Updated views / perspectives on New Mountain Capital
Title. Hoping to get a picture into NMC culture, promotion, comp, b-school exits, etc. Is this a good place to go after banking?
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Based on the most helpful WSO content, New Mountain Capital (NMC) is generally well-regarded. Here's a breakdown of key aspects:
Culture: NMC is known for having a strong culture with smart, genuine people. It's not considered a sweatshop, but you should expect significant hours (70-80 per week, with some weekend work). While it's not as intense as firms like Apollo or H&F, the hours are still long, as is typical in UMM PE.
Promotion: The firm has a solid reputation for career progression, though specifics on promotion timelines aren't heavily detailed in the threads.
Compensation: While exact figures aren't provided, the compensation is competitive for UMM PE, aligning with the expectations of the industry.
B-School Exits: NMC has excellent B-school placement, with strong representation at top programs like HBS and GSB. This is partially attributed to the firm's alumni network and connections with these schools.
Overall Reputation: NMC is seen as a great place to transition to after banking, especially if you're looking for a strong culture, good returns, and solid exit opportunities. It's a highly regarded offer in the UMM PE space.
If you're considering NMC, it seems like a strong choice, especially if you're prepared for the hours and want a reputable platform with good long-term prospects.
Sources: Reputation of New mountain capital, Updated view on Carlyle (specifically TMT Group)?, Lay of the Land - EBs, 2017 Commercial/Corporate Banking Bonuses, Banking -> PE -> Banking (Updated views?)
Great firm -- good returns, strong growth trajectory. Heard they work hard but interesting investments. Generalist program but Associates eventually start to get slotted into niches by their second year. Strategy of buying great businesses and using slightly less leverage
Just raised a ~$15Bn fund (they were significantly oversubscribed) last year after a ~$10Bn one in 2021. Massive growth and already a very large firm sounds like an elite place to be. I am not in PE so cannot speak to much more, but they are good to work with on the banker side of things. Generally, if you are at a growing firm, much more room for promotions vs at a more legacy place with less rapid AUM/fund size growth since increased need for more people for scaling for a firm rapidly scaling. Basically, one of the best seats I can think of in terms of being in PE.
Echoing the above - one of the few firms in the MM / UMM that has grown in this terrible fundraising environment
Have heard it's a bit tough culture / long hours but to be expected...
Have heard the same. Strong returns. Associates are sharp, but work arduously. Pretty sure some of the Associates there want to off themselves though.
Have heard awful things about culture, VPs there are near robotic, no care for juniors
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R they filled for 26? HH won’t show me them and I’m itching
Bump
Very often listed as a tier 1 buyer alongside BX, KKR, H&F, CVC for most sellside processes
That just means how likely they’re to buy and not if they’re any good
Very sweaty is the chatter
Guess it isn't a surprise but super sweaty culture
isn't substantially all the GP owned by Klinsky as well as the vast majority of the carry pool in his hands? Obviously he deserves it but i have heard outlandish numbers thrown around for his allocation.
Of course, this isn't to say that you cant do well there... 15bn is a lot of carry dollars at work..
bump
Yeah they have raised well but imo that is due to some crazy winners that are not exactly indicative of any differentiation. But that is literally every PE firm. The only differentiation is at some of the turnaround shops with industry playbook think kps, size think the regular suspects nmc included, and hairy complexity guys think CB/apo HV/cerb/etc
Disagree heavily, there is various ways for differentiation outside of purely turnaround shops. There are specialty sector specialists, for instance, simply smarter in their space than others. Some funds differentiate themselves operationally or geographically, for example. I think forums like these and people in the distressed world think too much. If distressed or turnaround players were so good and differentiated, they would all perform that much better than the other PE firms.
Couldn't agree more.
drawdown distressed vehicles net out to a below 2.0x MOIC on average? Depending on vintage. There is an argument for shorter vehicle duration but post reorg is usually held to same duration as PE positions.
Its like, oh you're an expert on BK process? Wow, that's very cool.
Ok, well I'll choose MM PE at >2.0x MOIC with less headaches & cynicism. Also, better pay on average.
Are they done with 2026 recruiting? When did they run their process? Don't think they went during on-cycle
Does new mountain go on cycle? Heard they interviewed ppl but didnt take any/many?
Any insight on their model test?
they don’t have one
probably one of the sickest offices on the street too if u care ab that
If you’re some masochist that loves Times Square then maybe yeah
fair enough - have you seen the actual interior though?
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