<SEC-DOCUMENT>0001157523-19-001097.txt : 20190506
<SEC-HEADER>0001157523-19-001097.hdr.sgml : 20190506
<ACCEPTANCE-DATETIME>20190506161109
ACCESSION NUMBER:		0001157523-19-001097
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190506
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190506
DATE AS OF CHANGE:		20190506

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Mountain Finance Corp
		CENTRAL INDEX KEY:			0001496099
		IRS NUMBER:				272978010
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00832
		FILM NUMBER:		19799405

	BUSINESS ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 720-0300

	MAIL ADDRESS:	
		STREET 1:		787 SEVENTH AVENUE, 48TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	New Mountain Guardian Corp
		DATE OF NAME CHANGE:	20100706
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51980168.htm
<DESCRIPTION>NEW MOUNTAIN FINANCE CORPORATION 8-K
<TEXT>
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    <title></title>
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    <p style="text-align: center">
      <font style="font-size: 16pt"><b>UNITED STATES</b></font><font style="font-size: 16pt"><br style="font-size: 16pt"></font><font style="font-size: 16pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><font style="font-size: 16pt"><br style="font-size: 16pt"></font><font style="font-size: 12pt"><b>Washington,
      D.C. 20549</b></font><b> </b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 18pt"><b>FORM 8-K </b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>CURRENT REPORT </b></font><br><font style="font-size: 12pt"><b>Pursuant
      to section 13 or 15(d) of the</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><b>Securities
      Exchange Act of 1934 </b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">Date of
      Report (Date of Earliest Event Reported): </font><font style="font-family: Times New Roman; font-size: 10pt"><b>May
      6, 2019</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-size: 24pt"><b>New Mountain Finance Corporation</b></font><br><font style="font-size: 10pt">(Exact
      name of registrant as specified in its charter)</font><font style="font-size: 10pt"><b>
      </b></font>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 31%" valign="top">
          <b>Delaware</b>
        </td>
        <td style="width: 3%">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 32%; padding-right: 0.0px; white-space: nowrap" valign="top">
          <b>814-00832</b>
        </td>
        <td style="width: 3%">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 31%; padding-right: 0.0px; white-space: nowrap" valign="top">
          <b>27-2978010</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 31%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction of
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            incorporation or organization)
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 32%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            File Number)
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 31%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (IRS Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification Number)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-size: 10pt"><b>787 7</b></font><b><font style="font-size: 7pt">th</font><font style="font-size: 10pt">
      Avenue, 48</font><font style="font-size: 7pt">th</font><font style="font-size: 10pt">
      Floor, New York, NY 10019</font></b><br>(Address of principal executive
      offices)<b> </b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt">Registrant&#8217;s telephone number, including
      area code </font><font style="font-size: 10pt"><b>(212) 720-0300</b></font>
    </p>
    <hr style="height: 1.0 pt; text-align: left; color: #000000; width: 100%">


    <p>
      <font style="font-size: 10pt">Check the appropriate box below if the
      Form 8-K filing is intended to simultaneously satisfy the filing
      obligation of the registrant under any of the following provisions:</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <hr style="height: 1.0 pt; text-align: left; color: #000000; width: 100%">


