By Sabrina Valle
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 declared.
Holt is in the process of establishing a new company, Thoreau, focutilized on health‑care technology and which would employ artificial innotifyigence to lower medical costs, declared the sources, who declined to be identified as the matter is private.
For this effort, Holt is tarreceiveing New Mountain assets Datavant, Swoop, Machinify, Smarter Technologies, and Office Ally, the sources declared. Holt did not respond to a request for comment.
One source declared Holt has been raising capital in the Middle East for the initiative while a second source declared 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.
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