DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
BDC portfolio
New Mountain Finance Corp
Fair value
$2.3B
as of Jun 30, 2026
Principal held
$2.0B
debt pieces, the filer's figure
Cost
$2.5B
92c on cost
Unfunded
n/a
commitments not yet drawn
Positions
391
121 borrowers
First lien
63%
83% debt by fair value
Quarters on the tape
17
since Dec 31, 2021
Facilities held
156
23 sponsors financed
Portfolio through time
Fair value by quarter end$2.3B as of Jun 30, 2026
Dec 31, 2021$3.2B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $2.3B | 121 | 95c | 49 | 502 bp |
| Mar 31, 2026 | $2.3B | 124 | 94c | 46 | 514 bp |
| Dec 31, 2025 | $2.8B | 125 | 97c | 49 | 514 bp |
| Sep 30, 2025 | $3.0B | 140 | 97c | 55 | 507 bp |
| Jun 30, 2025 | $3.0B | 136 | 98c | 52 | 529 bp |
| Mar 31, 2025 | $3.1B | 132 | 98c | 49 | 527 bp |
| Dec 31, 2024 | $7.1B | 132 | 104c | 118 | 533 bp |
| Sep 30, 2024 | $3.3B | 140 | 99c | 58 | 544 bp |
| Jun 30, 2024 | $3.2B | 138 | 99c | 66 | 565 bp |
| Mar 31, 2024 | $3.1B | 130 | 96c | 68 | 574 bp |
| Dec 31, 2023 | $4.8B | 125 | 96c | 96 | 589 bp |
| Sep 30, 2023 | $3.1B | 125 | 96c | 66 | 616 bp |
| Jun 30, 2023 | $3.2B | 128 | 95c | 38 | 628 bp |
| Mar 31, 2023 | $3.3B | 131 | 95c | 33 | 635 bp |
| Dec 31, 2022 | $3.3B | 126 | 95c | 48 | 607 bp |
| Sep 30, 2022 | $3.2B | 122 | 95c | 20 | 615 bp |
| Jun 30, 2022 | n/a | 1 | n/a | 0 | n/a |
| Dec 31, 2021 | $3.2B | 124 | 98c | 23 | 622 bp |
| Sep 30, 2021 | n/a | 2 | n/a | 0 | n/a |
| Mar 31, 2021 | n/a | 1 | n/a | 0 | n/a |
| Mar 30, 2020 | n/a | 1 | n/a | 0 | n/a |
Each quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
Counted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.
What changed
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- Maturity shortened (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- New lender joined a facilityJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Lender left a facilityMar 31, 2026
Largest facilities held, with co-lenders
- TVG-Edmentum Holdings, LLC equity2 BDCs hold it$77.8M 7c
- American Achievement Corporation first lien term loan1 BDC hold it · matures Sep 1, 2027$65.5M 51c
- Einstein Parent, Inc first lien term loan23 BDCs hold it · matures Jan 22, 2031 · Vista Equity Partners Management, LLC$61.3M 98c
- New Permian Holdco first lien term loan1 BDC hold it · matures Dec 1, 2027$55.2M 100c
- Model N, Inc first lien term loan11 BDCs hold it · matures Jun 27, 2031$52.9M 100c
- DECA Dental Holdings LLC first lien term loan6 BDCs hold it · matures Aug 28, 2028$43.5M 89c
- Nelipak Holding Company first lien term loan9 BDCs hold it · matures Mar 1, 2032$42.3M 104c
- TigerConnect, Inc first lien term loan9 BDCs hold it · matures Aug 16, 2029 · Vista Equity Partners Management, LLC$41.0M 99c
- TMK Hawk Parent, Corp first lien term loan5 BDCs hold it · matures Jul 1, 2029$40.3M 79c
- CentralSquare Technologies, LLC first lien term loan11 BDCs hold it · matures Apr 12, 2030$40.3M 101c
- MRI Software LLC first lien term loan35 BDCs hold it · matures Feb 29, 2028$38.9M 98c
- IG Investments Holdings, LLC first lien term loan26 BDCs hold it · matures Dec 1, 2029 · Diversis Capital Management, L.P.$38.6M 100c
Schedule of investments at Jun 30, 2026
391 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| NMFC | term loan lien unstated | n/a | $158M 99c | ||
