Matt Holt Plans $30 Billion Buyout of New Mountain Assets

New Mountain Capital’s Matt Holt is leaving the firm and is in talks to buy five of its portfolio companies in a deal valued at more than $30 billion, according to people familiar with the matter.

Holt, who was managing director and president of private equity at New Mountain, plans to create a new company called Thoreau, which would provide a health-care technology platform that plans to use artificial intelligence to help lower health-care costs, the people said. Holt’s plans are backed by alternative asset manager ICG Strategic Equity, said the people, who asked not to be identified because the information was confidential.