    <p>
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
      &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR
      &#167;240.12b-2).<br>Emerging growth company&#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act.&#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <p>
      Securities registered pursuant to Section 12(b) of the Act:
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: center; width: 40%; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Title of each class</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: left; width: 20%; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Trading</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Symbol(s)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: left; width: 40%; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Name of each exchange on which registered</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 40%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Common stock, par value $0.01 per share
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 20%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            NMFC
          </p>
        </td>
        <td style="padding-left: 40.0px; text-align: left; width: 40%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            New York Stock Exchange
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 40%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            5.75% Notes due 2023
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 20%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            NMFX
          </p>
        </td>
        <td style="padding-left: 40.0px; text-align: left; width: 40%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            New York Stock Exchange
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 10%" valign="top">
          <b>Item 2.02.</b>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 90%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Results of Operations and Financial Condition.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: justify; text-indent: 30.0px">
      On May 6, 2019, New Mountain Finance Corporation (&#8220;NMFC&#8221;) issued a press
      release announcing financial results for its quarter ended March 31,
      2019. The press release is included as Exhibit 99.1 and incorporated
      herein by reference. Additionally, on May 6, 2019, NMFC made available
      on its website, <i>www.newmountainfinance.com,</i> a supplemental
      investor presentation with respect to the earnings release.
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      The information disclosed under this Item 2.02, including Exhibit&#160;99.1
      hereto, is being furnished and shall not be deemed &#8220;filed&#8221; for purposes
      of Section&#160;18 of the Securities Exchange Act of 1934, as amended, or
      otherwise subject to the liabilities of that Section. The information
      provided herein shall not be deemed incorporated by reference into any
      filing made under the Securities Act of 1933, as amended, except as
      expressly set forth by specific reference in such filing.
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 10%" valign="top">
          <b>Item 9.01.</b>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 90%" valign="top">
          <b>Financial Statements and Exhibits.</b>
        </td>
      </tr>
    </table>
    </div>
    <p>
      d) Exhibits.
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: left; width: 7%; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          Exhibit

          <p style="margin-top: 0px; margin-bottom: 0px">
            Number
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 3%; padding-bottom: 2.0px" valign="bottom">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: left; width: 90%; border-bottom-style: solid; border-bottom-color: black" valign="bottom">
          Description
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 7%; padding-right: 0.0px; white-space: nowrap" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51980168ex99_1.htm">99.1</a>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 3%" valign="bottom">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 90%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51980168ex99_1.htm">Press Release, dated May 6, 2019</a>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt"><b>SIGNATURE</b></font><b> </b>
    </p>
    <p style="text-align: left; text-indent: 30.0px">
      <font style="font-size: 10pt">Pursuant to the requirements of the
      Securities Exchange Act of 1934, as amended, the Registrants have duly
      caused this Current Report on Form 8-K to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <p style="text-indent: 60.0px">

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
        <td style="width: 57%">

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: left" valign="top">
          NEW MOUNTAIN FINANCE CORPORATION
        </td>
      </tr>
      <tr>
        <td style="width: 57%">

        </td>
        <td colspan="2">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 57%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td colspan="2">

        </td>
        <td style="width: 5%">

        </td>
      </tr>
      <tr>
        <td style="width: 57%">

        </td>
        <td colspan="2">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 57%; padding-bottom: 2.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date: May 6, 2019
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 3%; padding-bottom: 2.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            By:
          </p>
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: left; width: 35%; border-bottom-style: solid; border-bottom-color: black" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Karrie J. Jerry
          </p>
        </td>
        <td style="width: 5%">

        </td>
      </tr>
      <tr>
        <td style="width: 57%">

        </td>
        <td style="width: 3%">

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Name: Karrie J. Jerry
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 57%">

        </td>
        <td style="width: 3%">

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Title: Corporate Secretary
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51980168ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
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  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>New
      Mountain Finance Corporation Announces Financial Results for the Quarter
      Ended March 31, 2019</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Reports
      Net Investment Income of $0.35 per Weighted Average Share and Net Asset
      Value of $13.45 per Share</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Declares
      Second Quarter 2019 Distribution of $0.34 per Share</b></font>
    </p>
    <p>
      NEW YORK--(BUSINESS WIRE)--May 6, 2019--New Mountain Finance Corporation
      (NYSE:NMFC) (the &quot;Company&quot;, &quot;we&quot;, &quot;us&quot; or &quot;our&quot;) today announced its
      financial results for the quarter ended March 31, 2019 and reported
      first quarter net investment income of $0.35 per weighted average share.
      At March 31, 2019, net asset value (&#8220;NAV&#8221;) per share was $13.45, an
      increase of $0.23 per share from December 31, 2018. The Company also
      announced that its board of directors declared a second quarter
      distribution of $0.34 per share, which will be payable on June 28, 2019
      to holders of record as of June 14, 2019.
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px">
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i><b>Selected Financial Highlights</b></i>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          <i>(in thousands, except per share data)</i>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="4" style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="top">
          <b>March 31, 2019</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Investment Portfolio<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,545,813
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Total Assets
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,650,116
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Total Statutory Debt<sup>(2)</sup>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,359,086
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          NAV
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,083,279
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          NAV per Share
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          13.45
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Statutory Debt/Equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right" valign="top">
          1.25x
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          <b>Investment Portfolio Composition</b>
        </td>
        <td>

