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v3.23.1

Consolidated Statements of Assets and Liabilities (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022
--- | --- | ---
Investments, cost | $ 3,302,614 | [1] | $ 3,259,967 | [2]
Securities purchased under collateralized agreements to resell, cost | 30,000 |  | 30,000 |
Deferred financing costs, accumulated amortization | $ 49,187 |  | $ 47,531 |
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 |  | 100,937,026 |
Common stock, shares outstanding (in shares) | 100,937,026 |  | 100,937,026 |
Non-controlled/Non-affiliated |  |  |  |
Investments, cost | $ 2,578,975 |  | $ 2,523,522 |
Non-controlled/Affiliated |  |  |  |
Investments, cost | 102,901 | [3] | 85,971 | [4]
Controlled |  |  |  |
Investments, cost | $ 620,738 | [5] | $ 650,474 | [6]
[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 March 31, 2023 and December 31, 2022 along with transactions during the nine months ended March 31, 2023 in which the issuer was a non-controlled/affiliated investment is as follows:
Portfolio Company |  | Fair Value at December 31, 2022 |  | Gross Additions (A) |  | Gross Redemptions (B) |  | Net Change In Unrealized Appreciation (Depreciation) |  | Fair Value at March 31, 2023 |  | Net Realized Gains (Losses) |  | Interest Income |  | Dividend Income |  | Other Income
Eagle Infrastructure Services, LLC (fka FR Arsenal Holdings II Corp.) / Eagle Infrastructure Super HoldCo, LLC |  | $ | — |  |  | $ | 15,582 |  |  | $ | (459) |  |  | $ | (11) |  |  | $ | 15,112 |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |
Permian Holdco 3, Inc. / Permian Trust |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Sierra Hamilton Holdings Corporation |  | 4,000 |  |  | — |  |  | — |  |  | — |  |  | 4,000 |  |  | — |  |  | — |  |  | — |  |  | — |
TVG-Edmentum Holdings, LLC / Edmentum Ultimate Holdings, LLC |  | 126,787 |  |  | 1,807 |  |  | — |  |  | (5) |  |  | 128,589 |  |  | — |  |  | 696 |  |  | 1,105 |  |  | 63 |
Total Non-Controlled/Affiliated Investments |  | $ | 130,787 |  |  | $ | 17,389 |  |  | $ | (459) |  |  | $ | (16) |  |  | $ | 147,701 |  |  | $ | — |  |  | $ | 700 |  |  | $ | 1,105 |  |  | $ | 63 |
(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 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.
[4] | 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, 2022 and December 31, 2021 along with transactions during the year ended December 31, 2022 in which the issuer was a non-controlled/affiliated investment is as follows:
Portfolio Company |  | Fair Value at December 31, 2021 |  | Gross Additions (A) |  | Gross Redemptions (B) |  | Net Change In Unrealized Appreciation (Depreciation) |  | Fair Value at December 31, 2022 |  | Net Realized Gains (Losses) |  | Interest Income |  | Dividend Income |  | Other Income
Permian Holdco 3, Inc. / Permian Trust |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Sierra Hamilton Holdings Corporation |  | 4,000 |  |  | — |  |  | — |  |  | — |  |  | 4,000 |  |  | — |  |  | — |  |  | — |  |  | — |
TVG-Edmentum Holdings, LLC / Edmentum Ultimate Holdings, LLC |  | 130,775 |  |  | 5,168 |  |  | — |  |  | (9,156) |  |  | 126,787 |  |  | — |  |  | 2,105 |  |  | 4,109 |  |  | 250 |
Total Non-Controlled/Affiliated Investments |  | $ | 134,775 |  |  | $ | 5,168 |  |  | $ | — |  |  | $ | (9,156) |  |  | $ | 130,787 |  |  | $ | — |  |  | $ | 2,105 |  |  | $ | 4,109 |  |  | $ | 250 |
(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.
[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 March 31, 2023 and December 31, 2022, along with transactions during the three months ended March 31, 2023 in which the issuer was a controlled investment, is as follows:
Portfolio Company (1) |  | Fair Value at December 31, 2022 |  | Gross Additions (A) |  | Gross Redemptions (B) |  | Net Change In Unrealized Appreciation (Depreciation) |  | Fair Value at March 31, 2023 |  | Net Realized Gains (Losses) |  | Interest Income |  | Dividend Income |  | Other Income
National HME, Inc./NHME Holdings Corp. |  | $ | 5,381 |  |  | $ | — |  |  | $ | (17,404) |  |  | $ | 17,023 |  |  | $ | 5,000 |  |  | $ | (17,404) |  |  | $ | — |  |  | $ | — |  |  | $ | — |
New Benevis Topco, LLC / New Benevis Holdco, Inc. |  | 114,146 |  |  | 10,235 |  |  | — |  |  | (320) |  |  | 124,061 |  |  | — |  |  | 2,563 |  |  | — |  |  | 375 |
New Permian Holdco, Inc. / New Permian Holdco, L.L.C. |  | 57,564 |  |  | 1,312 |  |  | — |  |  | — |  |  | 58,876 |  |  | — |  |  | 1,333 |  |  | — |  |  | 129 |
NM APP CANADA CORP |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
