North Haven Private Income Fund LLC Enters Into Merger Agreement With North Haven Private Income Fund A LLC
Key Highlights
- ➤PIF agrees to merge with PIF A through NAV-for-NAV Class I unit exchange
- ➤Management fee falls from 1.25% to 1.00%, effective January 1, 2027
- ➤Combined PIF expected to hold $6.6 billion across approximately 312 companies
- ➤Merger expected to close in December 2026, subject to regulatory approvals
- ➤PIF A’s portfolio commitments overlap approximately 99% with PIF’s pro forma
Expert Statements
Michael Occi, Chief Executive Officer of North Haven Private Income Fund LLC and North Haven Private Income Fund A LLC
“we are pleased with the Companies’ performance and believe the Merger will create value for investors, including through a reduced management fee. The Merger advances our long-standing strategic vision and better positions PIF to capitalize on the strength of the Morgan Stanley platform to scale further in the marketplace.”
North Haven Private Income Fund LLC Enters Into Merger Agreement With North Haven Private Income Fund A LLC
North Haven Private Income Fund LLC (“PIF”) and North Haven Private Income Fund A LLC (“PIF A” and each of PIF and PIF A, a “Company” and together, the “Companies”), each a business development company externally managed by MS Capital Partners Adviser Inc. (the “Adviser”), announced today that PIF has entered into a merger agreement with PIF A (the “Merger Agreement”), pursuant to which PIF A would merge with and into PIF (the “Merger”) with Class I unitholders of PIF A receiving newly issued Class I Units of PIF based on a NAV-for-NAV exchange ratio.
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