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Consolidated Statements of Assets and Liabilities (Parenthetical) - USD ($)
$ in Thousands

Sep. 30, 2022

Dec. 31, 2021

Investments, cost

$ 3,258,903

^[1]

$ 3,126,492

^[2]

Securities purchased under collateralized agreements to resell, cost

30,000

30,000

Deferred financing costs, accumulated amortization

$ 45,794

$ 40,713

Preferred stock, par value (in dollars per share)

$ 0.01

$ 0.01

Preferred stock, shares authorized (in shares)

2,000,000

2,000,000

Preferred stock, shares issued (in shares)

0

0

Common stock, par value (in dollars per share)

$ 0.01

$ 0.01

Common stock, shares authorized (in shares)

200,000,000

200,000,000

Common stock, shares issued (in shares)

100,937,026

97,907,441

Common stock, shares outstanding (in shares)

100,937,026

97,907,441

Non-controlled/Non-affiliated

Investments, cost

$ 2,476,914

$ 2,323,224

Non-controlled/Affiliated

Investments, cost

84,624

80,801

^[3]

Controlled

Investments, cost

$ 697,365

^[4]

$ 722,467

^[5]

[1]

New Mountain Finance Corporation (the "Company") generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act

[2]

New Mountain Finance Corporation (the "Company") generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act.

[3]

Denotes investments in which the Company is an “Affiliated Person”, as defined in the Investment Company Act of 1940, as amended (the "1940 Act"), due to owning or holding the power to vote 5.0% or more of the outstanding voting securities of the investment but not controlling the company. Fair value as of December 31, 2021 and December 31, 2020 along with transactions during the year ended December 31, 2021 in which the issuer was a non-controlled/affiliated investment is as follows:

Portfolio Company						Fair Value at December 31, 2020						Gross Additions (A)						Gross Redemptions (B)						Net Realized Gains (Losses)						Net Change In Unrealized Appreciation (Depreciation)						Fair Value at December 31, 2021						Interest Income						Dividend Income						Other Income
Permian Holdco 1, Inc. / Permian Holdco 2, Inc. / Permian Holdco 3, Inc. / Permian Trust						$	—					$	225					$	(12,438)					$	(12,213)					$	12,213					$	—					$	—					$	—					$	—
Sierra Hamilton Holdings Corporation						4,776						11						(828)						2						41						4,000						188						—						24
TVG-Edmentum Holdings, LLC / Edmentum Ultimate Holdings, LLC						98,236						5,575						(27,287)						20,549						54,251						130,775						1,825						5,123						321
Total Non-Controlled/Affiliated Investments						$	103,012					$	5,811					$	(40,553)					$	8,338					$	66,505					$	134,775					$	2,013					$	5,123					$	345

(A)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, payment-in-kind (“PIK”) interest or dividends, the amortization of discounts, reorganizations or restructurings and the movement at fair value of an existing portfolio company into this category from a different category.

(B)Gross reductions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, reorganizations or restructurings and the movement of an existing portfolio company out of this category into a different category.

[4]

Denotes investments in which the Company is in “Control”, as defined in the 1940 Act, due to owning or holding the power to vote more than 25.0% of the outstanding voting securities of the investment. Fair value as of September 30, 2022 and December 31, 2021, along with transactions during the nine months ended September 30, 2022 in which the issuer was a controlled investment, is as follows:

Portfolio Company (1)						Fair Value at December 31, 2021						Gross Additions (A)						Gross Redemptions (B)						Net Change In Unrealized Appreciation (Depreciation)						Fair Value at September 30, 2022						Net Realized Gains (Losses)						Interest Income						Dividend Income						Other Income
National HME, Inc./NHME Holdings Corp.						$	27,347					$	3,075					$	—					$	(23,401)					$	7,021					$	—					$	1,575					$	—					$	—
New Benevis Topco, LLC / New Benevis Holdco, Inc.						109,595						4,377						—						(1,173)						112,799						—						5,753						—						1,125
New Permian Holdco, Inc. / New Permian Holdco, L.L.C.						34,759						6,560						—						5,000						46,319						—						3,215						—						389
NM APP CANADA CORP						9,422						—						—						2,198						11,620						—						—						635						500
NM APP US LLC						14,891						—						(5,080)						(9,811)						—						4,488						—						255						483
NM CLFX LP						24,676						—						—						(7,154)						17,522						—						—						1,169						—
NM DRVT LLC						7,984						—						(5,152)						(2,832)						—						3,439						—						173						475
NM JRA LLC						3,996						—						(2,043)						(1,953)						—						2,049						—						72						188
NM GLCR LP						50,687						—						(14,750)						(35,937)						—						35,713						—						400						2,150
NM KRLN LLC						244						97						(9,318)						8,977						—						(9,318)						—						—						—
NM NL Holdings, L.P.						107,870						52						(10,886)						(1,680)						95,356						—						—						6,330						—
NM GP Holdco, LLC						1,197						—						(137)						(22)						1,038						—						—						73						—
NM YI LLC						8,286						—						—						1,089						9,375						—						—						621						—
NMFC Senior Loan Program III LLC						140,000						—						—						—						140,000						—						—						12,935						—
NMFC Senior Loan Program IV LLC						112,400						—						—						—						112,400						—						—						9,520						—
Haven Midstream LLC / Haven Midstream Holdings LLC / QID TRH Holdings LLC						34,821						3,866						(5,628)						40,010						73,069						—						4,717						—						1,381
UniTek Global Services, Inc.						67,635						11,378						(1,513)						15,653						93,153						—						3,321						3,191						544
Total Controlled Investments						$	755,810					$	29,405					$	(54,507)					$	(11,036)					$	719,672					$	36,371					$	18,581					$	35,374					$	7,235

