Executive Team

Teddy Kaplan joined New Mountain in 2016. With over 22 years of net lease experience, Mr. Kaplan is regarded as a veteran industry leader. Prior to joining New Mountain, he was Managing Director of Angelo, Gordon & Co., where he was instrumental in the formation and management of Angelo, Gordon’s net lease real estate funds from 2006 to 2015. Mr. Kaplan was Co-Manager of Angelo Gordon’s first two net lease funds, with combined committed equity capital of approximately $720 million. He served on the investment committees of all Angelo Gordon net lease funds, including the firm’s third net lease fund, which had committed equity capital of $1 billion. Prior to that, he was with W. P. Carey Inc. from 2003 to 2006, where he led the origination, underwriting, and financing of net lease real estate investments in a wide range of industries. Since 2003, Mr. Kaplan has originated, underwritten, and financed over $5 billion in net lease and other real estate transactions. Mr. Kaplan previously worked at Meyer, Duffy & Associates making private equity investments in growth and early-stage companies and at Brown Brothers Harriman in corporate banking. Mr. Kaplan received his B.S. from the McIntire School of Commerce at the University of Virginia in 1996 and his M.B.A. from Columbia Business School in 2003. He is involved with and a trustee of several educational institutions and organizations.

Tom Decarlo joined New Mountain in 2017 and has originated, underwritten, and financed over $2 billion in net lease and other real estate transactions while at New Mountain. He was previously a Vice President at Partners Group, focused on direct real estate acquisitions and development. Prior to Partners Group, he worked at Delta Associates and the JBG Companies. Mr. Decarlo received his B.A. in History and Foreign Affairs from the University of Virginia in 2006. He received his M.B.A. from the Darden School at the University of Virginia in 2012.

Kellie Steele joined New Mountain in 2015. Prior to joining New Mountain, she worked at Kayne Anderson Capital Advisors, where she was involved in the accounting and operations function for various investment strategies. She also worked at KPMG LLP where she gained experience in auditing and financial advisory services. Ms. Steele received her B.S., magna cum laude, in Accounting from Loyola Marymount University in 2011.

New Mountain’s Net Lease strategy relies on the resources, investing experience, knowledge, and relationships of the entire New Mountain platform to help source, underwrite and evaluate opportunities. We believe this integrated approach enables a deeper level of due diligence, promotes better investment selection, and provides greater access, information, and knowledge. Learn more about the New Mountain Net Lease Team