New Mountain Capital has kicked off its GP-led secondaries strategy by backing the Corsair CV deal. The firm has been raising its first pool focused on GP-led transactions, collecting about $1.4bn on a $2bn target, PEI Secondaries Investor understands.\n\nThe deal marks a significant move for New Mountain as it enters the GP-led market, which has seen increased activity from large alternative asset managers. The firm's fundraising efforts are ongoing, with a target of $2bn for its dedicated GP-led vehicle.\n\nBy Chris Witkowsky, the article notes that this strategy aligns with broader industry trends, where firms are leveraging secondaries to provide liquidity and extend fund life.
New Mountain's entry underscores the growing importance of GP-led deals in the secondaries market.
Source: Secondaries Investor · Summarized by HeadlinesBriefing