Blackstone acquires significant stake from New Mountain in CPA Firm Citrin Cooperman

• Private equity’s growing interest in CPA firms isn’t new – it started back in 2021. (Fun fact: Who was the first to make the move? EisnerAmper)
• In late 2021, Citrin Cooperman sold a majority stake to New Mountain Capital.
• Now, in 2025, New Mountain has sold its majority stake to Blackstone at 15 times its EBITDA.

Private Equity invests in Citrin Cooperman

Let’s rewind to 2021.

New Mountain Capital first took a majority stake in Citrin Cooperman in October 2021, valuing the firm at approximately $500 million.