New Mountain Secures $2.4bn to Extend Azuria Water Stake

2 articles · Updated · Bloomberg · Apr 23

New Mountain Capital has raised $2.4 billion to extend its investment in Azuria Water Solutions.
The continuation vehicle was co-led by HarbourVest Partners and supported by pensions, sovereign wealth funds, and family offices.
This move highlights the growing market for secondhand private equity stakes and longer-term infrastructure investments.

Can a $2.4B single-asset deal help solve America's vast water infrastructure crisis?

Are these 'continuation funds' the new alternative to traditional company IPOs and sales?

What makes a company a 'trophy asset' that's worth a $2.4 billion bet?

When a PE firm sells an asset to itself, how are investors truly protected?

Is the booming $240B secondary market a clever innovation or a new kind of risk?

How is this trend changing the fundamental 'buy-fix-sell' model of private equity?