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New Mountain Capital Closed on $1.15 Billion for Guardian III Private Credit Fund
Guardian III meaningfully above target size; will have $2.0 billion in investable capital, including leverage NEW YORK--(BUSINESS WIRE)-- New Mountain
About this update from New Mountain Finance Corporation
[{"type":"text","content":"\nGuardian III meaningfully above target size; will have $2.0 billion in investable capital, including leverage\n\n NEW YORK--(BUSINESS WIRE)--\nNew Mountain Capital (the “Firm” or “New Mountain”), managing over $35 billion across private equity, credit, and net lease real estate, today announced the closing of its latest direct lending fund, New Mountain Guardian III BDC, L.L.C. (the “Fund” or “Guardian III”) with approximately $1.15 billion of capital commitments from a diverse group of investors. Commitments included a substantial investment from the General Partner and employees of the Firm. The Fund is expected to have approximately $2.0 billion in investable capital, including leverage. Consistent with the Firm’s investment philosophy, New Mountain’s private credit strategy focuses on lending to the highest quality companies in select, non-cyclical defensive growth industries.\n\nAs of September 30, 2021, Guardian III had already deployed more than $1.1 billion into 79 portfolio companies across a variety of high quality, non-cyclical industries including enterprise software, business services, healthcare services and healthcare technology. These are all industries that New Mountain has differentiated knowledge in, and focuses on, within its private equity strategy.\n\nSteve Klinsky, Founder & CEO of New Mountain Capital, said, “We would like to thank our investors for their strong support. We believe New Mountain’s investment philosophy of focusing on defensive growth industries where we have deep expertise continues to be a successful strategy for our credit business and proven to be a key differentiator.”\n\nRobert Hamwee, Managing Director and co-portfolio manager of the private credit strategies at New Mountain, added, “We believe that the current environment, where robust sponsor deal activity and strong overall credit conditions are coupled with continued uncertainty and volatility in certain sectors, is especially well-suited to our agile and selective approach to credit investing. We look forward to working with leading sponsors and portfolio companies to support their growth while pursuing attractive and consistent returns.”\n\nJohn Kline, Managing Director and co-portfolio manager of the private credit strategies at New Mountain, also added, “We were very pleased to see the strong reception Guardian III received...