Early Life and Education
Steven Klinsky was born on May 30, 1956, in Detroit, Michigan. He attended the University of Michigan, where he graduated in just two and a quarter years with a B.A. in Economics and Political Philosophy with high honors. Klinsky furthered his education at Harvard, earning both an M.B.A. from Harvard Business School and a J.D. with honors from Harvard Law School in 1981.
Rise to Success
Klinsky's career began in 1981 at Goldman Sachs, where he co-founded the leveraged buyout group. He executed over $3 billion in transactions during his time there. In 1984, he joined Forstmann Little & Co. as an Associate Partner, becoming a General Partner in 1986, where he oversaw private equity and debt partnerships totaling over $10 billion. In 1999, Klinsky founded New Mountain Capital, which focuses on non-cyclical growth and business building. The firm has generated over $87 billion of private equity enterprise value gains for all shareholders since its inception, with no bankruptcies or missed interest payments.
Key Business Strategies
New Mountain Capital emphasizes two core principles: defensive growth and business building. Klinsky focuses on investing in companies in predictable industries and using modest amounts of debt. The firm is known for thoroughly researching targeted business sectors, which Klinsky calls "deep dives".
Philanthropy
Klinsky is also involved in philanthropy. In 1993, he established the Gary Klinsky Children's Centers after-school program in New York City. In 2013, he and his wife endowed the Steven and Maureen Klinsky Professorship of Practice for Leadership and Progress at Harvard Law School. He also founded the Modern States Education Alliance, a philanthropic group focused on making college affordable.
