New Mountain Capital, a defensive growth-oriented investment firm that manages more than $35 billion across private equity, credit, and net lease real estate, today announced the closing of a $507 million collateralized loan obligation, New Mountain CLO III, with Citi acting as the lead arranger. This is the third CLO issued by New Mountain Capital, following its debut CLO in October 2020.

"We are pleased to announce the successful close of our third CLO and appreciate the strong interest in the transaction from a broad range of global investors. Following the launch of New Mountain Capital's CLO platform last year, we have leveraged our deep defensive growth expertise to provide a differentiated offering for investors and are very pleased with the results we have delivered and look forward to continuing to build on our success thus far," said Robert Hamwee, Managing Director at New Mountain Capital.

Since inception, New Mountain has invested approximately $15.1 billion in credit. As of June 30, 2021, New Mountain manages approximately $7.9 billion in credit across private credit and broadly syndicated loans.