XML 66 R40.htm IDEA: XBRL DOCUMENT v3.25.3
Investments - Investment Cost and Fair Value by Type and by Industry (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Schedule of Investments [Line Items]    
Cost $ 3,062,321 [1] $ 3,101,924 [2]
Fair Value 2,943,619 [1] 3,091,024 [2]
Software    
Schedule of Investments [Line Items]    
Cost 825,524 857,673
Fair Value 820,891 848,086
Business Services    
Schedule of Investments [Line Items]    
Cost 577,446 508,536
Fair Value 519,649 497,954
Healthcare    
Schedule of Investments [Line Items]    
Cost 468,510 513,429
Fair Value 435,603 501,850
Investment Funds (includes investments in joint ventures)    
Schedule of Investments [Line Items]    
Cost 275,632 275,632
Fair Value 275,657 275,632
Consumer Services    
Schedule of Investments [Line Items]    
Cost 189,305 192,052
Fair Value 188,112 192,340
Education    
Schedule of Investments [Line Items]    
Cost 194,517 205,283
Fair Value 152,532 187,620
Financial Services    
Schedule of Investments [Line Items]    
Cost 101,465 120,505
Fair Value 106,699 125,750
Distribution & Logistics    
Schedule of Investments [Line Items]    
Cost 120,965 119,947
Fair Value 116,944 120,493
Net Lease    
Schedule of Investments [Line Items]    
Cost 81,370 81,370
Fair Value 114,944 114,794
Packaging    
Schedule of Investments [Line Items]    
Cost 69,994 68,200
Fair Value 71,527 68,093
Energy    
Schedule of Investments [Line Items]    
Cost 74,272 68,114
Fair Value 65,334 65,076
Business Products    
Schedule of Investments [Line Items]    
Cost 30,668 22,185
Fair Value 31,139 22,387
Food & Beverage    
Schedule of Investments [Line Items]    
Cost 21,240 38,840
Fair Value 21,230 42,450
Consumer Products    
Schedule of Investments [Line Items]    
Cost 21,816 20,769
Fair Value 13,715 19,101
Specialty Chemicals & Materials    
Schedule of Investments [Line Items]    
Cost 9,597 9,389
Fair Value 9,643 9,398
First lien    
Schedule of Investments [Line Items]    
Cost 2,024,938 1,970,251
Fair Value 1,989,262 1,956,608
Second lien    
Schedule of Investments [Line Items]    
Cost 108,135 211,449
Fair Value 98,128 197,050
Subordinated    
Schedule of Investments [Line Items]    
Cost 123,295 113,928
Fair Value 111,031 102,034
Structured Finance Obligations    
Schedule of Investments [Line Items]    
Cost 3,232 3,232
Fair Value 3,257 3,232
Equity and other    
Schedule of Investments [Line Items]    
Cost 802,721 803,064
Fair Value $ 741,941 $ 832,100
[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.