New Mountain Finance Corporation Announces Board Changes
November 19, 2019 at 04:57 pm
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On November 19, 2019, the board of directors of New Mountain Finance Corporation appointed Alice W. Handy as a Class II director with a term that expires at the Company’s 2022 annual meeting of stockholders. Additionally, Ms. Handy was appointed to the Company’s audit committee, valuation committee, compensation committee and nominating and corporate governance committee. Ms. Handy retired from Investure on December 31, 2018, an outsourced investment office for colleges and foundations which she formed in 2003 having served most recently as its Managing Member until her retirement and its Chief Executive Officer until January 1, 2018. Prior to forming Investure, Ms. Handy was the President of the University of Virginia Investment Management Company from 1974 to 2003. She currently serves on the board of directors of MSCI Inc., a company that provides investment decision support tools. Also, on November 19, 2019, the board of directors of NMFC appointed John R. Kline as a Class I director with a term that expires at the Company’s 2021 annual meeting of stockholders.
New Mountain Finance Corporation is a business development company focused on providing direct lending solutions to United States middle market companies backed by private equity sponsors. Its investment objective is to generate current income and capital appreciation through the sourcing and origination of senior secured loans and select junior capital positions, to growing businesses in defensive industries that offer attractive risk-adjusted returns. It makes investments through both primary originations and open-market secondary purchases. It invests a significant portion of its portfolio in unitranche loans, which are loans that combine both senior and subordinated debt, generally in a first lien position. The Company invests in various sectors, such as software, business services, healthcare, education, consumer services, distribution and logistics, packaging, financial services, and others. New Mountain Finance Advisers BDC, L.L.C. is the investment adviser of the Company.