        </td>
        <td colspan="4" style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="top">
          <b>March 31, 2019</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="top">
          <b>Percent of Total</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          First Lien
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            1,276,616
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          50.2
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Second Lien<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          748,670
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          29.4
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Subordinated
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          66,858
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2.6
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Preferred Equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          119,926
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4.7
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Investment Fund
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          182,400
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7.2
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Common Equity and Other<sup>(3)</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          151,343
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          5.9
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Total
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,545,813
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          100.0
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px">
      <tr>
        <td colspan="3" style="padding-left: 0.0px; text-align: left" valign="top">
          _____________________________
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="top">
          <sup>(1)</sup>
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Includes collateral for securities purchased under collateralized
          agreements to resell.
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="top">
          <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Excludes the Company&#8217;s United States (&#8220;U.S.&#8221;) Small Business
          Administration (&#8220;SBA&#8221;)-guaranteed debentures. Includes premium
          received on additional convertible notes issued in September 2016.
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="top">
          <sup>(3)</sup>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Includes investments held in New Mountain Net Lease Corporation.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      We believe that the strength of the Company&#8217;s unique investment strategy
      &#8211; which focuses on middle market defensive growth companies that are
      well researched by New Mountain Capital, L.L.C. (&#8220;New Mountain&#8221;), a
      leading alternative investment firm, is underscored by continued stable
      credit performance. The Company has had only eight portfolio companies,
      representing approximately $125 million of the cost of all investments
      made since inception in October 2008, or approximately 1.9% of $6.7
      billion, go on non-accrual.
    </p>
    <p>
      Robert A. Hamwee, CEO, commented: &quot;The first quarter represented another
      solid quarter of performance for NMFC. We originated $158 million of
      investments and once again had no new investments placed on non-accrual.
      Additionally, we are pleased to have maintained a steady portfolio yield
      while increasing book value.&quot;
    </p>
    <p>
      &#8220;As managers and as significant stockholders personally, we are pleased
      with the completion of another successful quarter,&#8221; added Steven B.
      Klinsky, NMFC Chairman. &#8220;We believe New Mountain&#8217;s focus on acyclical
      &#8220;defensive growth&#8221; industries and on companies that we know well
      continues to be a successful strategy to preserve asset value.&#8221;
    </p>
    <div style="margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Portfolio and Investment Activity</b><sup>1</sup>
    </p>
    <p>
      As of March 31, 2019, the Company&#8217;s NAV was approximately $1,083.3
      million and its portfolio had a fair value of approximately $2,545.8
      million in 98 portfolio companies, with a weighted average YTM at Cost<sup>2</sup>
      of approximately 10.0%. For the three months ended March 31, 2019, the
      Company made approximately $158.0 million of originations and commitments<sup>3</sup>.
      The $158.0 million includes approximately $102.2 million of investments
      in six new portfolio companies and approximately $55.8 million of
      follow-on investments in eleven portfolio companies held as of December
      31, 2018. For the three months ended March 31, 2019, the Company had
      cash repayments<sup>3</sup> of approximately $5.9 million.
    </p>
    <p>
      <b>Consolidated Results of Operations</b>
    </p>
    <p>
      The Company&#8217;s total investment income for the three months ended March
      31, 2019 and 2018 was approximately $64.2 million and $52.9 million,
      respectively.
    </p>
    <p>
      The Company&#8217;s total net expenses, after income tax expense, for the
      three months ended March 31, 2019 and 2018 were approximately $36.7
      million and $27.2 million, respectively. Total net expenses, after
      income tax expense, for the three months ended March 31, 2019 and 2018
      consisted of approximately $19.1 million and $11.3 million,
      respectively, of costs associated with the Company&#8217;s borrowings and
      approximately $15.3 million and $13.8 million, respectively, in net
      management and incentive fees. Since the Company&#8217;s initial public
      offering (&#8220;IPO&#8221;), the base management fee calculation has deducted the
      borrowings under the New Mountain Finance SPV Funding, L.L.C. credit
      facility (the &#8220;SLF Credit Facility&#8221;). The SLF Credit Facility had
      historically consisted of primarily lower yielding assets at higher
      advance rates. As part of an amendment to the Company&#8217;s existing credit
      facilities with Wells Fargo Bank, National Association, the SLF Credit
      Facility merged with and into the New Mountain Finance Holdings, L.L.C.
      credit facility (the &#8220;Holdings Credit Facility&#8221;) on December 18, 2014.
      Post credit facility merger and to be consistent with the methodology
      since the IPO, New Mountain Finance Advisers BDC, L.L.C. (the
      &#8220;Investment Adviser&#8221;) will continue to waive management fees on the
      leverage associated with those assets held under revolving credit
      facilities that share the same underlying yield characteristics with
      investments that were leveraged under the legacy SLF Credit Facility,
      which as of March 31, 2019 and 2018 totaled approximately $632.2 million
      and $323.3 million, respectively. For the three months ended March 31,
      2019 and 2018 management fees waived were approximately $2.5 million and
      $1.3 million, respectively. The Investment Adviser cannot recoup
      management fees that the Investment Adviser has previously waived. The
      Company&#8217;s net direct and indirect professional, administrative, other
      general and administrative and income tax expenses for the three months
      ended March 31, 2019 and 2018 were approximately $2.3 million and $2.1
