The fund will fulfill only 43% of the requests submitted for the second quarter. Roughly half of these withdrawal demands originated from investors who failed to liquidate their positions during the first quarter, highlighting a persistent inability to exit the fund. After accounting for new subscriptions and dividend reinvestments, the firm reported a net asset value decline of approximately $102 million, representing a 3.2% reduction from its March 31 valuation.

A similar trend is unfolding at the affiliated North Haven Private Income Fund A, which faced redemption requests totaling 7.2% of its shares but committed to honoring only 5%. These constraints arrive as the private credit market grapples with historic outflows. Major players including Apollo Global, Blackstone, and BlackRock have also implemented withdrawal caps, signaling that the instability currently gripping the industry is far from resolved.