# EDGAR Filing Document

**Accession Number:** 0001788420
**File Stem:** 0001797062-25-000006
**Filing Date:** 2025-11
**Character Count:** 6922
**Document Hash:** 10631de91ff8b1d41a5610a3ef457647
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001797062-25-000006.hdr.sgml**: 20251119

**ACCESSION NUMBER**: 0001797062-25-000006

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251101

**FILED AS OF DATE**: 20251119

**DATE AS OF CHANGE**: 20251119

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Allen Brad
- **CENTRAL INDEX KEY:** 0001797062

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 811-23482
- **FILM NUMBER:** 251498157

**MAIL ADDRESS:**
- **STREET 1:** C/O UMB FUND SERVICES, INC.
- **STREET 2:** 235 W GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Keystone Private Income Fund
- **CENTRAL INDEX KEY:** 0001788420

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**BUSINESS ADDRESS:**
- **STREET 1:** C/O UMB FUND SERVICES, INC.
- **STREET 2:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
- **BUSINESS PHONE:** 414-299-2000

**MAIL ADDRESS:**
- **STREET 1:** C/O UMB FUND SERVICES, INC.
- **STREET 2:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Allen Brad<br><sub>(Last) (First) (Middle)</sub><br>C/O UMB FUND SERVICES, INC.<br>235 W GALENA STREET<br><sub>(Street)</sub><br>MILWAUKEE, WI 53212<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-11-01 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Treasurer_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Keystone Private Income Fund [ N/A ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class Z Shares | 2025-11-01<sup>(1)</sup> |  | P |  | 5062.778 | A | $98.76 | 50732.024<sup>(2)</sup> | I | By Hallein Holdings LLC |
| Class Z Shares |  |  |  |  |  |  |  | 2239.018<sup>(3)</sup> | D |  |
| Class Z Shares |  |  |  |  |  |  |  | 2496.267<sup>(4)</sup> | I | By Spouse |
| Class Z Shares |  |  |  |  |  |  |  | 411.959<sup>(5)</sup> | I | By Son |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) Subscription of the Shares was dated November 1, 2025, with NAV per share pricing as of November 1, 2025, which was finalized on November 17, 2025.

(2) Includes 1455.706 Class Z Shares acquired pursuant to the Issuer's dividend reinvestment plan from September 18, 2025 through the date of this report. Mr. Allen disclaims beneficial ownership of Shares held by Hallein Holdings LLC except to the extent of his pecuniary interest therein.

(3) Includes 75.847 Class Z Shares acquired pursuant to the Issuer's dividend reinvestment plan from September 18, 2025 through the date of this report.

(4) Includes 84.561 Class Z Shares acquired pursuant to the Issuer's dividend reinvestment plan from September 18, 2025 through the date of this report.

(5) Includes 6.649 Class Z Shares acquired pursuant to the Issuer's dividend reinvestment plan from September 18, 2025 through the date of this report. Mr. Allen disclaims beneficial ownership of these Shares, and this report shall not be deemed an admission that Mr. Allen is the beneficial owner of such Shares for purpose of Section 16 or for any other purpose.

**Signature:** /s/ Brad Allen  
**Date:** 2025-11-19

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**