Company: NMFCZ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001496099-25-000018
Chunk: 366

Company: New Mountain Finance Corp
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 8
Chunk 366
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 approximately $11.1 million for the three months ended March 31, 2025 compared to net realized losses and unrealized gains and losses resulting in a net loss of approximately $9.5 million for the same period in 2024. As movement in unrealized appreciation or depreciation can be the result of realizations, we look at net realized and unrealized gains or losses together. The net loss for the three months ended March 31, 2025 was primarily driven by unrealized depreciation in UniTek Global Services, Inc. ("UniTek"), TVG-Edmentum Holdings, LLC ("Edmentum") and New Permian Holdco, Inc., partially offset by unrealized appreciation in OA Buyer and HS Purchaser, LLC. The provision for income taxes was attributable to equity investments that are held as of March 31, 2025 in eight of our corporate subsidiaries. The net loss for the three months ended March 31, 2024 was primarily driven by a realized loss in TMK Hawk Parent, Corp. and unrealized depreciation in Edmentum and New Benevis Topco, LLC, partially offset by unrealized appreciation in NM GP Holdco, LLC, UniTek and CentralSquare Technologies, LLC. The provision for income taxes was attributable to equity investments that are held as of March 31, 2024 in eight of our corporate subsidiaries. See Monitoring of Portfolio Investments above for more details regarding the health of our portfolio companies.

Investment Income and Net Realized and Unrealized (Losses) Gains Related to Non-Controlling Interest in New Mountain Net Lease Corporation ("NMNLC")

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 Three Months Ended(in thousands)March 31, 2025March 31, 2024Total investment income$85,663 $90,556 Net expenses after income taxes51,022 53,002 Net investment income34,641 37,554 Less: Net investment income related to non-controlling interest in NMNLC117 229 Net investment income related to NMFC$34,524 $37,325 Net change in realized gains (losses) on investments37,825 (11,827)Less: Net change in realized gains on investments related to non-controlling interest in NMNLC— 3 Net change in realized gains (losses) of investments related to NMFC$37,825 $(11,830)Net change in unrealized (depreciation) appreciation of investments(49