[Morgan Stanley Restricts Redemptions from a Private Credit Fund] According to a report by Jinse Finance, Morgan Stanley has restricted redemptions from one of its private credit funds, with investors receiving only about half of the amount they requested to redeem. According to a letter to clients, the North Haven Private Income Fund (with a size of approximately $8 billion) redeemed only about $169 million this quarter, fulfilling just 46% of investors' redemption requests for the first quarter. The fund has capped quarterly redemptions at 5% of outstanding shares, while investors requested to redeem approximately 11% of shares. In the letter, Morgan Stanley explained that setting the quarterly redemption limit at 5% "helps optimize the portfolio and aligns with the long-term goal of maximizing risk-adjusted returns for investors." Morgan Stanley also highlighted challenges in the private credit sector, such as declining asset yields and uncertainties in the M&A environment, but expects some of these pressures to ease soon. As of January 31, the fund had more than $2.2 billion in available liquidity.