Company: NMFCZ
Filing Date: 2025-04-01
Form Type: 40-APP
Source: 0001104659-25-030582
Chunk: 3

Company: New Mountain Finance Corp
Filing Date: 2025-04-01
Form: 40-APP
Chunk 3
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 Credit CLO Advisers, L.L.C. (“CLO Adviser” and together                            
 with NMFA and NMC, the “Existing Advisers”) serves as the investment                        
 adviser to certain of the Existing Affiliated Funds on behalf of itself and its successors. 
 CLO Adviser is an investment adviser registered under the Advisers Act. All of the Existing 
 Advisers are under common control.                                                          |

| • | Certain                                                                                     
 vehicles (as identified on Schedule A hereto) (the “Existing Wholly-Owned                   
 Subsidiaries”), each of which is a separate and distinct legal entity and each              
 of which is a Wholly-Owned Investment Sub (as defined below) of an Existing Regulated Fund. |

1Unless otherwise indicated, all section and rule references herein are to the 1940 Act and rules promulgated thereunder.

2 (File No. 812-15030), Release Nos. IC-33624 (September 12, 2019) (notice)
and IC-33656 (October 8, 2019) (order), as amended by File No. 812-15342, Release Nos. IC-34663 (August 4, 2022) (notice) and IC-34691
(order).

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| • | Certain                                                                                     
 existing Affiliated Funds (as identified on Schedule B hereto), each of which is a          
 separate and distinct legal entity and each of which would be an investment company but for 
 Section 3(c)(7) of the 1940 Act (the “Existing Affiliated Funds”                            
 and collectively with the Existing Regulated Funds, the Existing Advisers and the Existing  
 Wholly-Owned Subsidiaries, the “Applicants”).3                                              |

The relief requested in this application for the Order (the “Application”)
would allow a Regulated Fund and one or more Affiliated Entities to engage in Co-Investment Transactionssubject to the terms and conditions described herein. The Regulated Funds and Affiliated Entities that participate in a Co-Investment
Transaction are collectively referred to herein as “Participants.” The Applicants do not seek relief
for transactions effected consistent with Commission staff no-action positions.

3All existing entities that currently intend to rely upon the requested Order have been named as Applicants. Any other existing or future entity that subsequently relies on the Order will comply with the terms and conditions of the Application.

4“Regulated Fund” means the Existing Regulated Funds and any