XML 47 R36.htm IDEA: XBRL DOCUMENT v3.25.2
Fair Value - Summary of Unobservable Inputs (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Jun. 30, 2024
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value $ 409,415 [1] $ 377,794 [2] $ 377,794
First lien      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value 392,796   361,945
Second lien      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value 9,971   9,417
Subordinated      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value 1,908   1,741
Structured finance obligations      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value 474   472
Equity and other      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value 4,266   4,219
Level III      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value 384,865 331,675 331,675
Level III | First lien      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value 368,246   321,600
Level III | First lien | Market & income approach      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value $ 356,553 $ 312,800  
Level III | First lien | Market & income approach | Minimum | EBITDA multiple      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 7.0 8.5  
Level III | First lien | Market & income approach | Minimum | Revenue multiple      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 5.0 3  
Level III | First lien | Market & income approach | Minimum | Discount rate      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 0.064 0.068  
Level III | First lien | Market & income approach | Maximum | EBITDA multiple      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 36.0 35  
Level III | First lien | Market & income approach | Maximum | Revenue multiple      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 13.0 13  
Level III | First lien | Market & income approach | Maximum | Discount rate      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 0.122 0.127  
Level III | First lien | Market & income approach | Weighted Average | EBITDA multiple      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 17.7 16.8  
Level III | First lien | Market & income approach | Weighted Average | Revenue multiple      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 10.2 8.9  
Level III | First lien | Market & income approach | Weighted Average | Discount rate      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 0.087 0.092  
Level III | First lien | Other      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value $ 11,694 $ 8,800  
Level III | Second lien      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value 9,971   4,115
Level III | Second lien | Market & income approach      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value $ 9,971 $ 4,115  
Level III | Second lien | Market & income approach | Minimum | EBITDA multiple      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 14    
Level III | Second lien | Market & income approach | Minimum | Discount rate      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 9 0.099  
Level III | Second lien | Market & income approach | Maximum | EBITDA multiple      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 18    
Level III | Second lien | Market & income approach | Maximum | Discount rate      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 14 0.102  
Level III | Second lien | Market & income approach | Weighted Average | EBITDA multiple      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 16    
Level III | Second lien | Market & income approach | Weighted Average | Discount rate      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 9.3 0.101  
Level III | Subordinated      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value $ 1,908   1,741
Level III | Subordinated | Market & income approach      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value $ 1,908 $ 1,741  
Level III | Subordinated | Market & income approach | Minimum | EBITDA multiple      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 13.5 14.5  
Level III | Subordinated | Market & income approach | Minimum | Discount rate      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 0.143 0.146  
Level III | Subordinated | Market & income approach | Maximum | EBITDA multiple      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 15.5 15.5  
Level III | Subordinated | Market & income approach | Maximum | Discount rate      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 0.143 0.146  
Level III | Subordinated | Market & income approach | Weighted Average | EBITDA multiple      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 14.5 15  
Level III | Subordinated | Market & income approach | Weighted Average | Discount rate      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 0.143 0.146  
Level III | Structured finance obligations      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value $ 474   0
Level III | Structured finance obligations | Market & income approach      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value $ 474    
Level III | Structured finance obligations | Market & income approach | Minimum | Discount rate      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 0.113    
Level III | Structured finance obligations | Market & income approach | Maximum | Discount rate      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 0.113    
Level III | Structured finance obligations | Market & income approach | Weighted Average | Discount rate      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 0.113    
Level III | Equity and other      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value $ 4,266   $ 4,219
Level III | Equity and other | Market & income approach      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value $ 4,265 $ 802  
Level III | Equity and other | Market & income approach | Minimum | EBITDA multiple      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 13.8 12  
Level III | Equity and other | Market & income approach | Minimum | Discount rate      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 7.9 0.135  
Level III | Equity and other | Market & income approach | Maximum | EBITDA multiple      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 18 18  
Level III | Equity and other | Market & income approach | Maximum | Discount rate      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 13.4 0.135  
Level III | Equity and other | Market & income approach | Weighted Average | EBITDA multiple      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 17.4 16.3  
Level III | Equity and other | Market & income approach | Weighted Average | Discount rate      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Measurement input 0.118 0.135  
Level III | Equity and other | Other      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair Value   $ 3,417  
[1] New Mountain Guardian IV Income Fund, L.L.C. (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 Guardian IV Income Fund, L.L.C. (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.