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New Mountain Finance Corporation Announces Preliminary Estimates of Fourth Quarter 2023 Operating Results
NEW YORK--(BUSINESS WIRE)-- New Mountain Finance Corporation (NASDAQ: NMFC) (“NMFC”, “the Company”, “we” or “our”) today announced its preliminary estimates
About this update from New Mountain Finance Corporation
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nNew Mountain Finance Corporation (NASDAQ: NMFC) (“NMFC”, “the Company”, “we” or “our”) today announced its preliminary estimates of its financial condition and results of operations as of and for the three months ended December 31, 2023, which are estimated as of January 17, 2024.\n\n\nWe estimate that our net investment income per share for the three months ended December 31, 2023 was between $0.39 per share and $0.40 per share, calculated using 101,638,346 weighted average shares for the three months ended December 31, 2023. We estimate that our net asset value per share as of December 31, 2023 was between $12.85 per share and $12.90 per share. This estimate is net of the $0.10 per share special dividend that was paid on December 29, 2023. We estimate that our statutory leverage ratio as of December 31, 2023 was 1.14x and our statutory leverage ratio net of available cash was 1.10x.\n\n\nNMFC will release its finalized fourth quarter 2023 operating results on February 26, 2024.\n\n\nABOUT NEW MOUNTAIN FINANCE CORPORATION\n\n\nNew Mountain Finance Corporation (NASDAQ: NMFC) is a leading business development company (BDC) focused on providing direct lending solutions to U.S. middle market companies backed by top private equity sponsors. Our portfolio consists primarily of senior secured loans, and select junior capital positions, to growing businesses in defensive industries that offer attractive risk-adjusted returns. Our differentiated investment approach leverages the deep sector knowledge and operating resources of New Mountain Capital, a global investment firm with over $45 billion of assets under management as of September 30, 2023.\n\n\nABOUT NEW MOUNTAIN CAPITAL\n\n\nNew Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit and net lease investment strategies with over $45 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.\n\n\nFORWARD-LOOKING STATEMENTS\n\n\nStatements included herein may contain “forward-looking statements” with respect to the busine...