New Mountain Finance sells $477m of assets at discount

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New Mountain Finance sells $477m of assets at discount

privateequitywire

4 months ago

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Business development company New Mountain Finance has sold $477m of private credit assets at 94 cents on the dollar, according to a report by The Straits Times. It said the transaction was aimed at increasing portfolio diversification, reducing payment-in-kind income and improving financial flexibility.
The sale included full or partial interests in 15 portfolio companies and was priced at fair value as of 31 December. Company executives had previously indicated plans to dispose of up to $500m o...

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