| NM NL Holdings, L.P. | equity equity | n/a | $112M 147c | ||
| NMFC | term loan lien unstated | n/a | $106M 94c | ||
| UniTek Global Services, Inc. | preferred equity equity | n/a | $71.1M 105c | 20.00% PIK 20.00% | |
| Model N, Inc. | term loan first lien | $43.6M | $43.2M 100c | S+475 bp | Jun 1, 2031 |
| CentralSquare Technologies, LLC | term loan first lien | $36.3M | $36.3M 101c | S+575 bp | Apr 1, 2030 |
| Einstein Parent, Inc. | term loan first lien | $35.6M | $34.7M 98c | S+525 bp | Jan 1, 2031 |
| Deca Dental Holdings LLC | term loan first lien | $36.6M | $32.5M 89c | S+575 bp | Aug 1, 2028 |
| Healthspan Buyer, LLC | term loan first lien | $32.3M | $32.3M 101c | S+475 bp | Oct 1, 2030 |
| IG Investments Holdings, LLC | term loan first lien | $32.3M | $32.3M 100c | S+500 bp | Sep 1, 2028 |
| Auctane Inc. (fka Stamps.com Inc.) | term loan first lien | $31.8M | $31.6M 100c | S+575 bp | Jun 1, 2033 |
| New Permian Holdco, L.L.C. | term loan first lien | $31.5M | $31.5M 100c | S+600 bp | Dec 1, 2027 |
| Associations, Inc. | term loan first lien | $29.9M | $29.9M 100c | S+650 bp | Jul 1, 2028 |
| TigerConnect, Inc. | term loan first lien | $29.9M | $29.6M 99c | S+625 bp | Aug 1, 2029 |
| Edmentum Ultimate Holdings, LLC | subordinated debt unsecured or subordinated | $29.1M | $29.1M 100c | 17.85% PIK 14.00% | Jan 1, 2028 |
| Fortis Solutions Group, LLC | term loan first lien | $29.1M | $29.1M 100c | S+550 bp | Oct 1, 2028 |
| New Benevis Holdco, Inc. | subordinated debt unsecured or subordinated | $28.5M | $28.5M 100c | 12.00% PIK 12.00% | Oct 1, 2028 |
| New Benevis Holdco, Inc. | term loan first lien | $25.6M | $25.6M 100c | 12.00% PIK 12.00% | Oct 1, 2028 |
| Dealer Tire Holdings, LLC | preferred equity equity | $27.1M | $25.2M 93c | 7.00% PIK 7.00% | |
| New Benevis Topco, LLC | equity equity | n/a | $24.4M 90c | ||
| PetVet Care Centers, LLC | term loan first lien | $27.7M | $23.8M 87c | S+600 bp | Nov 1, 2030 |
| Cronos Crimson Holdings, Inc. (f/k/a NMC Crimson Holdings, Inc.) | term loan first lien | $24.2M | $23.8M 99c | S+609 bp | Mar 1, 2028 |
| Tempo Acquisition, LLC | term loan first lien | $27.5M | $23.4M 118c | S+175 bp | Aug 1, 2028 |
| New Permian Holdco, L.L.C. | term loan first lien | $23.3M | $23.3M 100c | S+900 bp | Dec 1, 2027 |
| Foundational Education Group, Inc. | term loan second lien | $22.5M | $22.5M 100c | S+650 bp | Aug 1, 2029 |
| PPV Intermediate Holdings, LLC | term loan first lien | $22.1M | $21.6M 98c | S+575 bp | Aug 1, 2029 |
| YLG Holdings, Inc. | term loan first lien | $21.6M | $21.6M 100c | S+475 bp | Dec 1, 2030 |
| Sierra Enterprises, LLC | term loan first lien | $21.3M | $21.3M 101c | S+575 bp | May 1, 2030 |
| Xactly Corporation | term loan first lien | $22.5M | $21.2M 94c | S+625 bp | Jul 1, 2027 |
| PDI TA Holdings, Inc. | term loan first lien | $22.2M | $21.2M 96c | S+250 bp PIK 3.50% | Feb 1, 2031 |
| GC Waves Holdings, Inc. | term loan first lien | $21.1M | $21.1M 100c | S+450 bp | Oct 1, 2030 |
| MRI Software LLC | term loan first lien | $21.1M | $20.7M 98c | S+475 bp | Feb 1, 2028 |
| Brave Parent Holdings, Inc. | term loan first lien | $21.0M | $20.3M 97c | S+450 bp | Nov 1, 2030 |
| Tennessee Bidco Limited | term loan first lien | $20.0M | $20.0M 100c | S+350 bp PIK 2.00% | Jul 1, 2031 |
| GS Acquisitionco, Inc. | term loan first lien | $21.0M | $19.7M 94c | S+525 bp | May 1, 2028 |