      million, respectively.
    </p>
    <p>
      For the three months ended March 31, 2019 and 2018, the Company recorded
      approximately $16.4 million and ($1.9) million of net realized and
      unrealized gains (losses), respectively.
    </p>
    <p>
      <b>Liquidity and Capital Resources</b>
    </p>
    <p>
      As of March 31, 2019, the Company had cash and cash equivalents of
      approximately $65.6 million and total statutory debt outstanding of
      approximately $1,359.1 million<sup>4</sup>, which consisted of
      approximately $567.0 million of the $675.0 million of total availability
      on the Holdings Credit Facility, $135.0 million of the $135.0 million of
      total availability on the Company&#8217;s senior secured revolving credit
      facility (the &#8220;NMFC Credit Facility&#8221;), $50.0 million of the $100.0
      million of total availability on the Company&#8217;s secured revolving credit
      facility (the &#8220;DB Credit Facility&#8221;), $270.3 million<sup>5</sup>
      of convertible notes outstanding and $336.8 million of unsecured notes
      outstanding. Additionally, the Company had $165.0 million of
      SBA-guaranteed debentures outstanding as of March 31, 2019.
    </p>
    <p>
      <b>Portfolio and Asset Quality</b>
    </p>
    <p>
      The Company puts its largest emphasis on risk control and credit
      performance. On a quarterly basis, or more frequently if deemed
      necessary, the Company formally rates each portfolio investment on a
      scale of one to four. Each investment is assigned an initial rating of a
      &#8220;2&#8221; under the assumption that the investment is performing materially
      in-line with expectations. Any investment performing materially below
      our expectations, where the risk of loss has materially increased since
      the original investment, would be downgraded from the &#8220;2&#8221; rating to a
      &#8220;3&#8221; or a &#8220;4&#8221; rating, based on the deterioration of the investment. An
      investment rating of a &#8220;4&#8221; could be moved to non-accrual status and the
      final development could be an actual realization of a loss through a
      restructuring or impaired sale.
    </p>
    <p>
      As of March 31, 2019, all investments in our portfolio had an investment
      rating of &#8220;1&#8221; or &#8220;2&#8221; with the exception of one portfolio company that
      had an investment rating of &#8220;4&#8221;. The Company&#8217;s investment in this
      portfolio company had an aggregate cost basis of approximately $1.5
      million and an aggregate fair value of less than $0.1 million.
    </p>
    <div style="margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Recent Developments</b>
    </p>
    <p>
      The Company had approximately $45.2 million of originations and
      commitments<sup>3</sup> since the end of the first quarter through May
      1, 2019. This was offset by approximately $19.5 million of repayments<sup>3</sup>
      during the same period.
    </p>
    <p>
      On April 1, 2019, after receiving the required stockholder approval, the
      Company amended its Amended and Restated Certificate of Incorporation to
      increase the number of authorized shares of the Company&#8217;s common stock
      from 100,000,000 shares to 200,000,000 shares.
    </p>
    <p>
      On April 30, 2019, the Company entered into a fourth supplement (the
      &quot;Supplement&quot;) to the Company&#8217;s Amended and Restated Note Purchase
      Agreement, dated September 30, 2016 (the &quot;NPA&quot;). Pursuant to the
      Supplement, on April 30, 2019, the Company issued to certain
      institutional investors identified therein, in a private placement,
      $116.5 million in aggregate principal amount of 5.494% Series 2019A
      Notes due April 30, 2024 (the &#8220;2019A Unsecured Notes&#8221;) as an additional
      series of notes under the NPA. Except as set forth in the Supplement,
      the 2019A Unsecured Notes have the same terms as the $90.0 million in
      aggregate principal amount of the 5.313% Notes due May 15, 2021, the
      $55.0 million in aggregate principal amount of the 4.76% Series 2017A
      Notes due July 15, 2022, the $90.0 million in aggregate 4.870% Series
      2018A Notes due January 30, 2023 and the $50.0 million in aggregate
      principal amount of the 5.360% Series 2018B Notes due June 28, 2023
      (collectively, the &#8220;Prior Notes&#8221;) that the Company previously issued
      pursuant to the NPA and the first, second and third supplement thereto,
      respectively. The 2019A Unsecured Notes will rank equal in priority with
      the Company&#8217;s other unsecured indebtedness, including the Prior Notes.
      Interest on the 2019A Unsecured Notes will be payable semi-annually in
      arrears on April 15 and October 15 of each year, commencing on October
      15, 2019.
    </p>
    <p>
      On May 1, 2019, the Company&#8217;s board of directors declared a second
      quarter 2019 distribution of $0.34 per share payable on June 28, 2019 to
      holders of record as of June 14, 2019.
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px">
      <tr>
        <td colspan="3" style="padding-left: 0.0px; text-align: left" valign="top">
          _________________________________
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="top">
          <sup>1</sup>
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Includes collateral for securities purchased under collateralized
          agreements to resell.
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="top">
          <sup>2</sup>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            References to &#8220;YTM at Cost&#8221; assume the accruing investments,
            including secured collateralized agreements, in our portfolio as
            of a certain date, the &quot;Portfolio Date,&quot; are purchased at cost on
            that date and held until their respective maturities with no
            prepayments or losses and are exited at par at maturity. This
            calculation excludes the impact of existing leverage. YTM at Cost
            uses the LIBOR curves at each quarter&#8217;s respective end date. The
            actual yield to maturity may be higher or lower due to the future
            selection of LIBOR contracts by the individual companies in the
            Company&#8217;s portfolio or other factors.
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="top">
          <sup>3</sup>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Excludes revolving credit facilities, netbacks, payment-in-kind
          (&#8220;PIK&#8221;) interest, bridge loans, return of capital and realized gains
          / losses.
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="top">
          <sup>4</sup>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Excludes the Company&#8217;s United States (&#8220;U.S.&#8221;) Small Business
          Administration (&#8220;SBA&#8221;)-guaranteed debentures.
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="top">
          <sup>5</sup>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Includes premium received on additional convertible notes issued in
          September 2016.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <b>Conference Call</b>
    </p>
    <p>
      New Mountain Finance Corporation will host a conference call at 10 a.m.
      Eastern Time on Tuesday, May 7, 2019, to discuss its first quarter 2019
