North Haven Private Income Fund Files 8-K
Sentiment: neutral
Topics: unregistered-sales, regulation-fd, disclosure
TL;DR
North Haven Private Income Fund A LLC filed an 8-K on Nov 25, 2024, for unregistered equity sales & Reg FD disclosure.
AI Summary
North Haven Private Income Fund A LLC filed an 8-K on November 29, 2024, reporting unregistered sales of equity securities and a Regulation FD disclosure. The earliest event reported was on November 25, 2024. The company is incorporated in Delaware and its principal executive offices are located at 1585 Broadway, New York, NY.
Why It Matters
This filing indicates potential unregistered equity sales and a disclosure under Regulation FD, which could impact how investors receive information about the company.
Risk Assessment
Risk Level: low — The filing is a standard 8-K for unregistered sales and disclosures, not indicating immediate financial distress or significant operational changes.
Key Players & Entities
- North Haven Private Income Fund A LLC (company) — Registrant
- November 25, 2024 (date) — Earliest event reported
- November 29, 2024 (date) — Filing date
- Delaware (jurisdiction) — State of incorporation
- 1585 Broadway, New York, NY 10036 (address) — Principal executive offices
FAQ
What type of securities were sold unregistered?
The filing does not specify the type of equity securities sold unregistered.
What is the purpose of the Regulation FD disclosure?
The filing does not detail the specific purpose or content of the Regulation FD disclosure.
When was North Haven Private Income Fund A LLC incorporated?
North Haven Private Income Fund A LLC was incorporated in Delaware.
What is the IRS Employer Identification Number for the company?
The IRS Employer Identification Number for North Haven Private Income Fund A LLC is 92-1385301.
What is the phone number for the company's principal executive offices?
The telephone number for North Haven Private Income Fund A LLC's principal executive offices is (212) 761-4000.
Filing Stats: 1,001 words · 4 min read · ~3 pages · Grade level 9.3 · Accepted 2024-11-29 10:54:11
Key Financial Figures
- $19.7 m — gregate offering price of approximately $19.7 million, reflecting a purchase price of $
- $20.29 — million, reflecting a purchase price of $20.29 per unit (with the final number of Unit
- $0.1600 — unitholders of record in the amount of $0.1600 per unit, representing an annualized di
- $281.4 m — an aggregate par value of approximately $281.4 million, which consisted of approximately
- $9.5 m — investment commitments of approximately $9.5 million, approximately 100.0% of which we
- $156.9 million — value is estimated to be approximately $156.9 million. As of October 31, 2024, the Company ha
- $77.1 million — As of October 31, 2024, the Company had $77.1 million of debt outstanding (at principal). Thi
Filing Documents
- pif-20241125.htm (8-K) — 71KB
- 0001973476-24-000102.txt ( ) — 193KB
- pif-20241125.xsd (EX-101.SCH) — 2KB
- pif-20241125_lab.xml (EX-101.LAB) — 21KB
- pif-20241125_pre.xml (EX-101.PRE) — 12KB
- pif-20241125_htm.xml (XML) — 3KB
02. Unregistered Sales of Equity Securities
Item 3.02. Unregistered Sales of Equity Securities. As of November 1, 2024, North Haven Private Income Fund A LLC ("we", the "Company" or the "Fund"), sold approximately 972,291 of the Company's Class I units (the "Units") for an aggregate offering price of approximately $19.7 million, reflecting a purchase price of $20.29 per unit (with the final number of Units being determined on November 25, 2024). The sale of Units was made pursuant to subscription agreements entered into by the Company and its unitholders. The issuance of the Units is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to Section 4(a)(2) thereof and Regulation D thereunder. The Company relied, in part, upon representations from the unitholders in the subscription agreements that each unitholder was an accredited investor as defined in Regulation D under the Securities Act.
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On November 29, 2024, the Company disclosed the below information. Distribution: On November 25, 2024, the Fund declared a distribution to unitholders of record in the amount of $0.1600 per unit, representing an annualized distribution yield of approximately 9.5%. Annualized distribution yield is calculated by dividing the declared distribution by the prior month's net asset value and annualizing over 12 monthly periods. The distribution will be payable on or around December 4, 2024 to unitholders of record as of November 29, 2024. Company's Portfolio: As of October 31, 2024, the Company had investments in 112 portfolio companies across 34 industries with an aggregate par value of approximately $281.4 million, which consisted of approximately 99.7% first lien debt investments and approximately 0.3% other securities, based on par value or, in the case of equity investments, cost. As of October 31, 2024, 99.8% of the debt investments, based on par value, in the Company's portfolio were at floating rates. As of October 31, 2024, approximately 93.5% of the Company's total investment commitments were in private senior secured loans and equity investments and approximately 6.5% were in broadly syndicated loans, which the Company primarily uses for cash management purposes. During the period from October 1, 2024 through October 31, 2024, the Company had new investment commitments of approximately $9.5 million, approximately 100.0% of which were private senior secured loans . The table below describes investments by industry composition based on par value or, in the case of equity investments, cost as of October 31, 2024: Industry Par or Cost ($ in millions) % of Total Software $ 56.4 20.0 % Commercial Services & Supplies 37.1 13.2 Insurance Services 25.2 9.0 Diversified Consumer Services 20.3 7.2 Professional Services 14.3 5.1 IT Services 12.9 4.6 Health Care Providers & Services 12.2 4.3 Automobiles 10.4 3.7 Financ