Mar. 12 at 5:41 PM
Morgan Stanley capped investor withdrawals from its
$7.6 billion North Haven Private Income Fund at 5% after receiving redemption requests for 10.9% of shares, reflecting rising caution among investors toward private credit funds. The firm said the limit is intended to avoid forced asset sales during periods of market stress and preserve capital stability.
The move follows similar withdrawal limits by Blue Owl Capital and BlackRock, highlighting broader pressure in the private credit industry amid concerns about weakening loan values and tighter financing conditions. Alternative asset manager stocks declined following the news, including Ares Management and Blackstone, as investors weigh risks to the sector despite hopes that credit-market conditions may eventually stabilize.
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