Holt leaves New Mountain, leads $30 billion takeover of its assets, sources say

By Sabrina Valle

NEW YORK, Dec 18 (Reuters) - Matt Holt, former managing director and president of private equity at New Mountain Capital, left the firm this week to spearhead an estimated $30 billion acquisition of five of its portfolio companies, sources familiar with the matter said.

Holt is in the process of establishing a new company, Thoreau, focused on health‑care technology and which would employ artificial intelligence to lower medical costs, said the sources, who declined to be identified as the matter is private.

For this effort, Holt is targeting New Mountain assets Datavant, Swoop, Machinify, Smarter Technologies, and Office Ally, the sources said. Holt did not respond to a request for comment.

One source said Holt has been raising capital in the Middle East for the initiative while a second source said the venture is backed by alternative asset manager ICG Plc.

New Mountain did not reply to a request for comment and London-based ICG could not be reached. Both were contacted outside of regular business hours.

Bloomberg first reported the news.


(Reporting by Sabrina Valle in New York; Editing by Jacqueline Wong)

((sabrina.valle@tr.com - 713-344-4181))

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