      financial results. All interested parties may participate in the
      conference call by dialing +1 (877) 443-9109 approximately 15 minutes
      prior to the call. International callers should dial +1 (412) 317-1082.
      This conference call will also be broadcast live over the Internet and
      can be accessed by all interested parties through the Company's website, <u>http://ir.newmountainfinance.com</u>.
      To listen to the live call, please go to the Company's website at least
      15 minutes prior to the start of the call to register and download any
      necessary audio software. Following the call, you may access a replay of
      the event via audio webcast on our website. We will be utilizing a
      presentation during the conference call and we have posted the
      presentation to the investor relations section of our website.
    </p>
    <div style="margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px">
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>New Mountain Finance Corporation</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Consolidated Statements of Assets and Liabilities</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <i>(in thousands, except shares and per share data)</i>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <i>(unaudited)</i>
        </td>
      </tr>
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="top">
          <b>March 31, 2019</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="top">
          <b>December 31, 2018</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Assets</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Investments at fair value
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Non-controlled/non-affiliated investments (cost of $2,020,776 and
          $1,868,785, respectively)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,023,077
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,861,323
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Non-controlled/affiliated investments (cost of $79,423 and $78,438,
          respectively)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          77,587
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          77,493
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Controlled investments (cost of $393,565 and $382,503, respectively)
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          421,641
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          403,137
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Total investments at fair value (cost of $2,493,764 and $2,329,726,
          respectively)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,522,305
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,341,953
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Securities purchased under collateralized agreements to resell
            (cost of $30,000 and $30,000, respectively)
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          23,508
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          23,508
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          65,571
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          49,664
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Interest and dividend receivable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          34,370
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          30,081
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Receivable from affiliates
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          575
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          288
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Other assets
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          3,787
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          3,172
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          <b>Total assets</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>2,650,116</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>2,448,666</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Liabilities</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Borrowings
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Holdings Credit Facility
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          567,063
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          512,563
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Unsecured Notes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          336,750
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          336,750
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Convertible Notes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          270,273
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          270,301
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          SBA-guaranteed debentures
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          165,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          165,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          NMFC Credit Facility
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          135,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          60,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          DB Credit Facility
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          50,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          57,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Deferred financing costs (net of accumulated amortization of
            $23,885 and $22,234, respectively)
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          (16,186
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          (17,515
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net borrowings
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,507,900
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,384,099
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Payable for unsettled securities purchased
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          20,442
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          20,147
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Interest payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          10,513
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          12,397
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Management fee payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8,442
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8,392
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Incentive fee payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,864
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Deferred tax liability
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          896
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,006
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Payable to affiliates
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          798
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,021
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Other liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          10,983
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          8,471
