Private company

North Haven Private Income Fund A LLC

Investment fund based in New York, United States1

In its 2026 annual report the company says: “We are a non-diversified, externally managed specialty finance company focused on lending to middle-market companies. We have elected to be regulated as a BDC under the Investment Company Act of 1940, as amended. In addition, for U.S. federal income tax purposes, we have elected to be treated, and intend to comply with the requirements to qualify annually, as a RIC under Subchapter M of the Code.”4

Last updated Oct 20, 2026.

Overview

  • HeadquartersNew York, New York1
  • Incorporated inDE2
  • Business address1585 Broadway, New York, Ny 100362
  • Filer category, Emerging growth company2
  • Legal formLimited Liability Company
  • Kind of organizationInvestment fund1

See how the biggest companies compare on our leaderboards

We are a non-diversified, externally managed specialty finance company focused on lending to middle-market companies. We have elected to be regulated as a BDC under the Investment Company Act of 1940, as amended (the “1940 Act”). In addition, for U.S. federal income tax purposes, we have elected to be treated, and intend to comply with the requirements to qualify annually, as a RIC under Subchapter M of the Code. We are a private, perpetual-life BDC, which is a BDC whose units are not listed for trading on a stock exchange or other securities market. We use the term “perpetual-life BDC” to describe an investment vehicle of indefinite duration whose units are intended to be sold by us monthly on a continuous basis at a price generally equal to our monthly net asset value per Unit. We are classified as a non-diversified investment company within the meaning of the 1940 Act, which means tha…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income5$22.5M in 2025+1235% since 2023
0$10.0M$20.0M$30.0M2023: $1.7M$1.7M20232024: $12.6M$12.6M2024+645%2025: $22.5M$22.5M2025+79%
Fiscal year20222023202420252026
Interest$713.0K8
Net income$1.7M5$12.6M5$22.5M5
Earnings per share$1.015$2.085$1.775
Earnings per share (diluted)$1.015$2.085$1.775
Shares (weighted, basic)1.7M shares56.0M shares512.7M shares5
Shares (weighted, diluted)1.7M shares56.0M shares512.7M shares5

Compare North Haven Private Income Fund A LLC with another company

Corporate structure

North Haven Private Income Fund A LLC sits at the top of its group. 4 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

  • North Haven Private Income Fund A LLC New York, New York
    • PIF A CA SPV LLC Subsidiary · Delaware, United States
    • PIF A Equity Holdings LLC Subsidiary · Delaware, United States
    • PIF A Financing SPV LLC Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What North Haven Private Income Fund A LLC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$33.7M5 Dec 31, 2025$29.1M5 Dec 31, 2024+15.7%

Properties, in its own words

Our headquarters are located at 1585 Broadway, New York, NY 10036. We do not own any real estate.

Item 2 of the 10-K filed Mar 3, 2026.4

Leadership

Who has led North Haven Private Income Fund A LLC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Jeffrey Levin2023

President

  1. Jeff M. Day2025–now

Chief financial officer

  1. Venugopal Rathi2023
  2. David Pessah2023

Chief operating officer

  1. Orit Mizrachi2023
2025
Board members and other officers (10)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • PIF A CA SPV LLC Delaware3
  • PIF A Equity Holdings LLC Delaware3
  • PIF A Financing SPV LLC Delaware3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Sep 29, 20268-K Executive or director change24
  2. Sep 24, 20268-K Unregistered sale of shares; Regulation FD disclosure25
  3. Aug 25, 20268-K Unregistered sale of shares; Regulation FD disclosure26
  4. Jul 28, 20268-K Unregistered sale of shares; Regulation FD disclosure27
  5. Jun 23, 20268-K Unregistered sale of shares; Regulation FD disclosure28
  6. May 27, 20268-K Unregistered sale of shares; Regulation FD disclosure29
  7. Apr 28, 20268-K Unregistered sale of shares; Regulation FD disclosure30
  8. Mar 25, 20268-K Unregistered sale of shares; Regulation FD disclosure31
  9. Mar 11, 20268-K Regulation FD disclosure32
  10. Feb 26, 20268-K New debt or obligation; Regulation FD disclosure33
  11. Jan 27, 20268-K Unregistered sale of shares; Regulation FD disclosure34
  12. Dec 29, 20258-K Unregistered sale of shares; Regulation FD disclosure35
  13. Sep 11, 2023New chief executive Jeffrey Levin becomes CEO10

