Commodities
New Mountain Raises $2.4 Billion to Hold Azuria Water Longer
Water being treated for cleaning and watering use at the water treatment plant.
Photographer: Josep Lago/AFP/Getty ImagesNew Mountain Capital collected $2.4 billion to extend its hold on infrastructure firm Azuria Water Solutions, underscoring the booming market for secondhand private equity stakes.
The single-asset continuation vehicle was co-led by HarbourVest Partners and backed by pensions, sovereign wealth funds, family offices and other investors, according to a statement Thursday.