Company: NMFCZ
Filing Date: 2025-04-01
Form Type: 40-APP
Source: 0001104659-25-030582
Chunk: 7

Company: New Mountain Finance Corp
Filing Date: 2025-04-01
Form: 40-APP
Chunk 7
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 placement transactions pursuant to certain exemptions of the Securities Act and the laws of the states and jurisdictions
where any offering is made. GIV Income has made an election to be treated as a RIC under Subchapter M of the Code and intends to continue
to make such election in the future.

NEWCRED.NEWCRED is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated
as a business development company under the 1940 Act. NEWCRED was organized as a Maryland statutory trust under the General Corporate
Laws of the State of Maryland on August 19, 2024. On December 17, 2024, NEWCRED completed its acquisition of New Mountain Guardian
III BDC, L.L.C. NEWCRED is currently offering on a continuous basis its common shares of beneficial interest pursuant to certain exemptions
of the Securities Act and the laws of the states and jurisdictions where any offering is made. NEWCRED has made an election to be treated
as a RIC under Subchapter M of the Code and intends to continue to make such election in the future.

The investment objective of each of NMFC, SLF,
GIV, GIV Income and NEWCRED is to generate current income and capital appreciation through the sourcing and origination of senior secured
loans and select junior capital positions to growing businesses in defensive industries that offer attractive risk-adjusted returns. Each
Existing Regulated Fund intends to invest in the senior secured debt of U.S. sponsor-backed, middle market companies, defined as
businesses with annual earnings before interest, taxes, depreciation, and amortization between $10.0 million and $200.0 million. Senior
secured loans may include traditional first lien loans or unitranche loans.

<div align='center'>4</div>

The business and affairs of each of the Existing
Regulated Funds are managed under the direction of its respective board of directors or board of trustees (each, a “Board”).
The Board of NMFC consists of nine members, five of whom are not “interested persons” of NMFC within the meaning of Section 2(a)(19)
of the 1940 Act (the “Independent Directors”). The Board of SLF consists of five members, four
of whom are Independent Directors. The Boards of GIV, GIV Income and NEWCRED each consist of five members, three of whom are Independent
Directors.

B. The Existing Affiliated Funds

The Existing Aff