Company profile

Fiscal year end
Former names
NMF Senior Loan Fund I, Inc.

Investment data

Data from SEC filings
Securities sold
Number of investors


12 Aug 22
29 Sep 22
31 Dec 22
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Dec 21 Chrysler Retireees Medical Benefits Plan UAW Common Stock Buy Acquire P No No 10.67 6,990,393.627 74.59M 29,306,851.333
15 Dec 21 Chrysler Retireees Medical Benefits Plan UAW Common Stock Buy Acquire P No No 10.67 5,010,543.58 53.46M 20,995,141.827
15 Dec 21 Chrysler Retireees Medical Benefits Plan UAW Common Stock Buy Acquire P No No 10.67 3,228,678.538 34.45M 13,525,873.146
30 Aug 21 Chrysler Retireees Medical Benefits Plan UAW Common Stock Buy Acquire P No No 10.77 6,094,428.969 65.64M 22,316,457.706
30 Aug 21 Chrysler Retireees Medical Benefits Plan UAW Common Stock Buy Acquire P No No 10.77 4,368,337.976 47.05M 15,984,598,247
30 Aug 21 Chrysler Retireees Medical Benefits Plan UAW Common Stock Buy Acquire P No No 10.77 2,814,856.082 30.32M 10,297,194.608

Financial report summary

  • We have a limited operating history.
  • We are currently operating in a period of capital markets disruption and economic uncertainty.
  • Further downgrades of the U.S. credit rating, impending automatic spending cuts or another government shutdown could negatively impact our liquidity, financial condition and earnings.
  • U.S. and worldwide economic, political, regulatory and financial market conditions may adversely affect our business, results of operations and financial condition, including our revenue growth and profitability.
  • There is potential for enhanced scrutiny and additional regulation of the private investment fund industry
  • There is uncertainty surrounding potential legal, regulatory and policy changes by new presidential administrations in the United States that may directly affect financial institutions and the global economy.
  • There is uncertainty as to the value of our portfolio investments because most of our investments are, and may continue to be in private companies and recorded at fair value. In addition, the fair values of our investments are determined by our Board in accordance with our valuation policy.
  • Our ability to achieve our investment objective depends on key investment personnel of the Investment Adviser. If the Investment Adviser were to lose any of its key investment personnel, our ability to achieve our investment objective could be significantly harmed.
  • The 1940 Act and the Code impose numerous constraints on the operations of BDCs and RICs.
  • We may face risks due to shared employees between our Investment Adviser and its affiliates and other activities of the personnel of our Investment Adviser.
  • We operate in a highly competitive market for investment opportunities and may not be able to compete effectively.
  • Our business, results of operations and financial condition depend on our ability to manage future growth effectively.
  • We may borrow money, which could magnify the potential for gain or loss on amounts invested in us and increase the risk of investing in us.
  • If we are unable to comply with the covenants or restrictions in our borrowings, our business could be materially adversely affected.
  • We may need to raise additional capital to grow.
  • Changes in interest rates may affect our cost of capital and net investment income.
  • Because we intend to distribute substantially all of our income to our stockholders to maintain our status as a RIC, we will continue to need additional capital to finance our growth. If additional funds are unavailable or not available on favorable terms, our ability to grow may be impaired.
  • We will accept investments from ERISA Plans
  • Our ability to enter into transactions with our affiliates is restricted.
  • The Investment Adviser has significant potential conflicts of interest with us and, consequently, your interests as stockholders which could adversely impact our investment returns.
  • The Investment Committee, the Investment Adviser or its affiliates may, from time to time, possess material non-public information, limiting our investment discretion.
  • To the extent (i) Benefit Plan Investors hold less than 25% of our shares, or (ii) our shares are listed on a national securities exchange, the valuation process for certain of our portfolio holdings may create a conflict of interest.
  • Conflicts of interest may exist related to other arrangements with the Investment Adviser or its affiliates.
  • The Investment Management Agreement with the Investment Adviser and the Administration Agreement with the Administrator were not negotiated on an arm’s length basis.
  • The Investment Adviser can resign upon 60 days' notice, and a suitable replacement may not be found within that time, resulting in disruptions in our operations that could adversely affect our business, results of operations and financial condition.
  • The Administrator can resign upon 60 days' notice from its role as Administrator under the Administration Agreement, and a suitable replacement may not be found, resulting in disruptions that could adversely affect our business, results of operations and financial condition.
  • If we fail to operate as a BDC, our business and operating flexibility could be significantly reduced.
  • If we do not invest a sufficient portion of our assets in qualifying assets, we could be precluded from investing in certain assets or could be required to dispose of certain assets, which could have a material adverse effect on our business, financial condition and results of operations.
  • Our ability to invest in public companies may be limited in certain circumstances.
  • Regulations governing the operations of BDCs may affect our ability to raise additional equity capital as well as our ability to issue senior securities or borrow for investment purposes, any or all of which could have a negative effect on our investment objectives and strategies.
  • We may experience fluctuations in our annual and quarterly results due to the nature of our business.
  • Our Board may change our investment objective, operating policies and strategies without prior notice or stockholder approval, the effects of which may be adverse to your interests as stockholders.
  • We will be subject to corporate-level U.S. federal income tax on all of our income if we are unable to maintain tax treatment as a RIC under Subchapter M of the Code, which would have a material adverse effect on our financial performance.
  • We may not be able to pay you distributions on our common stock, our distributions to you may not grow over time and a portion of our distributions to you may be a return of capital for U.S. federal income tax purposes.