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Total liabilities</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>1,566,837</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>1,442,397</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Commitments and contingencies</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Net Assets</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Preferred stock, par value $0.01 per share, 2,000,000 shares
          authorized, none issued
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8211;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8211;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Common stock, par value $0.01 per share, 100,000,000 shares
            authorized, 80,519,430 and 76,106,372 shares issued and
            outstanding, respectively
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          805
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          761
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Paid in capital in excess of par
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,096,017
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,035,629
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Accumulated overdistributed earnings
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          (13,543
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          (30,121
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          <b>Total net assets</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>1,083,279</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>1,006,269</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          <b>Total liabilities and net assets</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>2,650,116</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>2,448,666</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Number of shares outstanding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          80,519,430
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          76,106,372
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Net asset value per share</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>13.45</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>13.22</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 8pt; margin-bottom: 10.0px">
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>New Mountain Finance Corporation</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Consolidated Statements of Operations</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <i>(in thousands, except shares and per share data)</i>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <i>(unaudited)</i>
        </td>
      </tr>
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="7" style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="top">
          <b>Three Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="top">
          <b>March 31, 2019</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="top">
          <b>March 31, 2018</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Investment income</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          From non-controlled/non-affiliated investments:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Interest income
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          44,457
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            $
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          35,436
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Dividend income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8211;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          486
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Non-cash dividend income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,974
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,324
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Other income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,254
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,868
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          From non-controlled/affiliated investments:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Interest income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,004
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          102
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Dividend income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          726
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          845
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Non-cash dividend income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          291
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,009
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Other income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          291
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          302
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          From controlled investments:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Interest income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,463
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,201
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Dividend income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8,457
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,239
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Non-cash dividend income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,045
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,454
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Other income
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          229
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          623
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Total investment income
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          64,191
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          52,889
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Expenses</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Incentive fee
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,434
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Management fee
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          10,975
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8,692
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Interest and other financing expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          19,146
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          11,290
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Administrative expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,095
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          939
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Professional fees
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          766
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          694
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Other general and administrative expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          412
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          410
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Total expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          39,257
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          28,459
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Less: management fees waived
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          (2,533
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          (1,322
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Net expenses
