New Mountain’s Net Lease Strategy Acquires 53-Asset Portfolio for $640 Million

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NEW YORK--(BUSINESS WIRE)--Sep 9, 2025--

New Mountain Capital, LLC (the “Firm” or “New Mountain”), a leading growth-oriented alternative investment firm headquartered in New York, today announced that funds advised by New Mountain Net Lease have completed the acquisition of a 53-asset net lease portfolio for $640 million. The transaction represents New Mountain Net Lease’s largest acquisition since the strategy’s inception in 2016.

The predominantly U.S.-based portfolio spans 16 states, with additional assets in Canada, the UK, and Germany, and consists of preexisting long-term net leases to 11 institutional-quality tenants. The portfolio, which was acquired from a net lease real estate asset manager, provides exposure to mission-critical manufacturing assets across a diverse range of industries including food products and distributors, industrial machinery, supplies and components and pharmaceuticals, biotech and life sciences.

The assets involved closely align with New Mountain’s focus on defensive growth sectors, and New Mountain Net Lease was uniquely positioned to underwrite the portfolio due to its prior relationship with select tenants, deep sector expertise and considerable network of Senior Advisors.

The acquisition was made using capital from New Mountain Net Lease Partners II, L.P. (“NMNLP II” or the “Fund”), which held a final close with $825 million of equity capital commitments in June 2023.

“We are pleased to announce this milestone transaction for New Mountain Net Lease,” said Teddy Kaplan, Managing Director and Head of New Mountain Net Lease. “Investments like this that are complex, sizable and involve two sponsors transacting with each other, illustrate the evolution of net lease from a niche real estate subsector to an established, widely recognized asset class that spans a wide range of asset types. We will continue to focus on mission-critical assets in defensive growth sectors, where we believe that we are well positioned to pursue the most attractive opportunities in the net lease asset class.”

To date, New Mountain’s Net Lease strategy has completed $3.5 billion of net lease acquisitions across 65 transactions.

“This acquisition builds upon the strong momentum we’ve developed at New Mountain Net Lease over the past several years,” said Steve Klinsky, Founder and CEO of New Mountain. “As the asset class continues to expand, we believe our platform is ready to execute on the best opportunities available within our core power alleys and to expand our platform as one of the leading providers of net lease real estate.”

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than excessive risk, as it pursues long-term capital appreciation. The firm currently manages private equity, strategic equity, credit, and net lease real estate funds with nearly $55 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information, visit: www.newmountaincapital.com.

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KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: FINANCE PROFESSIONAL SERVICES COMMERCIAL BUILDING & REAL ESTATE ASSET MANAGEMENT CONSTRUCTION & PROPERTY

SOURCE: New Mountain Capital

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PUB: 09/09/2025 09:00 AM/DISC: 09/09/2025 08:59 AM

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