Deals
Blackstone Nears Deal for New Mountain Capital Stake
- Talks involve sale of less than 10% of New York buyout firm
- Transaction would be done by Blackstone Strategic Capital
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A Blackstone Group LP unit that buys stakes in alternative asset managers is nearing a deal for a minority investment in New Mountain Capital LLC, according to people familiar with the matter.
Blackstone Strategic Capital Holdings is in talks to acquire less than 10% of New Mountain, said one of the people, who asked to not be identified because the information is private. The New York-based firm plans to use proceeds from the deal for growth investments, this person said.