NMFC · New Mountain Finance Corporation

New Mountain Finance Corporation (NMFC) reported Q1 2026 adjusted net investment income of $0.32 per share, matching the prior year's figure. GAAP net investment income was $0.30 per share, down from $0.32, due to $1.6 million in accelerated deferred financing costs related to the commitment decrease of the Holdings Credit Facility and partial repayment of SBIC II debentures. The company declared a Q2 2026 distribution of $0.25 per share, payable June 30, 2026, to holders of record June 16, 2026. This represents a reduction from the $0.32 per share paid in Q1 2026, reflecting the portfolio sale and deleveraging. Management highlighted the completion of a ~$470 million portfolio sale on March 10, 2026, at 94% of fair value, using proceeds to reduce debt and repurchase shares. Year-to-date, NMFC repurchased ~$66 million of shares at a weighted average price of $8.01 per share, and the board authorized an additional $50 million for buybacks, bringing remaining capacity to ~$80 million. Net asset value per share declined to $10.92 from $11.52 at year-end 2025, partly due to the secondary sale and broader market movements in software and technology loans. The portfolio remains high quality, with 91% rated green on the internal heatmap. Additionally, the company appointed Laura C. Holson as interim CFO and Treasurer, effective May 29, 2026, while she continues as COO. The filing also included a Regulation FD disclosure of the press release and investor presentation.