North Haven Private Income Fund LLC is a private, perpetual-life BDC managed by MS Capital Partners Adviser Inc., part of Morgan Stanley's private credit platform. It seeks attractive risk-adjusted returns through current income and, to a lesser extent, capital appreciation by lending primarily to U.S. middle-market companies controlled by private equity sponsors. The portfolio is mainly directly originated, floating rate first lien senior secured loans, including unitranche, with small second lien, equity and joint venture positions. The Fund also holds traded and broadly syndicated loans for cash management and to help fund unit repurchases, and uses borrowings to magnify returns.