New Mountain Turns Toward Debt

Yesterday we reported that Rob Hamwee had joined New Mountain Capital, after having spent the past 14 years with GSC Group and its various affiliates. New Mountain isn’t commenting (save for its receptionist passing me through to Rob’s voicemail), but we do have a few additional details:

Hamwee is officially a managing director with New Mountain, and is expected to focus on debt opportunities (particularly on the distressed side). Kind of interesting for a firm that prides itself of eschewing leverage on its buyouts… The firm has some strategy flexibility in its $5.1 billion third fund, but it probably will launch a separate fund-raise for Hamwee’s activities. No major staff-up planned, although a few junior hires are possible…