Firms & Funds

'Banks are coming back to underwriting big transactions,' the system’s deputy CIO told investment committee members.

At $12.4bn, the flagship is already the largest in New Mountain’s 25-year history, exceeding by 29% the size of its 2020-vintage predecessor.

I’ve talked to LPs who feel that key-person provisions have become diluted as they are spread across larger groups of partners, rather than one or two main individuals, essentially de-fanging such protections.

This is a steep increase from how much it committed in 2023, and bodes well for managers looking for capital.

Fund VII is a 'combined fund' that allows LPs the option to invest in underlying buyout and growth equity sleeves.

The possible changes would reduce a steady stream of capital to VC and growth equity managers.

The firm also closed a large secondary deal that raised about $2.1bn, which the firm combines to consider a total fundraising of more than $24bn, sources told Buyouts.

Chris Carter, who has been a managing partner at the firm since 2015, heads the company.

Reflecting the founders’ backgrounds, Crosspoint has a heavy focus on operational experts on its deal team, but has lost some investment professionals in recent years.

Selwood was 51.