Strategy & Expertise

Focused on Defensive Growth

NMFC’s mandate is to primarily target businesses in the middle market that, consistent with New Mountain’s private equity platform, are high quality, defensive growth companies in industries that are well-researched by New Mountain. We focus on companies and end markets with sustainable strengths in all economic cycles to achieve superior risk-adjusted returns despite economic volatility.

We invest primarily in senior secured debt of U.S. middle market businesses, which we define by annual EBITDA of between $10 million and $200 million, that are defined by the following defensive growth characteristics:

Defensive Growth Characteristics

Our deep sector focus and expertise has allowed us to build a defensive portfolio of loans to high quality businesses with strong equity cushions and sponsor support.

Portfolio Mix by Industry

Segment Industry Percentage
Business Services Utility & Data Center Services 5%
Real Estate Services 4%
Digital Transformation 3%
Compliance Services 3%
Insurance & Benefits Services 2%
Misc Services 2%
Data & Information Services 1%
Field Services 1%
Engineering & Consulting Services 1%
Software ERP 7%
Finance & Accounting 5%
Human Capital Management 4%
IT Infrastructure & Security 4%
Governance, Risk & Compliance 2%
Commerce & Supply Chain 1%
Healthcare Healthcare Services 11%
Healthcare IT & Tech-Enabled Services 6%
Pharma Services 2%
Healthcare Products <1%
Financial Services & Technology Financial Services 4%
Integrated Payments 2%
Financial Technology 1%
Other Power Alleys Consumer Services 8%
Distribution & Logistics 7%
Education 5%
Packaging 3%
Other 5%
  • Business Services
  • Software
  • Healthcare
  • Financial Services & Technology
  • Other NMC Power Alleys

As of December 31, 2025

Power of the Platform

Our differentiated research and underwriting model is based on the ability to leverage resources within the broader New Mountain platform. Our deep bench of industry executives provides differentiated research capabilities and insight for our credit team to underwrite opportunities in our key, defensive growth sectors. We believe this proprietary network provides a superior analytical engine compared to standalone credit platforms.

Deep Sector Expertise

~305

New Mountain Capital Employees and Senior Advisors1

~120

Industry Executives1

~90

Owned companies across the private equity platform2
Enterprise Software

Enterprise Software

Healthcare Services

Healthcare Services

Tech Enabled Business Services

Tech Enabled Business Services

Healthcare I.T.

Healthcare I.T.

Financial Services

Financial Services

Life Sciences

Life Sciences

  1. Includes Executive Advisors and CEOs for current portfolio companies as of February 1, 2026.
  2. Includes Includes current and formerly owned portfolio companies across the private equity platform as of December 31, 2025.