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North Haven Private Income Fund Prorates Repurchases for Third Consecutive Quarter
Blue Vault reports that North Haven Private Income Fund will limit third-quarter repurchases to 5% of outstanding units after receiving requests for approximately 11.4%. The Morgan Stanley fund expects to accept about 43.8% of each request, with final processing still outstanding.
This is its third consecutive quarter of proportional allocation. Nearly two-thirds of the latest demand came from investors affected by earlier limits. The fund's estimate that repeat participants could receive more than 80% cumulatively across three quarters describes multiple tender windows, not the amount payable in the current offer.
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