ORGANIZATION	6 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	1. ORGANIZATION PennantPark Private Income Fund (the “Company”) was organized as a Delaware statutory trust on April 24, 2025, and commenced operations on September 16, 2025. The Company is a closed-end, externally managed, non-diversified investment company that has elected to be treated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). On October 10, 2025, the Company filed a registration statement on Form 10 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), to register its securities pursuant to Section 12(g) of the Exchange Act. The Company’s investment objective is to generate both current income and capital appreciation while seeking to preserve capital. The Company seeks to achieve its investment objective by investing primarily in senior secured debt of U.S. middle-market companies with last twelve-month earnings of between $10 million and $50 million, and to a lesser extent, second lien secured debt, subordinated debt and equity investments. On September 16, 2025, the Company entered into an investment advisory management agreement (the “Investment Management Agreement”) with PennantPark Investment Advisers, LLC (“PPIA”). On October 17, 2025, the Company’s board of trustees approved the assignment of the Investment Management Agreement to PennantPark Private Income Fund Advisers LLC, a wholly-owned subsidiary of PPIA (the “Investment Adviser”). The Investment Management Agreement was reapproved by the board of trustees in May 2026. On October 17, 2025, the Company entered into an administration agreement (the “Administration Agreement”) with PennantPark Investment Administration, LLC (the “Administrator”) to serve as the Company’s administrator. The Administration Agreement was reapproved by the board of trustees in May 2026. PennantPark Private Income Fund SPV LLC (the “SPV”) is a wholly-owned financing subsidiary of the Company organized in Delaware as a limited liability company on August 26, 2025. The Company formed the SPV in order to establish the Credit Facility. See Note 8. PPIF Investment Holdings LLC (“Holdings”) is a wholly-owned subsidiary of the Company organized in Delaware as a limited liability company on October 7, 2025. Holdings invests in equity securities of certain portfolio companies treated as pass-through entities for U.S. federal income tax purposes. The Company has offered and intends to continue to offer and sell its ("Common Shares") in a private placement in the United States under the exemption provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”) and Regulation D promulgated thereunder, Regulation S under the Securities Act and other exemptions from the registration requirements of the Securities Act (the “Private Offering”). Investors who acquire shares in our private placement are required to complete, execute and deliver a subscription agreement (a “Subscription Agreement”), and related documentation, which include customary representations and warranties, certain covenants and restrictions and indemnification provisions.

ORGANIZATION

6 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

1. ORGANIZATION

PennantPark Private Income Fund (the “Company”) was organized as a Delaware statutory trust on April 24, 2025, and commenced operations on September 16, 2025. The Company is a closed-end, externally managed, non-diversified investment company that has elected to be treated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). On October 10, 2025, the Company filed a registration statement on Form 10 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), to register its securities pursuant to Section 12(g) of the Exchange Act.

The Company’s investment objective is to generate both current income and capital appreciation while seeking to preserve capital. The Company seeks to achieve its investment objective by investing primarily in senior secured debt of U.S. middle-market companies with last twelve-month earnings of between $10 million and $50 million, and to a lesser extent, second lien secured debt, subordinated debt and equity investments.

On September 16, 2025, the Company entered into an investment advisory management agreement (the “Investment Management Agreement”) with PennantPark Investment Advisers, LLC (“PPIA”). On October 17, 2025, the Company’s board of trustees approved the assignment of the Investment Management Agreement to PennantPark Private Income Fund Advisers LLC, a wholly-owned subsidiary of PPIA (the “Investment Adviser”). The Investment Management Agreement was reapproved by the board of trustees in May 2026.

On October 17, 2025, the Company entered into an administration agreement (the “Administration Agreement”) with PennantPark Investment Administration, LLC (the “Administrator”) to serve as the Company’s administrator. The Administration Agreement was reapproved by the board of trustees in May 2026.

PennantPark Private Income Fund SPV LLC (the “SPV”) is a wholly-owned financing subsidiary of the Company organized in Delaware as a limited liability company on August 26, 2025. The Company formed the SPV in order to establish the Credit Facility. See Note 8.

PPIF Investment Holdings LLC (“Holdings”) is a wholly-owned subsidiary of the Company organized in Delaware as a limited liability company on October 7, 2025. Holdings invests in equity securities of certain portfolio companies treated as pass-through entities for U.S. federal income tax purposes.

The Company has offered and intends to continue to offer and sell its ("Common Shares") in a private placement in the United States under the exemption provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”) and Regulation D promulgated thereunder, Regulation S under the Securities Act and other exemptions from the registration requirements of the Securities Act (the “Private Offering”). Investors who acquire shares in our private placement are required to complete, execute and deliver a subscription agreement (a “Subscription Agreement”), and related documentation, which include customary representations and warranties, certain covenants and restrictions and indemnification provisions.