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The $60 Billion Firm That Treats Private Equity Like Company Building
New Mountain Capital built a multi-strategy investment platform around a deceptively simple filter: choose businesses people still need when the economy gets strange, then help those businesses grow.
Tom Morgan
Thomas W. Morgan is a 30-year private equity veteran who pioneered the GP stakes investing category when he founded Hycroft Capital in 2015, the first firm dedicated solely to minority, non-control investments in private equity management companies. His career arc spans First Boston, Bain Capital during its formative 1990s growth, and 15 years at New Mountain Capital (raising $15B+ AUM). After merging Hycroft into Magnetar Capital and co-founding Aviditi Advisors (acquired by Piper Sandler in 2024), he now manages Greylock Capital Partners, his family office with interests in franchise concepts, commercial real estate, and private investments, from Manhattan's Upper East Side.