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In a recent filing with the Securities and Exchange Commission, North Haven Private Income Fund A LLC, a $193 million market cap company with an impressive 84.6% gross profit margin according to InvestingPro data, announced the appointment of Michael Occi as the President of the company, effective January 1, 2025. Occi, 40, will succeed Jeffrey S. Levin, who has held the position since 2019 and will continue to serve as the company's Chief Executive Officer.
Occi has been with Morgan Stanley (NYSE:MS) since 2006 and has been a Managing Director at Morgan Stanley Investment Management since April 2022. He has previously served as Chief Administrative Officer of North Haven Private Income Fund A LLC since January 2023 and will step down from this role upon assuming his new position.
In addition to his role at North Haven, Occi will also become the President of several other business development companies associated with the same investment adviser, including Morgan Stanley Direct Lending Fund and LGAM Private Credit LLC.
The filing notes that Occi holds a BA in Finance and Accounting from Georgetown University, where he graduated magna cum laude. His extensive experience includes serving as Head of Financial Institutions Equity Capital Markets and holding various roles within Equity Capital Markets, Fixed Income Capital Markets, and the Investment Banking Division.
The company's disclosure clarifies that Occi has no family relationships with any current directors or executive officers of the company and is not involved in any material transactions with the company that would require disclosure under SEC regulations.
This leadership change comes as part of the company's ongoing management and strategic development. The announcement was made in compliance with SEC requirements and underscores the company's commitment to transparency and governance.
With a healthy current ratio of 1.82 and a notable dividend yield of 6.5%, InvestingPro analysis suggests the company is currently trading below its Fair Value, presenting a potential opportunity for investors. Additional insights and detailed financial metrics are available through InvestingPro's comprehensive analysis platform.
The information for this article is based on a press release statement from North Haven Private Income Fund A LLC.
In other recent news, North Haven Private Income Fund LLC has named Michael Occi as its new president, succeeding Jeffrey S. Levin who will continue as the company's CEO. Occi's appointment, effective January 1, 2025, comes as part of the company's ongoing executive team adjustments. The recent SEC filing also indicates that Occi will assume presidency of several other business development companies affiliated with Morgan Stanley.
In parallel, Polaris (NYSE:PII) Renewable Energy Inc. reported a decrease in Q3 2024 revenue and power generation, falling to 168,639 MWh and $17.7 million respectively. Despite this, the company announced a quarterly dividend of $0.15 per share and revealed future growth prospects, including the acquisition of the Punta Lima wind farm and a new contract for the Vista Hermosa plant in Panama. Net earnings attributed to owners were reported at $480,000, a decrease from the prior year, and Adjusted EBITDA also fell to $12.4 million.
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