Steve Klinsky, New Mountain Capital – Private Equity Titan | #489

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 12 July 2023

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s guest is Steve Klinsky, founder and CEO of New Mountain Capital, a private equity firm with over $37 billion in assets under management. Steve began his time in private equity when he co-founded Goldman Sachs’ Leverage Buyout Group back in 1981 when there were very few private equity firms around. In today’s episode, Steve shares how the private equity industry has evolved over his career to go from a focus on financial engineering to a focus on building businesses. Then he talks about the opportunity today in private credit and what the key drivers are to helping businesses grow and generate returns for both the employees and his firm. He even walks us through some real deals, including his sale of Signify Health to CVS earlier this year for a $8 billion. Enjoy learning about private equity? Check out episode 482 here. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today's episode is sponsored by YCharts. YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. YCharts offers a suite of intuitive tools, including numerous visualizations, comprehensive security screeners, portfolio construction, communication outputs, and market monitoring. Visit YCharts to start your free trial and be sure to mention "Meb" for 20% off your subscription. (New clients only). Download a copy of YCharts’ latest white paper taking a deeper look into the performance of various portfolio allocation strategies and asset classes during the four most recent rate hike cycles. Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Subscribe for free here. Follow The Idea Farm: Twitter | LinkedIn | Instagram | Tik Tok ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Met favor Show, where the focus is on helping you grow and preserve your wealth.
0:11.0	Join us as we discuss the craft of investing and
0:13.5	uncover new and profitable ideas all to help you grow wealthier and wiser.
0:17.2	Better investing starts here.
0:18.8	Meep Faber is the co-founder and chief investment officer at Cambria Investment Management.
0:23.4	Did the industry regulations, he will not discuss any of Cambry's funds on this podcast.
0:27.1	All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion
0:31.1	of Cambria Investment Management or its affiliates.
0:33.4	For more information, visit Cambria Investments.com.
0:39.7	Welcome, podcast listeners.
0:40.7	We've got a fun episode today.
0:42.3	Our guest is Steve Klinski
0:43.7	founder and CEO of New Mountain Capital a private equity firm with about 40 billion
0:49.1	dollars in assets under management Steve began his time in private equity before is even a thing.
0:54.4	He co-founded Goldman Sachs Leverage Buyout Group back in 1981.
0:59.4	Today's show, Steve shares how the private equity industry has evolved over his career to go from a focus on financial
1:04.7	engineering to a focus on building businesses. Then he talks about the opportunity today in private
1:09.9	credit. He even walks us through some real deals, including his sales signify health to
1:13.7	CBS earlier this year for a whopping $8 billion. If you're a new listener to the show
1:18.4	go subscribe to the show on your favorite platform and be sure to set it to
1:21.0	download each episode so you don't miss any of our fantastic
1:23.8	shows coming up this summer. This episode is brought to you by 10 East.
	...

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