Company: NMFCZ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001496099-25-000018
Chunk: 313

Company: New Mountain Finance Corp
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 8
Chunk 313
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 Company accrues a hypothetical capital gains incentive fee based upon the cumulative net realized capital gains and realized capital losses and the cumulative net unrealized capital appreciation and unrealized capital depreciation on investments held at the end of each period. Actual amounts paid to the Investment Adviser are consistent with the Investment Management Agreement and are based only on actual realized capital gains computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis from inception through the end of each calendar year.

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The following table summarizes the management fees and incentive fees incurred by the Company for the three months ended March 31, 2025 and March 31, 2024: Three Months Ended March 31, 2025March 31, 2024Management fee$10,233 $10,997 Less: management fee waiver(288)(901)Total management fee9,945 10,096 Incentive fee, excluding accrued capital gains incentive fees$8,247 $9,389 Less: incentive fee waiver(1,534)— Total incentive fee6,713 9,389 Accrued capital gains incentive fees(1)$— $— (1)As of March 31, 2025 and March 31, 2024, no actual capital gains incentive fee was owed under the Investment Management Agreement by the Company, as cumulative net realized capital gains did not exceed cumulative unrealized capital depreciation. The Company has entered into the Administration Agreement with the Administrator under which the Administrator provides administrative services. The Administration Agreement was most recently re-approved by the Company's board of directors on January 29, 2025 for a period of 12 months commencing on March 1, 2025. The Administrator maintains, or oversees the maintenance of, the Company’s consolidated financial records, prepares reports filed with the SEC, generally monitors the payment of the Company's expenses and oversees the performance of administrative and professional services rendered by others. The Company reimburses the Administrator for the Company's allocable portion of overhead and other expenses incurred by the Administrator in performing its obligations to the Company under the Administration Agreement. Pursuant to the Administration Agreement and further restricted by the Company, the Administrator may, in its own discretion, submit to the Company for reimbursement some or all of the expenses that the Administrator has incurred on behalf of the Company during any quarterly period. As a result, the amount of expenses for which the Company will have to reimburse the Administrator may fluctuate in future quarterly periods and there can