New Mountain Finance Corporation (NYSE: NMFC) announced that its board of directors has declared a special dividend of $0.14 per share, which will be payable on January 31, 2013 to stockholders of record as of December 31, 2012. This dividend is intended to minimize to the greatest extent possible the Company’s federal income or excise tax liability.
About New Mountain Finance Corporation – NMFC
New Mountain Finance Corporation (NMFC) is a closed-end, non-diversified and externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940, as amended. NMFC used all of the proceeds from its initial public offering as well as the proceeds from its concurrent private placement to acquire common membership units from New Mountain Finance Holdings, L.L.C. The investment objective of New Mountain Finance Holdings, L.L.C. is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities. In some cases, investments may include small equity interests. New Mountain Finance Holdings, L.L.C.’s investment activities are managed by its Investment Adviser, New Mountain Finance Advisers BDC, L.L.C., which is an investment adviser registered under the Investment Advisers Act of 1940, as amended.
New Mountain Finance Corporation (NMFC), formerly New Mountain Guardian Corporation, will be a holding company with no direct operations of its own, and its only business and sole asset will be its ownership of common membership units of New Mountain Guardian Holdings, L.L.C. (NMG LLC), the operating company for its business. NMG LLC will be an externally managed finance company, which will own all of the existing assets, and will have assumed all of the existing liabilities, of the Guardian Entities following this offering. NMG LLC will be managed by New Mountain Guardian Advisors BDC, L.L.C, a wholly-owned subsidiary of New Mountain Capital, L.L.C. (New Mountain). New Mountain focuses on investing in high-quality, defensive growth companies across its private equity, public equity and credit investment vehicles.
About New Mountain Capital, L.L.C.
New Mountain Capital, L.L.C is a New York-based private equity firm investing for long-term capital appreciation through direct investments in growth equity transactions, leveraged acquisitions, and management buyouts. The firm currently manages private and public equity funds with approximately $9.0 billion in aggregate capital commitments. New Mountain Capital, L.L.C. seeks out the highest-quality defensive growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.