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Alternative Assets  | 
New Mountain Net Lease Closes Oversubscribed $493M Debut ABS Deal 

New Mountain Net Lease Closes Oversubscribed $493M Debut ABS Deal 

New Mountain Net Lease, a platform of alternative investment manager New Mountain Capital, has closed its inaugural asset-backed securities issuance, NMNL 2025-1, totaling $493.4 million. The debut transaction attracted significantly oversubscribed demand from institutional investors, including many who have previously participated in New Mountain’s other securitized offerings. Goldman Sachs and Evercore served as underwriters. 

“The high demand and attractive pricing levels, especially for a debut issuance, demonstrate the strength and scalability of our platform,” said Teddy Kaplan, Managing Director and Head of New Mountain Net Lease. “This establishes a foundation for continued, efficient access to the ABS market, which will benefit all our investors through the potential for enhanced spreads and returns.” 

The securitization included AAA through A-rated bonds and was structured at a 70% loan-to-value ratio, with an anticipated repayment date of five years. 

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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