New Mountain Capital closes fourth fund on $4.13 billion

The New York-based fund beat its $4 billion hard cap

New York-based New Mountain Capital has closed its fourth fund on $4.13 billion. The fund beat its $3 billion target, and $4 billion hard cap.

The fund launched last year, and Credit Suisse assisted with fundraising for the firm according to Private Equity International’s research and analytics division.

New Mountain declined to comment on fundraising.

New Mountain Partners IV will make buyout transaction sizes around $300 million three to four times a year in mid market enterprises. Total transactions in the fund will equal 15, the same as the firm's Fund III.

The fund includes $4 billion of third party LP commitments, and over $130 million from the GP and affiliated investors.

Since 2000, New Mountain has invested in 29 companies, including three for Fund IV thus far: ACA Compliance, Alexander Mann Solutions and Medical Specialties Distributors. New Mountain currently has approximately $15 billion of assets under management, including its private equity, public equity and debt investment efforts.