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          36,724
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          27,137
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net investment income before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          27,467
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          25,752
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Income tax expense
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          17
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          16
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Net investment income</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>27,450</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>25,736</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net realized gains:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Non-controlled/non-affiliated investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          43
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          206
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Controlled investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8211;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net change in unrealized appreciation (depreciation):
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Non-controlled/non-affiliated investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          9,763
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (3,521
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Non-controlled/affiliated investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (891
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,809
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Controlled investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7,442
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (456
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Securities purchased under collateralized agreements to resell
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          &#8211;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (12
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Benefit for taxes
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          110
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          82
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          <b>Net realized and unrealized gains (losses)</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>16,470</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>(1,892</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px; border-bottom-style: solid; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          <b>Net increase in net assets resulting from operations</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>43,920</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; border-bottom-style: double; white-space: nowrap; border-bottom-color: black" valign="bottom">
          <b>23,844</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Basic earnings per share
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.56
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.31
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Weighted average shares of common stock outstanding-basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          78,457,641
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          75,935,093
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Diluted earnings per share
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.49
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.30
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Weighted average shares of common stock outstanding-diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          95,857,530
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          85,759,220
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Distributions declared and paid per share
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.34
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.34
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      ABOUT NEW MOUNTAIN FINANCE CORPORATION
    </p>
    <p>
      New Mountain Finance Corporation is a closed-end, non-diversified and
      externally managed investment company that has elected to be regulated
      as a business development company under the Investment Company Act of
      1940, as amended. The Company&#8217;s investment objective is to generate
      current income and capital appreciation through the sourcing and
      origination of debt securities at all levels of the capital structure,
      including first and second lien debt, notes, bonds and mezzanine
      securities. The Company&#8217;s first lien debt may include traditional first
      lien senior secured loans or unitranche loans. Unitranche loans combine
      characteristics of traditional first lien senior secured loans as well
      as second lien and subordinated loans. Unitranche loans will expose the
      Company to the risks associated with second lien and subordinated loans
      to the extent it invests in the &#8220;last out&#8221; tranche. In some cases, the
      investments may also include small equity interests. The Company&#8217;s
      investment activities are managed by its Investment Adviser, New
      Mountain Finance Advisers BDC, L.L.C., which is an investment adviser
      registered under the Investment Advisers Act of 1940, as amended. More
      information about New Mountain Finance Corporation can be found on the
      Company&#8217;s website at <u>http://www.newmountainfinance.com</u>.
    </p>
    <p>
      ABOUT NEW MOUNTAIN CAPITAL
    </p>
    <p>
      New Mountain Capital is a New York based investment firm focused on
      long-term business-building and growth investments. The firm currently
      manages private equity, public equity, and credit funds with over $20
      billion in assets under management. New Mountain seeks out what it
      believes to be the highest quality growth leaders in carefully selected
      industry sectors and then works intensively with management to build the
      value of these companies. For more information on New Mountain Capital,
      please visit <u>http://www.newmountaincapital.com</u>.
    </p>
    <p>
      FORWARD-LOOKING STATEMENTS
    </p>
    <p>
      Statements included herein may contain &#8220;forward-looking statements&#8221;,
      which relate to our future operations, future performance or our
      financial condition. Forward-looking statements are not guarantees of
      future performance, condition or results and involve a number of risks
      and uncertainties. Actual results and outcomes may differ materially
      from those anticipated in the forward-looking statements as a result of
      a variety of factors, including those described from time to time in our
      filings with the Securities and Exchange Commission or factors that are
      beyond our control. New Mountain Finance Corporation undertakes no
      obligation to publicly update or revise any forward-looking statements
      made herein, except as may be required by law. All forward-looking
      statements speak only as of the time of this press release.
    </p>
    <p>
      CONTACT:<br>New Mountain Finance Corporation<br>Investor Relations<br>Shiraz
      Y. Kajee, Authorized Representative<br><u>NMFCIR@newmountaincapital.com</u><br>(212)
      220-3505
    </p>
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</SEC-DOCUMENT>
