Private Credit Portfolio Analysis | North Haven Private Income Fund Reports Q1 2025 Results
- Editor
- May 12
- 2 min read
Whats New:
North Haven Private Income Fund LLC reported its Q1 2025 financial results, showing growth in assets and stockholders' equity compared to the previous quarter. The fund's total assets increased to $6.62 billion as of March 31, 2025, up from $6.41 billion at the end of 2024. The net asset value per share decreased slightly to $18.82 from $18.96 at the end of the previous quarter.
Portfolio Dynamics:
Total assets grew to $6.62 billion as of March 31, 2025, compared to $6.41 billion at the end of 2024.
Investments owned at fair value increased to $6.31 billion, up from $6.08 billion at the end of 2024.
Cash and cash equivalents rose to $230.29 million from $218.00 million at the end of 2024.
Investment Activity:
Receivable from investment sales decreased to $2.82 million from $15.47 million at the end of 2024.
The fund reported $9.24 million in prepaid expenses and other assets, up from $2.20 million at the end of 2024.
Payable for investment purchases increased to $103.73 million from $47.89 million at the end of 2024.
Capital Structure:
Long-term debt increased to $2.90 billion from $2.86 billion at the end of 2024.
Stockholders' equity grew to $3.41 billion from $3.27 billion at the end of 2024.
The fund issued additional common stock, with the value increasing to $181 million from $173 million at the end of 2024.
Performance Profile:
Net asset value per share decreased to $18.82 as of March 31, 2025, compared to $18.96 at the end of 2024.
Retained earnings deficit increased to $77.49 million from $50.46 million at the end of 2024.
Additional paid-in capital increased to $3.49 billion from $3.32 billion at the end of 2024.
Risk & Quality:
The fund reported an incentive fee payable for income of $7.61 million, down from $8.40 million at the end of 2024.
Management fee payable decreased to $6.54 million from $7.34 million at the end of 2024.
Interest and financing costs payable decreased to $28.72 million from $53.85 million at the end of 2024.
The Wrap:
North Haven Private Income Fund demonstrated growth in Q1 2025, with increases in total assets, investments at fair value, and stockholders' equity. However, the fund's net asset value per share slightly decreased. The fund's increased long-term debt and higher payables for investment purchases suggest expanded investment activities, while decreased management and incentive fees payable indicate potential changes in fund performance or fee structures.
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