Filings

115 filings to the SEC since October 2021: 3 annual reports, 9 quarterly reports, 47 major events, 14 insider forms, 4 private raises, 38 other. The latest 20:

  1. Sep 29, 20268-K EDGAR
  2. Sep 24, 20268-K EDGAR
  3. Sep 18, 2026SC TO-I/A EDGAR
  4. Aug 25, 20268-K EDGAR
  5. Aug 13, 2026SC TO-I EDGAR
  6. Aug 10, 202610-Q EDGAR
  7. Jul 28, 2026SC TO-I/A EDGAR
  8. Jul 28, 20268-K EDGAR
  9. Jun 23, 2026SC TO-I/A EDGAR
  10. Jun 23, 20268-K EDGAR
  11. May 27, 20268-K EDGAR
  12. May 13, 202610-Q EDGAR
  13. May 5, 2026SC TO-I EDGAR
  14. Apr 28, 20268-K EDGAR
  15. Apr 28, 2026SC TO-I/A EDGAR
  16. Apr 1, 2026D/A EDGAR
  17. Mar 25, 20268-K EDGAR
  18. Mar 11, 2026SC TO-I/A EDGAR
  19. Mar 11, 20268-K EDGAR
  20. Mar 3, 202610-K EDGAR

The 115 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Jul 17, 2023Raised $177.6 million in a private offering of equity Form D: 796 investors so far Form D

SEC filer profile

How North Haven Private Income Fund A LLC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARNorth Haven Private Income Fund A LLC1
  • CIK0001973476
  • Employer ID (EIN)92-13853014
  • Filer statusNon-accelerated filer an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Business address1585 Broadway, New York, NY 100361
  • Phone212-761-40001
  • Shares outstanding15,252,441 as of Aug 10, 20267
  • Public float$0 as of Jun 30, 20255
  • AuditorDeloitte & Touche LLP, New York, New York PCAOB ID 34; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJul 13, 20231
  • Filings124 in all: 8-K (47), SC TO-I/A (16), 3 (14), SC TO-I (12), 10-Q (9), 40-APP (4), 40-APP/A (4), 10-K (3)1
    All 17 form types

    40-17G (3), CORRESP (3), D/A (3), 10-12G (1), 10-12G/A (1), 40-17G/A (1), D (1), N-54A (1), UPLOAD (1)

  • Latest filingsAnnual report (10-K) Mar 3, 2026
    Quarterly report (10-Q) Aug 10, 2026
    Latest 8-K (8-K) Sep 29, 2026

Risk factors and legal proceedings

The risks North Haven Private Income Fund A LLC names in Item 1A of its 10-K filed Mar 3, 2026: 77 risks under these headings, as written.4

