Morgan Stanley Direct Lending Fund (MSDL) Accumulated Expenses (2022 - 2026)

Morgan Stanley Direct Lending Fund (MSDL) has 5 years of Accumulated Expenses data on file, last reported at $24.8 million in Q1 2026.

• Quarterly Accumulated Expenses rose 520.4% year-over-year to $24.8 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $24.8 million (up 520.4% YoY) and the FY2025 annual result came in at $20.9 million, down 1.23% from the prior year.
• Accumulated Expenses rose to $24.8 million in Q1 2026 per MSDL's latest filing, from $20.9 million in the prior quarter.
• Across five years, Accumulated Expenses topped out at $24.8 million in Q1 2026 and bottomed at $3.3 million in Q4 2022.
• The 5-year median for Accumulated Expenses is $4.9 million (2023), against an average of $10.4 million.
• The widest annual swing landed in 2024, when Accumulated Expenses tumbled 62.28%; it then soared 520.4% in 2026.
• Tracing MSDL's Accumulated Expenses over 5 years: stood at $3.3 million in 2022, then rose by 25.2% to $4.1 million in 2023, then jumped by 416.69% to $21.2 million in 2024, then declined by 1.23% to $20.9 million in 2025, then advanced by 18.63% to $24.8 million in 2026.
• Per Business Quant, the three latest MSDL Accumulated Expenses figures stand at $24.8 million (Q1 2026), $20.9 million (Q4 2025), and $3.5 million (Q3 2025).

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