New Mountain Finance Corporation Announces First Quarter Financial Results
New Mountain Finance Corporation (Nasdaq: NMFC) is a leading business development company (BDC) focused on providing direct lending solutions to U.S. upper middle market companies backed by top private equity sponsors. Our portfolio consists primarily of senior secured loans, and select junior capital positions, to growing businesses in defensive industries that offer attractive risk-adjusted returns. Our differentiated investment approach leverages the deep sector knowledge and operating resources of New Mountain Capital, a global investment firm with approximately $37 billion of assets under management.
Quarter Ended Mar 31, 2023
Source: Q1 2023 Earning Press Release
For complete information regarding our financials, see our periodic filings
Net asset value (“NAV”) per share was $13.14
Net Investment Income of $0.38 per share
First quarter distribution of $.35 per share
Portfolio had a fair value of $3,286.9 million
NMFC focuses on acyclical, defensive growth-oriented industries where New Mountain has deep expertise.
Our dedicated credit team leverages the in-house resources of the broader New Mountain platform including a deep bench of over 100 industry executives.
Top 10 Industries (at FMV)
|Software - ERP||8%|
|Software - IT Infrastructure & Security||8%|
|Tech Enabled Healthcare||6%|
|Engineering & Consulting Services||5%|
|Software - Finance & Accounting||5%|
|Distribution & Logistics||4%|
|Real Estate Services||4%|
FMV as of March 31, 2023
For complete information regarding our financials, see our periodic filings.
NMFC's mandate is to achieve superior risk-adjusted returns despite economic volatility.
Since IPO, we have invested $9.9bn and generated $14m of realized gains (net of realized losses) while paying out ~$1.1bn in dividends.
BDC Index (58%) CS High Yield Index (75%)
Consistent history of attractive dividends fully covered by NII
NMFC's largest shareholder group are employees (13% + s/o)1
Dividend protection program remains in place through December 31, 2023.
Starting Q1 2023, NMFC commenced a formal supplemental dividend program
1Includes members of senior management and other New Mountain employees; excludes independent directors; ownership % based on total shares outstanding on 3/31/2023
New Mountain Finance Corporation
New York, NY 10019
T: (212) 220-3393
American Stock Transfer and Trust Company
6201 15th Ave
Brooklyn, NY 11219