  • Risks Relating to Our Business and Structure
  • Operating as a BDC imposes numerous constraints on us and significantly reduces our operating flexibility. In addition, if we fail to maintain our status as a BDC, we might be regulated as a closed-end investment company, which would subject us to additional regulatory restrictions.
  • We are subject to risks associated with the current interest rate environment and to the extent we use debt to finance our investments, changes in interest rates will affect our cost of capital and net investment income.
  • We depend upon our Adviser and Administrator for our success and upon their access to the investment professionals and partners of Morgan Stanley and its affiliates.
  • Our business model depends to a significant extent upon strong referral relationships with private equity sponsors. Any inability of the Adviser to maintain or develop these relationships, or the failure of these relationships to generate investment opportunities, could adversely affect our business.
  • The time and resources that individuals associated with our Adviser devote to us may be diverted, and we may face additional competition due to the fact that neither our Adviser nor its affiliates are prohibited from raising money for or managing another entity that makes the same types of investments that we target.
  • We may not replicate the historical results achieved by other entities advised or sponsored by members of the Investment Committee, or by the Adviser or its affiliates.
  • Our financial condition and results of operations depend on our ability to manage future growth effectively.
  • The Adviser may frequently be required to make investment analyses and decisions on an expedited basis in order to take advantage of investment opportunities, and our Adviser may not have knowledge of all circumstances that could impact our investments.
  • There are significant potential conflicts of interest that could affect our investment returns.
  • Conflicts related to obligations the Investment Committee, the Adviser or its affiliates have to other clients and conflicts related to fees and expenses of such other clients.
  • The Investment Committee, the Adviser or its affiliates may, from time to time, possess material non-public information, or may not have access to certain information held by Morgan Stanley, each of which would limit our investment discretion.
The other 66 risks
  • Our incentive fee structure may create incentives for the Adviser that are not fully aligned with the interests of our unitholders and may induce the Adviser to make speculative investments.
  • Conflicts related to other arrangements with the Adviser and its affiliates.
  • The assets of the Company could be considered to be “plan assets” for purposes of ERISA.
  • Our ability to enter into transactions with our affiliates is restricted.
  • The recommendations given to us by our Adviser may differ from those rendered to their other clients.
  • We operate in a highly competitive market for investment opportunities, which could reduce returns and result in losses.
  • We will be subject to corporate-level income tax if we are unable to qualify as a RIC.
  • We may have difficulty paying our required distributions if we recognize income before, or without, receiving cash representing such income.
  • We will need to raise additional capital to grow because we must distribute most of our income.
  • If we are not treated as a “publicly offered regulated investment company,” as defined in the Code, U.S. unitholders that are individuals, trusts or estates will be taxed as though they received a distribution of some of our expenses.
  • Regulations governing our operation as a BDC affect our ability to, and the way in which we, raise additional capital. As a BDC, the necessity of raising additional capital exposes us to risks, including the typical risks associated with leverage.
  • We intend to finance our investments with borrowed money, which will magnify the potential for gain or loss on amounts invested and may increase the risk of investing in us.
  • We are subject to risks associated with the SMBC Facility and any Credit Facility.
  • Any inability to renew, extend or replace the Credit Facilities could adversely impact our liquidity and ability to find new investments or maintain distributions to our unitholders.
  • In addition to regulatory limitations on our ability to raise capital, our financing agreements contain various covenants, which, if not complied with, could accelerate our repayment obligations under such agreements, thereby materially and adversely affecting our liquidity, financial condition, results of operations and ability to pay distributions.
  • Our interests in any subsidiary that enters into a Credit Facility would be subordinated, and we may not receive cash on our equity interests from any such subsidiary.
  • Our ability to sell investments held by any subsidiary that enters into a Credit Facility would be limited.
  • We may enter into reverse repurchase agreements, which are another form of leverage.
  • We may be subject to risks associated with any collateralized loan obligations, or CLOs, we enter into to finance our investments.
  • If we do not invest a sufficient portion of our assets in qualifying assets, we could fail to qualify as a BDC or be precluded from investing according to our current business strategy.
  • Failure to qualify as a BDC would decrease our operating flexibility.
  • The majority of our portfolio investments are recorded at fair value as determined in good faith by our Valuation Designee, under the supervision of our Board of Directors and, as a result, there may be uncertainty as to the value of our portfolio investments.
  • Our Board of Directors may change our investment objective, operating policies and strategies without prior notice or unitholder approval, and we may temporarily deviate from our regular investment strategy.
  • There are risks associated with any potential merger with or purchase of assets of another fund.
  • The Adviser can resign on 60 days’ notice and we may not be able to find a suitable replacement within that time, resulting in a disruption in our operations that could adversely affect our financial condition, business and results of operations.
  • The Administrator can resign on 60 days’ notice, and we may not be able to find a suitable replacement, resulting in a disruption in our operations that could adversely affect our financial condition, business and results of operations.
  • We are a non-diversified investment company within the meaning of the 1940 Act, and therefore we are not limited with respect to the proportion of our assets that may be invested in securities of a single issuer and our portfolio may be concentrated in a limited number of industries.
  • We may be subject to risks associated with our investments in the software industry
  • The liability of each of the Adviser and the Administrator is limited, and we have agreed to indemnify against certain liabilities, which may lead them to act in a riskier manner on our behalf than each would when acting for its own account.
