The Business Builder: New Mountain Capital's Steve Klinsky

Exchanges

Goldman Sachs

Business

4.3 • 1.1K Ratings

🗓️ 31 March 2026

⏱️ 35 minutes

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Summary

Steve Klinsky, founder and CEO of New Mountain Capital, joins Goldman Sachs’ Alison Mass to discuss the macro landscape, his approach to building businesses, the evolution of the private equity industry. This episode was recorded on February 18, 2026. The opinions and views expressed herein are as of the date of publication, subject to change without notice, and may not necessarily reflect the institutional views of Goldman Sachs or its affiliates. The material provided is intended for informational purposes only, and does not constitute investment advice, a recommendation from any Goldman Sachs entity to take any particular action, or an offer or solicitation to purchase or sell any securities or financial products. This material may contain forward-looking statements. Past performance is not indicative of future results. Neither Goldman Sachs nor any of its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of the statements or information contained herein and disclaim any liability whatsoever for reliance on such information for any purpose. Each name of a third-party organization mentioned is the property of the company to which it relates, is used here strictly for informational and identification purposes only and is not used to imply any ownership or license rights between any such company and Goldman Sachs. A transcript is provided for convenience and may differ from the original video or audio content. Goldman Sachs is not responsible for any errors in the transcript. This material should not be copied, distributed, published, or reproduced in whole or in part or disclosed by any recipient to any other person without the express written consent of Goldman Sachs. Disclosures applicable to research with respect to issuers, if any, mentioned herein are available through your Goldman Sachs representative or at http://www.gs.com/research/hedge.html Goldman Sachs does not endorse any candidate or any political party. Please visit newmountaincapital.com for more information about New Mountain Capital and a list of its portfolio company investments. Copyright 2026. All rights reserved. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to another episode of Goldman Sachs Exchanges great investors. I'm Allison Mass,
0:10.4	chairman of investment banking in Goldman Sachs' Global Banking and Markets Group, and your host for this episode.
0:16.7	Today, I have the pleasure of sitting with Steve Klinsky, the founder and CEO of New Mountain Capital.
0:22.6	The firm, which manages approximately $60 billion in assets, is widely recognized for its disciplined investment approach,
0:30.6	emphasizing defensive growth, and a commitment to building high-quality businesses.
0:35.6	I'm excited to talk to Steve about his career path,
0:38.3	his approach to improving businesses,
0:40.3	and his view on the current financial landscape.
0:47.3	So Steve, welcome to great investors.
0:49.3	Thank you, Allison. Thanks for having me.
0:51.3	So Steve, I like to start these sessions
0:53.3	with talking about what got people interested
0:56.0	in business and finance to begin with.
0:58.0	And I know that for you, that goes way back to your family's clothing business in Detroit.
1:03.0	So can you talk a little bit about how that influenced your career path?
1:07.0	Yeah, my grandfather and grandmother had a store in Detroit for 30 years selling women's coats and women's clothes.
1:13.7	His name was Albert, and they called it Alberts.
1:16.6	And then when I was a kid, shopping centers were starting to roll out.
1:20.0	That was the new idea at the time was major shopping malls.
1:23.1	And my dad and uncle built into a chain of stores as the shopping malls rolled out.
1:27.9	So that's where I first saw a business.
1:30.3	When I was in graduate school, my true goal was to be a constitutional lawyer.
	...

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