EX-99.1 2 ck0001851322-ex99_1.htm EX-99.1 North Haven Private Income Fund MORGAN STANLEY PRIVATE CREDIT | INVESTOR UPDATE | JUNE 2026 1 Dear Investor, Thank you for your continued investment in North Haven Private Income Fund LLC (“PIF” or the “Company”) and for your ongoing trust in Morgan Stanley Private Credit. We are writing to provide an update on the Company and the outcome of its most recent quarterly unit repurchase offer. In connection with the second quarter repurchase offer, the Company received repurchase requests representing approximately 11.6%(1) of units outstanding as of March 31, 2026. Consistent with the prior quarter and as disclosed in the Company’s offer to purchase, 5.0% of outstanding units(2) will be accepted for repurchase on a prorated basis, at a price equal to the net asset value (“NAV”) per unit as of June 30, 2026, with approximately 43.0%(3) of each investor’s tender request fulfilled. Notably, the Company observed that over half of repurchase requests received in the second quarter were attributable to unitholders whose previous repurchase requests were prorated during the first quarter. We believe that both the composition as well as the stabil…
Open exhibit ↗Current Report · Items 3.02, 7.01, 9.01 · 8-K
North Haven Private Income Fund LLC
Unregistered Sales of Equity Securities · Regulation FD Disclosure
Item 3.02. Unregistered Sales of Equity Securities. As of June 1, 2026, North Haven Private Income Fund LLC (“we”, the “Company” or the “Fund”), sold approximately 338,864 of the Company’s Class S units (the “Units”) for an aggregate offering price of approximately $6.12 million, reflecting a purchase price of $18.06 per unit (with the final number of Units being determined on June 22, 2026).…
Disclosure sections
Item 3.02Item 3.02 - Unregistered Sales of Equity
Item 3.02. Unregistered Sales of Equity Securities.
As of June 1, 2026, North Haven Private Income Fund LLC (“we”, the “Company” or the “Fund”), sold approximately 338,864 of the Company’s Class S units (the “Units”) for an aggregate offering price of approximately $6.12 million, reflecting a purchase price of $18.06 per unit (with the final number of Units being determined on June 22, 2026).
The sale of Units was made pursuant to subscription agreements entered into by the Company and its unitholders. The issuance of the Units is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Section 4(a)(2) thereof and Regulation D thereunder. The Company relied, in part, upon representations from the unitholders in the subscription agreements that each unitholder was an accredited investor as defined in Regulation D under the Securities Act.
Item 7.01Item 7.01 - Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.
On June 23, 2026, the Company disclosed the below information.
Distribution:
On June 22, 2026, the Fund declared a distribution to unitholders of record in the amount of $0.1208 per unit. The distribution will be payable on or around July 6, 2026 to unitholders of record as of June 30, 2026.
On June 22, 2026, the Fund declared a special distribution to unitholders of record in the amount of $0.0205 per unit. The distribution will be payable on or around July 6, 2026 to unitholders of record as of June 30, 2026.
Company's Portfolio:
As of May 31, 2026, the Company had investments in 301 portfolio companies across 45 industries with an aggregate par value of approximately $7,048.4 million, which consisted of approximately 96.8% first lien debt investments, approximately 0.3% second lien debt investments and approximately 2.9% other securities and investment funds, based on par value or, in the case of equity investments, cost. As of May 31, 2026, approximately 99.9% of the debt investments, based on par value, in the Company's portfolio were at floating rates. As of May 31, 2026, approximately 94.5% of the Company’s total investment commitments were in private senior secured loans, equity investments and investments in joint ventures and approximately 5.5% were in broadly syndicated loans, which the Company primarily uses for cash management purposes.
During the period from May 1, 2026 through May 31, 2026, the Company had new investment commitments of approximately $24.0 million, approximately 100.0% of which were private senior secured loans.
The table below describes investments by industry composition based on par value or, in the case of equity investments, cost as of May 31, 2026:
Industry Par or Cost % of Total
($ in millions)
───────────────────────────────────────────────────────────────────────────────────────
Software $1,598.7 22.7%
Insurance Services 645.7 9.2
Commercial Services & Supplies 604.9 8.6
Health Care Providers & Services 465.5 6.6
IT Services 421.7 6.0
Professional Services 394.0 5.6
Diversified Consumer Services 373.4 5.3
Electronic Equipment, Instruments & Components 271.3 3.9
Financial Services 183.4 2.6
Real Estate Management & Development 173.6 2.5
Others 1,916.2 27.0
Total $7,048.4 100.0%
The table below shows the Company's ten largest portfolio company investments based on par value or, in the case of equity investments, cost as of May 31, 2026:
Issuer Par or Cost % of Total
($ in millions)
─────────────────────────────────────────────────────────────────────────────
Integrity Marketing Acquisition, LLC $113.2 1.6%
North Haven Keystone LLC 110.4 1.6
World Insurance Associates, LLC 100.8 1.4
Redwood Services Group, LLC 90.6 1.3
VRC Companies, LLC 88.2 1.3
Granicus, Inc 87.3 1.2
Apex Service Partners, LLC 86.9 1.2
Aptean, Inc 83.4 1.2
MRI Software, LLC 80.8 1.1
Diligent Corporation 80.3 1.1
Others 6,126.5 87.0
Total $7,048.4 100.0%
Net Asset Value:
As of May 31, 2026, the Company's aggregate Net Asset Value ("NAV") is estimated to be approximately $3,259.7 million. As of May 31, 2026, the Company had approximately $3,165.2 million of debt outstanding (at principal). This estimate of the Company's NAV did not and will not undergo the Company's customary quarter-end financial closing procedures and may differ materially from future estimates of net asset value or net asset value determinations, including the determination as of June 30, 2026, which will undergo the Company’s customary quarter-end financial closing procedures.