New Mountain Private Credit Fund 8-K

What Happened

• New Mountain Private Credit Fund filed an 8‑K on March 26, 2026 announcing a regular distribution of $0.19 per share declared by the Board on March 25, 2026 (record date: March 31, 2026; pay date: on or about April 30, 2026). Shareholders may receive the distribution in cash or reinvest via the fund’s distribution reinvestment plan.
• The filing also reports results of the fund’s continuous private offering: as of March 2, 2026 (final share count determined March 25, 2026), the fund sold 124,843 common shares for total consideration of $2,980,000 (about $3.0 million) at $23.87 per share. These sales were made under exemptions to registration (Section 4(a)(2) and Rule 506 of Regulation D).
• Financial and valuation snapshot as of February 28, 2026: NAV per share $23.87; aggregate NAV ≈ $1,014.1 million; investment portfolio fair value ≈ $2,062.4 million; debt outstanding (principal) ≈ $1,094.8 million. Average debt‑to‑equity leverage during February 2026 was ~1.07x. Committed debt capacity ≈ $1,435.0 million (100% floating rate; 79% secured, 21% unsecured, based on drawn amounts).

Key Details

• Distribution: $0.19 per share declared March 25, 2026; record date March 31, 2026; payable on or about April 30, 2026; cash or reinvestment option available.
• Private offering: 124,843 shares issued in March; total consideration $2,980,000; price per share $23.87; offering exempt under Section 4(a)(2)/Rule 506.
• Valuation and balance sheet: NAV/share $23.87; total NAV ≈ $1,014.1M; portfolio fair value ≈ $2,062.4M; debt outstanding ≈ $1,094.8M; average leverage ≈ 1.07x.
• Liquidity/leverage capacity: committed debt capacity ≈ $1,435.0M, all floating rate (79% secured, 21% unsecured based on drawn amounts).

Why It Matters

• The declared distribution provides immediate income or reinvestment options for shareholders and is a regular cash return signal from the fund.
• NAV per share equals the price used in the March private offering ($23.87), indicating the offering price matched the reported NAV as of Feb 28, 2026.
• The fund continues to raise capital via a monthly private offering (subject to exemptions), which can dilute per‑share metrics if shareholders opt for reinvestment but also supports new investments and liquidity.
• Debt and leverage figures (≈$1.09B debt; ~1.07x average debt‑to‑equity) are important for assessing risk: significant committed debt capacity and floating‑rate exposure can affect distributions and NAV if interest rates change.