(A)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest or dividends, the amortization of discounts, reorganizations or restructurings and the movement of an existing portfolio company into this category from a different category.

(B)Gross redemptions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, reorganizations or restructurings and the movement of an existing portfolio company out of this category into a different category.

[5]

Denotes investments in which the Company is in “Control”, as defined in the 1940 Act, due to owning or holding the power to vote more than 25.0% of the outstanding voting securities of the investment. Fair value as of December 31, 2021 and December 31, 2020 along with transactions during the year ended December 31, 2021 in which the issuer was a controlled investment, is as follows:

Portfolio Company						Fair Value at December 31, 2020						Gross Additions (A)						Gross Redemptions (B)						Net  Realized Gains (Losses)						Net Change In Unrealized Appreciation (Depreciation)						Fair Value at December 31, 2021						Interest Income						Dividend Income						Other Income
Edmentum Inc.						$	—					$	—					$	—					$	2,207					$	—					$	—					$	—					$	—					$	1,200
National HME, Inc./NHME Holdings Corp.						27,530						8,094						—						—						(8,277)						27,347						4,594						—						500
New Benevis Topco, LLC / New Benevis Holdco, Inc.						98,442						5,417						—						—						5,736						109,595						6,956						—						1,500
New Permian Holdco, Inc. / New Permian Holdco, L.L.C.						29,336						5,423						—						—						—						34,759						3,522						—						634
NM APP CANADA CORP						12,302						—						—						—						(2,880)						9,422						—						978						—
NM APP US LLC						7,410						—						—						—						7,481						14,891						—						561						—
NM CLFX LP						14,885						—						—						—						9,791						24,676						—						1,521						—
NM DRVT LLC						7,084						—						—						—						900						7,984						—						466						—
NM JRA LLC						3,830						—						—						—						166						3,996						—						268						—
NM GLCR LP						29,130						—						—						—						21,557						50,687						—						1,892						—
NM KRLN LLC						1,501						641						—						—						(1,898)						244						—						—						—
NM NL Holdings, L.P.						67,132						32,757						—						—						7,981						107,870						—						7,414						—
NM GP Holdco, LLC						703						415						—						—						79						1,197						—						52						—
NM YI LLC						6,852						—						—						—						1,434						8,286						—						877						—
NMFC Senior Loan Program I LLC						23,000						10,000						(33,000)						—						—						—						—						741						—
NMFC Senior Loan Program II LLC						79,400						—						(79,400)						—						—						—						—						2,410						—
NMFC Senior Loan Program III LLC						120,000						20,000						—						—						—						140,000						—						16,712						—
NMFC Senior Loan Program IV LLC						—						112,400						—						—						—						112,400						—						7,767						—
Tenawa Resource Management LLC / Tenawa Resource Holdings LLC / QID TRH Holdings LLC (C)						—						64,776						(45,892)						(11,243)						15,937						34,821						845						—						8
UniTek Global Services, Inc.						72,338						6,669						(2,712)						1						(8,660)						67,635						3,880						4,497						738
Total Controlled Investments						$	600,875					$	266,592					$	(161,004)					$	(9,035)					$	49,347					$	755,810					$	19,797					$	46,156					$	4,580

(A)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest or dividends, the amortization of discounts, reorganizations or restructurings and the movement of an existing portfolio company into this category from a different category.

(B)Gross redemptions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, reorganizations or restructurings and the movement of an existing portfolio company out of this category into a different category.

(C)Portfolio company moved into the controlled category from the non-controlled/non-affiliated investment category.

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