Net Lease Market Shows Stability<\/a><\/p>\n\n\n\n
\n\n\n\nThe firm noted the portfolio provides exposure to mission-critical manufacturing assets across a range of industries such as food products and distributors, industrial machinery, supplies and components as well as pharmaceuticals, biotech and life sciences. New Mountain described the assets as closely aligning with the firm\u2019s focus on defensive growth sectors.<\/p>\n\n\n\n
Calling the acquisition a milestone transaction, Teddy Kaplan, managing director & head of New Mountain Net Lease, said in a company statement the firm believes mission-critical assets in defensive growth sectors are well positioned to provide the most attractive opportunities in the net lease asset class. He stated that the complex and sizable transaction illustrates the evolution of net lease from a niche real estate subsector to an established, widely recognized asset class that spans a range of asset types.<\/p>\n\n\n\n
Steve Klinsky, founder & CEO of New Mountain, said in prepared remarks the acquisition builds on the strong momentum New Mountain Net Lease has developed over the past several years. He expects the platform to continue to expand along with the asset class.<\/p>\n\n\n\n
Net lease fund details<\/h2>\n\n\n\n
In addition to its relationship with some of the tenants, its deep sector expertise and network of senior advisors, New Mountain Net Lease also brought significant capital to the deal from NMNLP II that closed just over two years ago.<\/p>\n\n\n\n
The fund was the firm\u2019s second net lease real estate fund. Of the $825 million in equity capital raised, about $725 million represented third party Limited Partner commitments. The remainder came from the General Partner. The total amount raised surpassed the initial fundraising goal of $750 million. New Mountain said the fund included several new participants as well as previous investors, and included commitments from pension funds, insurance companies, asset managers, endowments, high-net worth individuals and family offices.<\/p>\n\n\n\n
The fund targets middle market facilities and private equity-sponsored businesses, with investments ranging from $5 million to $75 million of equity capital per transaction. By the final close in June 2023, the fund had executed six transactions representing about $315 million of acquisition value and $115 million of equity capital commitments.<\/p>\n\n\n\n
New Mountain currently manages more than $55 million in assets under management across private equity, strategic equity, credit and net lease real estate funds.<\/p>\n","protected":false},"excerpt":{"rendered":"
The transaction includes 53 mission-critical manufacturing assets.<\/p>\n","protected":false},"author":1068,"featured_media":1004771009,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,21783,23891,21742],"tags":[52075,52077,52076],"class_list":["post-1004771004","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-national","category-latest","tag-new-mountain-capital","tag-new-mountain-net-lease","tag-new-mountain-net-lease-partners-ii"],"acf":[],"yoast_head":"\n
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<\/a>