the Middle East**. “We have strengthened our international presence by successively launching new funds,” Klinsky notes. “More and more family offices, now operating with the same rigor as institutions, are joining our investor base.”

This geographic and typological diversification provides New Mountain with a high degree of stability and an enhanced ability to raise funds rapidly, while meeting the specific expectations of its various financial partners.

* Source: Pitchbook - Global LBO Growth Equity - December 31, 2023. ForOdyssey Vintage , 2022, and 2023 Vintage funds, the mature funds of the 15 selected managers generated an average net performance of 2.26x and IRR of 21.8% IRR arithmetic mean of the net performances of funds from Vintage ), which exceeds the threshold required to rank in the top quartile (2.06x / 21.7%) for the Vintage . A fund is in the top quartile when its net performance exceeds that of 75% of the funds in its Vintage.

** It is not specified whether these investors support New Mountain or its products.

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