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Asset Living Set for New Ownership as New Mountain Capital Seals USD 2 Billion-Plus Buyout

  • by- Zaid
  • Jun 3, 2026
Private equity firm New Mountain Capital has agreed to acquire Asset Living, a US-based residential property management company, in a transaction valued at more than USD 2 billion.
Asset Living Set for New Ownership as New Mountain Capital Seals USD 2 Billion-Plus Buyout

June 3: The transaction follows a sale process initiated by Asset Living's owner, Roark Capital, which had engaged investment bank William Blair to explore strategic options for the business.

Deal Structure

Sources indicated that New Mountain Capital will acquire the company in partnership with Asset Living CEO Ryan McGrath, who is expected to continue playing an active role after the transaction is completed. The acquisition includes Asset Living's owned real estate portfolio as well as its proprietary technology suite.

Company Background

Founded in 1986 and headquartered in Houston, Texas, Asset Living provides property management services for multifamily, student housing and affordable housing communities. The company operates on behalf of institutional investors and local real estate owners and manages properties across more than 40 states in the US.

Industry Trend

The transaction highlights a broader trend within the private equity industry, where investors have increasingly targeted residential property management businesses. Such companies generate recurring management fees while offering exposure to strong rental housing demand without requiring significant direct ownership of residential assets. New Mountain Capital has approximately USD 60 billion in assets under management.