Reputation of New mountain capital
Wondering if anyone had any info on the rep of New Mountain Capital. Also particularly interested in the Work life balance and how sweaty of a shop it is.
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I've worked with the team there pretty extensively on the PE side, don't know about credit or their HF arm. Solid group of folks in senior ranks -- smart, earnest, more genuine / "human" than a lot of the market. Tend to be pretty conservative with leverage and pursue a growth-oriented strategy as opposed to tons of cost cutting. Have done some reasonably creative deals like the launch of CIOX (merger of 3-4 different HCIT platforms) and Avantor (similar approach for chemicals industry)
They do more deals per year than comparably sized funds which can point to sweaty, but FWIW their portfolio is also relatively concentrated from a sector perspective (lots of healthcare, chemicals, etc.) which often enables you to progress faster in DD.
I have had a few "mentorship calls" with a senior partner there (and some email exchanging). I reached out to him cold and he helped me strategize how to break into PE. We stay in touch and as far as I can tell he is a good guy. If he is at all representative of the firm I would want to work there.
Have heard good things as well. My impression is they work pretty significant hours (not sweatshop status, but not a cakewalk either) but have a good crop of smart, genuine people. Also have strong returns (recently had PE Hub deal of the year) and great B School placement. All in all would definitely take an offer from New Mountain.
Thanks - I got an offer her, but am wondering what "significant hours" really means. The Apollo sweatshop thread was giving me anxiety lol
Based on what I've heard from friends/firm alumni I would say you should expect 70-80 with a fair amount of weekend work, but I don't think you'll be grinding many weeks past 90. Which, honestly, if you're looking at PE from consulting is maybe a tad high on hours but nothing like Apollo or even H&F (for a more consultant-friendly comparison).
If you want to do UMM PE, you have to accept that the hours will be pretty long. If you accept that, New Mountain is an incredible offer I would advise you to take. If you don't want long hours, look for some smaller funds that don't have the 'brand name' but may have more friendly work-life balance. Either way - congrats on the offer!
are they off cycle and what was your process like?
curious also
Bump
Very sweaty given high volume of deals even with relatively large fund sizes. Lots of junior attrition because of this after COVID.
I'd consider them just shy of upper echelon. They've had trouble raising money lately and did a big GP-led that pissed some LPs off.
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