[Morgan Stanley Private Credit Fund Sets Redemption Cap at 5%] According to a report by Golden Finance, on June 24, Morgan Stanley (MS.N) set a redemption cap of 5% for one of its $7 billion private credit funds, allowing investors to redeem less than half of the shares they applied to withdraw for the second quarter. The 'North Haven Private Income Fund' stated in a letter on Tuesday that investors applied to redeem 11.6% of their holdings in the second quarter, up from 10.9% in the first quarter. In the approximately $1.8 trillion private credit market, overall redemption requests have risen this quarter as many funds had already restricted full exits in the previous quarter. The fund noted in the letter that more than half of the buyback requests in the second quarter came from investors who were unable to fully redeem their funds in the prior three months.