Alternative investment firm New Mountain Capital raised $825M after closing its second net lease real estate fund. The New Mountain Net Lease Partners II (NMNLP II) fund exceeded its initial target of $750M. Of the total amount, $725M represents third-party Limited Partner commitments, and around $100M came from the General Partners. - New Mountain Capital plans to target middle-market facilities and private equity-sponsored businesses and invest $5M to $75M of equity per transaction.
- The company believes its net lease strategy would provide a non-cyclical and consistent cash yield.
- So far, New Mountain Capital has completed $1.9B worth of net lease acquisitions from 47 transactions through the net lease strategy.
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