  • We may have difficulty paying our required distributions if we recognize taxable income before or without receiving cash representing such income.
  • There are special tax issues associated with investments in instruments that would be rated below investment grade
  • We could be required to restructure or liquidate our investment in a subsidiary if applicable provisions of the Code and the Treasury Regulations do not remain in effect.
  • Changes in laws or regulations governing our operations may adversely affect our business or cause us to alter our business strategy.
  • We cannot predict how tax reform legislation will affect us, our investments, or our stockholders, and any such legislation could adversely affect our business.
  • Our business and operations could be negatively affected if we become subject to any securities litigation or stockholder activism, which could cause us to incur significant expense and hinder execution of investment strategy.
  • The effect of global climate change may impact the operations of our portfolio companies.
  • We are subject to risks related to corporate social responsibility
  • Increased geopolitical unrest, terrorist attacks, or acts of war may affect any market for our common stock, impact the businesses in which we invest, and harm our business, operating results, and financial conditions.
  • We are an "Emerging Growth Company" Under the JOBS Act.
  • Our business is highly dependent on information systems and systems failures could significantly disrupt our business, which may, in turn, negatively affect our ability to pay distributions.
  • Internal and external cyber threats, disease pandemics, as well as other disasters, could impair our ability to conduct business effectively.
  • We, our Investment Adviser and our portfolio companies are subject to risks associated with "phishing" and other cyber-attacks.
  • Our investments in portfolio companies may be risky, and we could lose all or part of any of our investments.
  • Our investment strategy, which is focused primarily on privately held companies, presents certain challenges, including the lack of available information about these companies.
  • Our investments in securities rated below investment grade are speculative in nature and are subject to additional risk factors such as increased possibility of default, illiquidity of the security, and changes in value based on changes in interest rates.
  • We may suffer credit losses.
  • Covenant-lite loans may offer us fewer protections than traditional investments.
  • Our portfolio may be concentrated in a limited number of industries, which may subject us to a risk of significant loss if there is a downturn in a particular industry in which a number of our investments are concentrated.
  • If we make unsecured investments, those investments might not generate sufficient cash flow to service their debt obligations to us.
  • Defaults by our portfolio companies may harm our operating results.
  • The lack of liquidity in our investments may adversely affect our business.
  • Price declines and illiquidity in the corporate debt markets may adversely affect the fair value of our portfolio investments, reducing our net asset value through increased net unrealized depreciation.
  • If we are unable to make follow-on investments in our portfolio companies, the value of our investment portfolio could be adversely affected.
  • Our portfolio companies may incur debt that ranks equally with, or senior to, our investments in such companies.
  • The disposition of our investments may result in contingent liabilities.
  • There may be circumstances where our debt investments could be subordinated to claims of other creditors or we could be subject to lender liability claims.
  • We generally do not control our portfolio companies.
  • We do not have influence over the day-to-day management of portfolio companies or their retention of effective personnel.
  • Economic recessions, downturns or government spending cuts could impair our portfolio companies and harm our operating results.
  • Prepayments of our debt investments by our portfolio companies could adversely impact our results of operations and reduce our return on equity.
  • Our performance may differ from our Investment Adviser's historical performance as our current investment strategy includes significantly more primary originations in addition to secondary market purchases.
  • We may be subject to additional risks if we invest in foreign securities and/or engage in hedging transactions.
  • We may pay additional consulting fees to New Mountain Capital’s Executive Advisory Council.
  • Inflation and rising commodity prices may adversely impact our portfolio companies.
  • Our ability to enter into transactions involving derivatives and financial commitment transactions may be limited.
  • Changes relating to the LIBOR calculation process may adversely affect the value of our portfolio of LIBOR-indexed, floating-rate debt securities.
  • There are risks associated with conducting due diligence of portfolio companies, including the risk of failing to predict certain conduct.
  • Investing in our common stock may involve an above average degree of risk.
  • Our charter and our bylaws, as well as certain statutory and regulatory requirements, could deter takeover attempts.
  • You may not receive distributions or our distributions may decline or may not grow over time.
  • Original Issue Discount and PIK loans
  • Although, we do not intend to do so, if we issue preferred stock, the net asset value and market value of our common stock will likely become more volatile.
  • Holders of any preferred stock we might issue would have the right to elect members of our Board and class voting rights on certain matters.
  • Shares are registered under the Exchange Act and therefore stockholders may be subject to certain filing requirements.
  • Because we are not currently a "publicly offered regulated investment company," as defined in the Code, certain U.S. Stockholders will be treated as having received a dividend from us in the amount of such U.S. stockholder's allocable share of certain of our expenses, including a portion of its management fees, and such expenses will be treated as miscellaneous itemized deductions of such U.S. stockholders that are not currently deductible.
  • We do not currently intend for our shares to be listed on any national securities exchange.

Content analysis

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