Company: NMFCZ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001496099-25-000018
Chunk: 151

Company: New Mountain Finance Corp
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 151
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76 27 Total investment income15,207 16,816 Interest and other financing expenses8,180 8,790 Other expenses306 241 Total expenses8,486 9,031 Net investment income6,721 7,785 Net realized gains (losses) on investments321 (5,669)Net change in unrealized (depreciation) appreciation of investments(8,147)10,723 Net (decrease) increase in members' capital$(1,105)$12,839 For the three months ended March 31, 2025 and March 31, 2024, the Company earned approximately $5,800 and $5,863, respectively, of dividend income related to SLP III, which is included in dividend income. As of March 31, 2025 and December 31, 2024, approximately $5,800 and $6,100, respectively, of dividend income related to SLP III was included in interest and dividend receivable.The Company has determined that SLP III is an investment company under ASC 946; however, in accordance with such guidance the Company will generally not consolidate its investment in a company other than a wholly-owned investment company subsidiary. Furthermore, ASC 810 concludes that in a joint venture where both members have equal decision making authority, it is not appropriate for one member to consolidate the joint venture since neither has control. Accordingly, the Company does not consolidate SLP III.83

Table of ContentsNMFC Senior Loan Program IV LLCNMFC Senior Loan Program IV LLC ("SLP IV") was formed as a Delaware limited liability company on April 6, 2021, and commenced operations on May 5, 2021. SLP IV is structured as a private joint venture investment fund between the Company and SkyKnight Income Alpha, LLC ("SkyKnight Alpha") and operates under the First Amended and Restated Limited Liability Company Agreement of NMFC Senior Loan Program IV LLC, dated May 5, 2021 (the "SLP IV Agreement"). Upon the effectiveness of the SLP IV Agreement, the members contributed their respective membership interests in NMFC Senior Loan Program I LLC ("SLP I") and NMFC Senior Loan Program II LLC ("SLP II") to SLP IV. Immediately following the contribution of their membership interests, SLP I and SLP II became wholly-owned subsidiaries of SLP IV. The purpose of the joint venture is to invest primarily in senior secured loans