MS · News · 20260921N

Private Credit Redemption Pressure

MORGAN STANLEY · 2026-09-21 · Importance 45 · Surprise 50

Investors in Morgan Stanley’s North Haven Private Income Fund requested redemptions equal to 11.4% of shares, more than double the 5% amount the fund plans to repurchase. The redemption request was modestly below the prior quarter’s 11.6%, with some demand coming from investors previously unable to exit fully. The development highlights liquidity and asset-quality concerns affecting private-credit funds.

Key facts

• Redemption requests for Morgan Stanley's North Haven Private Income Fund of 11.4% are slightly down from the previous quarter's 11.6%. source
• Morgan Stanley said a significant portion of the North Haven Private Income Fund redemption requests came from investors who were previously unable to fully exit. source