| Einstein Parent, Inc. | term loan first lien | $20.0M | $19.5M 98c | S+525 bp | Jan 1, 2031 |
| Nelipak Holding Company | term loan first lien | $18.6M | $18.6M 106c | S+550 bp | Mar 1, 2031 |
| UniTek Global Services, Inc. | preferred equity equity | n/a | $18.4M 63c | ||
| Low Voltage Holdings Inc. | term loan first lien | $18.4M | $18.3M 100c | S+450 bp | Apr 1, 2032 |
| TMK Hawk Parent, Corp. | term loan first lien | $27.4M | $17.7M 72c | S+400 bp | Jul 1, 2029 |
| AmeriVet Partners Management, Inc. | term loan first lien | $18.7M | $17.6M 95c | S+550 bp | Feb 1, 2028 |
| Tennessee Bidco Limited | term loan first lien | $16.4M | $16.4M 100c | S+350 bp PIK 2.00% | Jul 1, 2031 |
| American Achievement Corporation (aka AAC Holding Corp.) | term loan first lien | $29.9M | $16.0M 54c | S+50 bp PIK 6.75% | Sep 1, 2027 |
| Viper Bidco. Inc. | term loan first lien | $11.8M | $15.6M 104c | S+450 bp | Nov 1, 2031 |
| Baker Tilly Advisory Group, LP | term loan first lien | $15.5M | $15.4M 99c | S+475 bp | Jun 1, 2031 |
| HS Purchaser, LLC / Help/Systems Holdings, Inc. | term loan second lien | $24.9M | $15.3M 62c | 12.74% PIK 9.00% | May 1, 2029 |
| Digicert, Inc. | term loan first lien | $15.4M | $15.3M 100c | S+575 bp | Jul 1, 2030 |
| Bonterra LLC | term loan first lien | $14.9M | $14.6M 98c | S+475 bp | Mar 1, 2032 |
| Kele Holdco, Inc. | term loan first lien | $14.4M | $14.4M 100c | S+450 bp | Feb 1, 2028 |
| Coupa Holdings, LLC | term loan first lien | $14.2M | $14.0M 99c | S+525 bp | Feb 1, 2030 |
| Symplr Software Intermediate Holdings, Inc. | preferred equity equity | n/a | $13.9M 71c | 14.33% PIK 10.50% | |
| Acumatica Holdings, Inc. | term loan first lien | $13.8M | $13.7M 100c | S+450 bp | Jul 1, 2032 |
| Eagle Infrastructure Super HoldCo, LLC | equity equity | n/a | $13.5M 329c | ||
| Daxko Acquisition Corporation | term loan first lien | $12.7M | $12.5M 99c | S+475 bp | Oct 1, 2028 |
| USRP Holdings, Inc. | term loan first lien | $12.3M | $12.3M 100c | S+475 bp | Dec 1, 2029 |
| New Benevis Topco, LLC | equity equity | n/a | $11.5M 90c | ||
| Houghton Mifflin Harcourt Company | term loan first lien | $14.3M | $11.3M 81c | S+525 bp | Apr 1, 2029 |
| New Permian Holdco, Inc. | equity equity | n/a | $11.0M 99c | ||
| Foundational Education Group, Inc. | term loan second lien | $11.0M | $11.0M 102c | S+650 bp | Aug 1, 2029 |
| HBWM Holdings, LLC | equity equity | n/a | $10.9M 227c | S+400 bp | |
| CFS Management, LLC | term loan first lien | $12.4M | $10.8M 87c | S+625 bp PIK 2.25% | Sep 1, 2026 |
| RLG Holdings, LLC | term loan first lien | $18.6M | $10.7M 113c | S+425 bp | Jul 1, 2028 |
| Eagle Infrastructure Services, LLC (fka FR Arsenal Holdings II Corp.) | term loan first lien | $10.6M | $10.6M 100c | S+750 bp | Apr 1, 2028 |
| Project Accelerate Parent, LLC | term loan first lien | $10.4M | $10.4M 100c | S+525 bp | Feb 1, 2031 |
| Cardinal Parent, Inc. | term loan first lien | $11.5M | $10.2M 89c | S+450 bp | Nov 1, 2027 |
| Associations, Inc. | subordinated debt unsecured or subordinated | $9.8M | $9.8M 100c | 14.25% PIK 14.25% | May 1, 2030 |
| AAH Topco, LLC | term loan first lien | $9.5M | $9.5M 100c | S+525 bp | Dec 1, 2027 |
| Ciklum Inc. | term loan first lien | $9.4M | $9.4M 101c | S+700 bp | Feb 1, 2030 |
| TVG-Edmentum Holdings, LLC | preferred equity equity | n/a | $9.4M 100c | 15.00% PIK 15.00% | |