  • We may invest in derivatives or other assets that expose us to certain risks, including market risk, liquidity risk and other risks similar to those associated with the use of leverage.
  • Risks Relating to Our Investments
  • Limitations of investment due diligence expose us to investment risk.
  • Our debt investments may be risky, and we could lose all or part of our investments.
  • Defaults by our portfolio companies will harm our operating results.
  • We may experience fluctuations in our periodic operating results.
  • Economic recessions or downturns could impair our portfolio companies and defaults by our portfolio companies will harm our operating results.
  • Inflation could adversely impact our portfolio companies and our results of our operations.
  • We may hold the debt securities of distressed companies that may enter into bankruptcy proceedings.
  • Our investments in private, middle-market portfolio companies are risky, and you could lose all or part of your investment.
  • Subordinated liens on collateral securing debt investments that we will make to our portfolio companies may be subject to control by senior creditors with first priority liens. If there is a default, the value of the collateral may not be sufficient to repay in full both the first priority creditors and us.
  • Covenant-lite loans may expose us to different risks, including with respect to liquidity, ability to restructure loans, credit risks and less protective loan documentation, than is the case with loans that contain financial maintenance covenants.
  • Our investments in traded bank loans and other liquid debt securities of U.S. corporate issuers could include “covenant-lite” loans, which may expose us to different risks, including with respect to liquidity, price volatility, ability to restructure loans, credit risks and less protective loan documentation, than is the case with loans that contain financial maintenance covenants.
  • The lack of liquidity in our investments may adversely affect our business.
  • Price declines and illiquidity in the corporate debt markets may adversely affect the fair value of our portfolio investments, reducing our net asset value through increased net unrealized depreciation.
  • Our investments in OID and PIK instruments may expose us to investment risk.
  • Our portfolio companies may be unable to repay or refinance outstanding principal on their loans at or prior to maturity.
  • Our portfolio companies may prepay loans, which may reduce our yields if capital returned cannot be invested in transactions with equal or greater expected yields.
  • We may be subject to risks associated with syndicated loans.
  • Our investments in portfolio companies may expose us to environmental risks.
  • We have not yet identified all of the portfolio company investments we will acquire and we may have difficulty sourcing investment opportunities.
  • Our failure to make follow-on investments in our portfolio companies could impair the value of our portfolio.
  • Because we generally do not hold controlling equity interests in our portfolio companies, we may not be able to exercise control over our portfolio companies or to prevent decisions by management of our portfolio companies that could decrease the value of our investments.
  • We may suffer a loss if a portfolio company defaults on a loan and the underlying collateral is not sufficient.
  • We can offer no assurance that portfolio company management will be able to operate their companies in accordance with our expectations.
  • Our portfolio companies may incur debt that ranks equally with, or senior to, our investments in such companies and such portfolio companies may not generate sufficient cash flow to service their debt obligations to us.
  • We may be subject to risks under hedging transactions and may become subject to risks if we invest in foreign securities.
  • We may not realize gains from our equity investments.
  • We may be subject to risks to the extent we provide managerial assistance to our portfolio companies.
  • Risks Relating to an Investment in Our Units
  • Our Units are not listed, and we do not intend to list our Units, on an exchange, nor are our Units quoted through a quotation system. Therefore, our unitholders will have limited liquidity and may not receive a full return of invested capital upon selling their Units or upon liquidation of the Company.
  • There are restrictions on the ability of holders of our Units to transfer Units in excess of the restrictions typically associated with a private offering of securities under Regulation D, Regulation S and other exemptions from registration under the Securities Act, and these restrictions could limit the liquidity of an investment in our Units and the price at which holders may be able to sell their Units.
  • There is a risk that you may not receive distributions or that our distributions may not grow over time and a portion of our distributions may be a return of capital.
  • We have not established any limit on the amount of funds we may use from available sources, such as borrowings, if any, or proceeds from any offering of securities, to fund distributions (which may reduce the amount of capital we ultimately invest in assets).
  • We may in the future determine to issue preferred units, which could adversely affect the value of our Units.
  • Investors will not know the purchase price per unit at the time they submit their subscription agreements and could receive fewer units than anticipated if our Board of Directors determines to increase the offering price to comply with the requirement that we avoid selling units at a net offering price below the net asset value per unit of such class of units.
  • If we are unable to raise substantial funds in our ongoing, continuous “best efforts” offering, we may be limited in the number and type of investments we may make, and the value of your investment in us may be reduced in the event our assets under-perform.
  • We intend, but are not required, to offer to repurchase units on a quarterly basis. As a result, unitholders will have limited opportunities to sell their units.
  • The timing of our repurchase offers pursuant to our unit repurchase program may be at a time that is disadvantageous to our unitholders, and, to the extent you are able to sell your Units under the program, you may not be able to recover the amount of your investment in our Units.

Legal proceedings

The Company, the Adviser and the Administrator may become party to certain lawsuits in the ordinary course of business, including proceedings relating to the enforcement of our rights under contracts with our portfolio companies. Each of the Company, the Adviser, and the Administrator is not currently subject to any material legal proceedings, nor, to our knowledge, is any material legal proceeding threatened against the Company.

The opening of Item 3, Legal Proceedings.4

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35