New Mountain Finance (US:NMFC)2022-03-01 15:47Financial Performance - The Net Asset Value (NAV) per share increased to $13.49 as of December 31, 2021, compared to $13.26 on September 30, 2021[17, 20] - The company reported a Net Investment Income (NII) of $0.31 per weighted average share for Q4 2021, exceeding the guidance of $0.30 per share[17] - Gross originations for NMFC reached $355 million in Q4 2021, contributing to a total of $1.1 billion for the full year 2021[17] - Adjusted Net Investment Income (NII) per weighted average share was $0.31 for the quarter ended December 31, 2021, consistent with the previous quarter[20] - New Mountain employees remain the largest shareholder, owning approximately 12% of the company[17, 20] Portfolio & Investment Strategy - The company's investment strategy focuses on "defensive growth" middle market companies with recurring and predictable business models[17, 21] - As of Q4 2021, 87% of the portfolio is characterized as Green, indicating stable performance[27, 28] - The fair value of investments totaled $3.1854 billion as of December 31, 2021, spread across 106 portfolio companies[20] - The company targets investments up to $125 million in middle market companies typically generating $10 - $200 million of EBITDA[21] Credit Market & Interest Rates - 90% of the company's investments are in floating rate instruments, while 47% of its debt is floating rate[42, 43] - An illustrative 2% increase in base interest rates is estimated to increase annual NII by $0.10 per share[45]