v3.25.1
Fair Value - Unobservable Inputs (Details)
$ in Thousands
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 1,561,659 [1] $ 1,495,564 [2]
First lien    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value 1,304,600 1,250,834
Second lien    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value 119,089 119,089
Subordinated    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value 44,773 37,360
Equity and other    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value 93,197 88,281
Level III    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value 1,496,892 1,446,945
Level III | First lien    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value 1,273,379 1,248,992
Level III | First lien | Market & income approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 1,251,048 $ 1,236,463
Level III | First lien | Market & income approach | Low | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 8.0 9.0
Level III | First lien | Market & income approach | Low | Revenue multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 7.0 3.0
Level III | First lien | Market & income approach | Low | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.070 0.069
Level III | First lien | Market & income approach | High | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 30.0 30.0
Level III | First lien | Market & income approach | High | Revenue multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 18.5 19.5
Level III | First lien | Market & income approach | High | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.219 0.221
Level III | First lien | Market & income approach | Weighted Average | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 17.5 17.2
Level III | First lien | Market & income approach | Weighted Average | Revenue multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 9.7 11.0
Level III | First lien | Market & income approach | Weighted Average | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.095 0.098
Level III | First lien | Other    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 22,331 $ 12,529
Level III | Second lien    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value 85,543 72,312
Level III | Second lien | Market & income approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 85,543 $ 72,312
Level III | Second lien | Market & income approach | Low | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 14.0 14.0
Level III | Second lien | Market & income approach | Low | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.094 0.101
Level III | Second lien | Market & income approach | High | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 20.0 20.0
Level III | Second lien | Market & income approach | High | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.143 0.134
Level III | Second lien | Market & income approach | Weighted Average | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 17.8 17.9
Level III | Second lien | Market & income approach | Weighted Average | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.102 0.107
Level III | Subordinated    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 44,773 $ 37,360
Level III | Subordinated | Market & income approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 44,773 $ 37,360
Level III | Subordinated | Market & income approach | Low | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 9.0 9
Level III | Subordinated | Market & income approach | Low | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.126 0.125
Level III | Subordinated | Market & income approach | High | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 24.5 21
Level III | Subordinated | Market & income approach | High | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.142 0.143
Level III | Subordinated | Market & income approach | Weighted Average | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 19.2 19.1
Level III | Subordinated | Market & income approach | Weighted Average | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.111 0.132
Level III | Equity and other    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 93,197 $ 88,281
Level III | Equity and other | Market & income approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 93,197 $ 88,281
Level III | Equity and other | Market & income approach | Low | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 6.0 9.0
Level III | Equity and other | Market & income approach | Low | Revenue multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 5.0 13.5
Level III | Equity and other | Market & income approach | Low | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.086 0.082
Level III | Equity and other | Market & income approach | High | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 19.0 26.5
Level III | Equity and other | Market & income approach | High | Revenue multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 10.5 19.5
Level III | Equity and other | Market & income approach | High | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.167 0.172
Level III | Equity and other | Market & income approach | Weighted Average | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 12.6 15.2
Level III | Equity and other | Market & income approach | Weighted Average | Revenue multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 5.5 16.5
Level III | Equity and other | Market & income approach | Weighted Average | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Measurement input 0.105 0.119
[1] New Mountain Private Credit Fund (the "Company") generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act.
[2] New Mountain Private Credit Fund (the "Company") generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act.