North Haven Private Income Fund Surveillance Report
Company Profile
North Haven Private Income Fund LLC (“North Haven” or “the company” or “PIF”) is a New York based, externally managed, non-diversified, private, perpetual life, closed-end investment management company regulated as a business development company (BDC) under the Investment Company Act of 1940. For tax purposes, the company has elected to be treated as a regulated investment company (RIC). PIF commenced operations on February 1, 2022.
MS Capital Partners Adviser Inc. (“MS Capital” or “the adviser”), an indirect, wholly owned subsidiary of Morgan Stanley (“MS”), is PIF’s investment adviser and has SEC exemptive relief permitting affiliate co-investments.
PIF is not a subsidiary of, or consolidated with, MS, and MS has no contractual or other obligation to financially support PIF. MS has no history of financially supporting any MS BDC.
Key Credit Considerations
PIF benefits from its integration with Morgan Stanley Investment…
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