Morgan Stanley is capping third-quarter withdrawals from its $7 billion North Haven Private Income Fund. The firm limited redemptions to 5% of shares. Investors requested to pull 11.4% of shares, a demand level similar to the previous quarter.
This marks the third consecutive quarter the fund has restricted redemptions. Total repurchases across these three periods are expected to reach approximately $479 million.
The move highlights a sustained investor push to exit the $1.8 trillion private credit market. Morgan Stanley joins peers like Blackstone and BlackRock in managing a backlog of withdrawal requests.