NM APP US LLC |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
NM CLFX LP |  | 16,172 |  |  | — |  |  | — |  |  | (735) |  |  | 15,437 |  |  | — |  |  | — |  |  | 393 |  |  | — |
NM DRVT LLC |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
NM JRA LLC |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
NM GLCR LP |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
NM KRLN LLC |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
NM NL Holdings, L.P. |  | 94,305 |  |  | — |  |  | — |  |  | 271 |  |  | 94,576 |  |  | — |  |  | — |  |  | 2,318 |  |  | — |
NM GP Holdco, LLC |  | 1,028 |  |  | — |  |  | — |  |  | 1 |  |  | 1,029 |  |  | — |  |  | — |  |  | 26 |  |  | — |
NM YI LLC |  | 9,481 |  |  | — |  |  | — |  |  | 100 |  |  | 9,581 |  |  | — |  |  | — |  |  | 214 |  |  | — |
NMFC Senior Loan Program III LLC |  | 140,000 |  |  | — |  |  | — |  |  | — |  |  | 140,000 |  |  | — |  |  | — |  |  | 4,462 |  |  | — |
NMFC Senior Loan Program IV LLC |  | 112,400 |  |  | — |  |  | — |  |  | — |  |  | 112,400 |  |  | — |  |  | — |  |  | 3,583 |  |  | — |
Haven Midstream LLC / Haven Midstream Holdings LLC / QID TRH Holdings LLC |  | 35,788 |  |  | — |  |  | — |  |  | (19,397) |  |  | 16,391 |  |  | 19,375 |  |  | — |  |  | — |  |  | 510 |
UniTek Global Services, Inc. |  | 103,770 |  |  | 2,563 |  |  | (26,445) |  |  | 11,854 |  |  | 91,740 |  |  | 2 |  |  | 1,936 |  |  | 1,229 |  |  | 181 |
Total Controlled Investments |  | $ | 690,035 |  |  | $ | 14,110 |  |  | $ | (43,849) |  |  | $ | 8,797 |  |  | $ | 669,091 |  |  | $ | 1,973 |  |  | $ | 5,832 |  |  | $ | 12,225 |  |  | $ | 1,195 |
(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.
[6] | 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, 2022 and December 31, 2021 along with transactions during the year ended December 31, 2022 in which the issuer was a controlled investment, is as follows:
Portfolio Company |  | Fair Value at December 31, 2021 |  | Gross Additions (A) |  | Gross Redemptions (B) |  | Net Change In Unrealized Appreciation (Depreciation) |  | Fair Value at December 31, 2022 |  | Net Realized Gains (Losses) |  | Interest Income |  | Dividend Income |  | Other Income
Edmentum Inc. |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 54 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
National HME, Inc./NHME Holdings Corp. |  | 27,347 |  |  | (8,161) |  |  | — |  |  | (13,805) |  |  | 5,381 |  |  | — |  |  | (9,661) |  |  | — |  |  | (1,500) |
New Benevis Topco, LLC / New Benevis Holdco, Inc. |  | 109,595 |  |  | 5,914 |  |  | — |  |  | (1,363) |  |  | 114,146 |  |  | — |  |  | 8,057 |  |  | — |  |  | 1,500 |
New Permian Holdco, Inc. / New Permian Holdco, L.L.C. |  | 34,759 |  |  | 7,805 |  |  | — |  |  | 15,000 |  |  | 57,564 |  |  | — |  |  | 4,504 |  |  | — |  |  | 511 |
NM APP CANADA CORP |  | 9,422 |  |  | — |  |  | (7,345) |  |  | (2,077) |  |  | — |  |  | 4,212 |  |  | — |  |  | 620 |  |  | 713 |
NM APP US LLC |  | 14,891 |  |  | — |  |  | (5,080) |  |  | (9,811) |  |  | — |  |  | 4,489 |  |  | — |  |  | 255 |  |  | 483 |
NM CLFX LP |  | 24,676 |  |  | — |  |  | — |  |  | (8,504) |  |  | 16,172 |  |  | — |  |  | — |  |  | 1,596 |  |  | — |
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 |  |  | (9,319) |  |  | 8,978 |  |  | — |  |  | (9,318) |  |  | — |  |  | — |  |  | — |
NM NL Holdings, L.P. |  | 107,870 |  |  | 53 |  |  | (10,885) |  |  | (2,733) |  |  | 94,305 |  |  | — |  |  | — |  |  | 8,453 |  |  | — |
NM GP Holdco, LLC |  | 1,197 |  |  | 1 |  |  | (138) |  |  | (32) |  |  | 1,028 |  |  | — |  |  | — |  |  | 94 |  |  | — |
NM YI LLC |  | 8,286 |  |  | — |  |  | — |  |  | 1,195 |  |  | 9,481 |  |  | — |  |  | — |  |  | 828 |  |  | — |
NMFC Senior Loan Program III LLC |  | 140,000 |  |  | — |  |  | — |  |  | — |  |  | 140,000 |  |  | — |  |  | — |  |  | 17,485 |  |  | — |
NMFC Senior Loan Program IV LLC |  | 112,400 |  |  | — |  |  | — |  |  | — |  |  | 112,400 |  |  | — |  |  | — |  |  | 13,173 |  |  | — |
Haven Midstream LLC / Haven Midstream Holdings LLC / QID TRH Holdings LLC |  | 34,821 |  |  | 3,865 |  |  | (38,685) |  |  | 35,787 |  |  | 35,788 |  |  | 12,802 |  |  | 6,316 |  |  | — |  |  | 1,902 |
UniTek Global Services, Inc. |  | 67,635 |  |  | 13,378 |  |  | (1,549) |  |  | 24,306 |  |  | 103,770 |  |  | — |  |  | 4,738 |  |  | 4,363 |  |  | 724 |
Total Controlled Investments |  | $ | 755,810 |  |  | $ | 22,952 |  |  | $ | (94,946) |  |  | $ | 6,219 |  |  | $ | 690,035 |  |  | $ | 53,440 |  |  | $ | 13,954 |  |  | $ | 47,512 |  |  | $ | 7,146 |
(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.

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