New Mountain closes Fund IV on $4.13 bln

New Mountain Capital has closed its fourth fund on $4.13 billion, beating its original $3 billion target.

[contextly_sidebar id=”2FsBBmQafb4Zzki7zgdhahBSzHgp5AmA”]LPs made commitments of $4 billion, which was the fund’s hard cap, while New Mountain’s GP and affiliated backers committed more than $130 million.

So far, New Mountain has invested in ACA Compliance, Alexander Mann Solutions and Medical Specialties Distributors from its Fund IV.

The firm has assets totaling about $15 billion.

Its previous fund New Mountain III was generating a net IRR of 11 percent and investment multiple of 1.4x as of March 31, 2014, according to CalPERS data.

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