| Knockout Intermediate Holdings I Inc. | preferred equity equity | n/a | $9.3M 65c | 14.60% PIK 10.75% | |
| Nelipak Holding Company | term loan first lien | $8.9M | $8.9M 101c | S+550 bp | Mar 1, 2031 |
| Bullhorn, Inc. | term loan first lien | $8.9M | $8.8M 98c | S+500 bp | Oct 1, 2029 |
| NM YI, LLC | equity equity | n/a | $8.7M 139c | ||
| AWP Group Holdings, Inc. | term loan first lien | $8.7M | $8.6M 100c | S+263 bp PIK 3.28% | Dec 1, 2032 |
| Cardinal Parent, Inc. | term loan second lien | $9.8M | $8.5M 87c | S+775 bp | Nov 1, 2028 |
| FS WhiteWater Borrower, LLC | term loan first lien | $8.4M | $8.4M 100c | S+500 bp | Dec 1, 2029 |
| Trinity Air Consultants Holdings Corporation | term loan first lien | $8.3M | $8.3M 100c | S+425 bp | Jun 1, 2029 |
| Firebird Acquisition Corp, Inc. | term loan first lien | $8.3M | $8.3M 100c | S+225 bp PIK 2.75% | Feb 1, 2032 |
| Alegeus Technologies Holdings Corp. | term loan first lien | $8.2M | $8.2M 101c | S+650 bp | Nov 1, 2029 |
| HP TLE Buyer, Inc. | term loan first lien | $8.2M | $8.2M 100c | S+475 bp | Jul 1, 2032 |
| PPV Intermediate Holdings, LLC | term loan first lien | $8.1M | $8.0M 98c | S+575 bp | Aug 1, 2029 |
| Matterhorn Finco, Inc. | term loan first lien | $8.0M | $7.9M 100c | S+550 bp | Mar 1, 2033 |
| Jawbreaker Parent, Inc. | term loan first lien | $7.8M | $7.8M 100c | S+475 bp | Jan 1, 2033 |
| Compsych Investments Corp. | term loan first lien | $7.8M | $7.8M 101c | S+475 bp | Jul 1, 2031 |
| Foreside Financial Group, LLC | term loan first lien | $7.7M | $7.7M 100c | S+525 bp | Oct 1, 2029 |
| Infogain Corporation | term loan first lien | $7.6M | $7.6M 100c | S+575 bp | Jul 1, 2028 |
| New ACI Holdings LLC | equity equity | n/a | $7.6M 100c | ||
| MRI Software LLC | term loan first lien | $7.5M | $7.3M 98c | S+475 bp | Feb 1, 2028 |
| AAH Topco, LLC | term loan first lien | $7.3M | $7.3M 100c | S+525 bp | Dec 1, 2027 |
| AAH Topco, LLC | subordinated debt unsecured or subordinated | $7.3M | $7.2M 99c | 11.50% PIK 11.50% | Dec 1, 2031 |
| Eclipse Buyer Inc. | term loan first lien | $7.1M | $7.0M 99c | S+450 bp | Sep 1, 2031 |
| iCIMS, Inc. | term loan first lien | $7.4M | $7.0M 95c | S+625 bp | Aug 1, 2028 |
| Planview Parent, Inc. | term loan second lien | $9.2M | $6.8M 74c | S+575 bp | Dec 1, 2028 |
| TMK Hawk Parent, Corp. | term loan first lien | $10.2M | $6.5M 109c | S+400 bp | Jul 1, 2029 |
| OEConnection LLC | term loan first lien | $6.6M | $6.5M 99c | S+450 bp | Dec 1, 2032 |
| Infogain Corporation | subordinated debt unsecured or subordinated | $6.3M | $6.3M 101c | S+750 bp | Jul 1, 2029 |
| Next Holdco, LLC | term loan first lien | $6.2M | $6.2M 100c | S+525 bp | Nov 1, 2030 |
| Legends Hospitality Holding Company, LLC | term loan first lien | $6.3M | $6.2M 100c | S+275 bp PIK 2.75% | Aug 1, 2031 |
| Fullsteam Operations LLC | term loan first lien | $6.2M | $6.2M 100c | S+525 bp | Aug 1, 2031 |
| KPSKY Acquisition Inc. | term loan first lien | $6.7M | $6.2M 92c | S+550 bp | Oct 1, 2028 |
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Registration
- Fiscal year end
- 1231reported
- Incorporated
- X1reported
- On the SEC BDC report
- 2012 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- New Mountain Guardian Corpreported
- Latest schedule
- 0001496099-26-000029reported