New Mountain Capital is launching Atlas, a new continuation vehicle strategy that will sponsor GP-led deals to invest in high-quality companies that are not up for sale. The New York-based firm, which manages approximately $60 billion in assets, began building the strategy in early 2025 and hired secondaries veteran Neal Costello from AlpInvest Partners to co-lead it. New Mountain is seeking to raise up to $2 billion for the strategy and filed a Form D for New Mountain Atlas I on May 15, 2026. The firm aims to act as a solutions provider and lead or co-lead investor in third-party continuation vehicles, leveraging its primary buyout experience to negotiate favorable terms and move quickly to lock in pricing. The approach is informed by New Mountain's own track record, including a $3.1 billion continuation vehicle for portfolio company Real Chemistry and a deal that combined Azuria and Inframark into one entity in April 2026.
New Mountain Finance Corporation