New Mountain Capital announced the closing of its second non-control private equity fund.
The fund, New Mountain Strategic Equity Fund II, closed at $1.2 billion, exceeding its hard cap of $1 billion.
New Mountain, founded in 1999 and based in New York, is a growth-oriented investment firm. Areas of focus for the firm include life science supplies, healthcare and healthcare technologies. New Mountain’s private equity strategy sees the firm pursuing controlling stakes, with New Mountain generally investing between $100 million and $500 million per transaction in companies with enterprise values typically between $100 million and $1 billion.