07:08 AM EDT, 03/12/2026 (MT Newswires) -- Morgan Stanley ( MS ) said in a letter to investors that the North Haven Private Income Fund returned about $169 million, or roughly 46% of each investor's tender request in Q1, a regulatory filing showed Wednesday.

The banking giant completed its quarterly tender offer for Q1, and it received investor requests to buy back about 11% of its outstanding shares, the company said in the letter.

North Haven capped redemptions at 5% of shares and plans to offer it on a quarterly basis, Morgan Stanley ( MS ) said, adding that by "maintaining appropriate limits" on the quarterly repurchase, it intends to "avoid" sale of its assets when there is market dislocation.

Morgan Stanley ( MS ) shares were down 2.3% in Thursday premarket activity.