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North Haven Private Income Fund A LLC·8-K

Feb 26, 4:29 PM ET

North Haven Private Income Fund A LLC 8-K

Research Summary

AI-generated summary

Updated

North Haven Private Income Fund A LLC Reports Unit Sale, Declares Distribution

What Happened

  • North Haven Private Income Fund A LLC filed an 8‑K reporting two material items. First, as of February 1, 2026 (final unit count determined Feb 23, 2026), the Fund sold approximately 706,441 Class I units for an aggregate $14.2 million (purchase price $20.10 per unit) in private subscriptions exempt from registration under Section 4(a)(2) and Regulation D. Purchasers represented they are accredited investors.
  • Second, on February 23, 2026 the Fund declared a distribution of $0.1419 per unit payable on or around March 4, 2026 to unitholders of record as of February 28, 2026. The 8‑K also provided a portfolio update as of January 31, 2026.

Key Details

  • Unregistered unit sale: ~706,441 Class I units for ~$14.2 million; $20.10 per unit; final unit count set Feb 23, 2026.
  • Distribution: $0.1419 per unit declared Feb 23, 2026; payable ~Mar 4, 2026; record date Feb 28, 2026.
  • Portfolio (as of Jan 31, 2026): 183 portfolio companies across 39 industries; aggregate par/cost ~$735.5 million; ~99.8% first‑lien debt; ~99.9% of debt investments floating rate.
  • Net asset value estimate: aggregate NAV ≈ $305.2 million as of Jan 31, 2026; total debt outstanding (principal) ≈ $302.1 million. NAV is preliminary and hasn’t completed quarter‑end closing procedures.

Why It Matters

  • Capital raise and cash return: The private sale of Class I units raised roughly $14.2 million of capital, while the declared $0.1419/unit distribution provides an immediate cash return to unitholders.
  • Portfolio and interest‑rate sensitivity: The portfolio is heavily weighted to first‑lien, floating‑rate debt (nearly all debt investments), meaning income will move with market rates — important for income expectations.
  • NAV context and leverage: The preliminary NAV ($305.2M) is close to outstanding principal debt ($302.1M); investors should note the NAV is an estimate pending quarter‑end close and may change.
  • Regulatory note: The unit sale was completed under private‑placement exemptions (Regulation D/Section 4(a)(2)) relying on accredited investor representations, not a registered public offering.