Morgan Stanley Direct Lending Fund (MSDL) Asset Utilization Ratio (2023 - 2026)
Morgan Stanley Direct Lending Fund (MSDL) reported Asset Utilization Ratio of 0.1 for Q1 2026, down 7.07% year-over-year from 0.11 in Q1 2025, and down 1.78% on a QoQ basis from 0.1 in Q4 2025.
Morgan Stanley Direct Lending Fund (MSDL) has 4 years of Asset Utilization Ratio data on file, last reported at 0.1 in Q1 2026.
- Quarterly Asset Utilization Ratio fell 7.07% year-over-year to 0.1 in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 0.1 (down 7.07% YoY) and the FY2025 annual result came in at 0.1, down 11.99% from the prior year.
- Asset Utilization Ratio retreated to 0.1 in Q1 2026 per MSDL's latest filing, from 0.1 in the prior quarter.
- Across five years, Asset Utilization Ratio topped out at 0.11 in Q1 2024 and bottomed at 0.09 in Q1 2023.
- The 4-year median for Asset Utilization Ratio is 0.11 (2025), against an average of 0.1.
- The widest annual swing landed in 2024, when Asset Utilization Ratio grew 27.83%; it then retreated 7.46% in 2025.
- Tracing MSDL's Asset Utilization Ratio over 4 years: stood at 0.11 in 2023, then decreased by 1.26% to 0.11 in 2024, then retreated by 6.3% to 0.1 in 2025, then fell by 1.78% to 0.1 in 2026.
- Per Business Quant, the three latest MSDL Asset Utilization Ratio figures stand at 0.1 (Q1 2026), 0.1 (Q4 2025), and 0.1 (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Asset Util. (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 158.51 Bn | 148.89 Bn | - | 0.15 |
| 2 | Blackstone | 92.68 Bn | 91.63 Bn | - | 0.31 |
| 3 | Kkr | 84.94 Bn | 132.45 Bn | - | 0.00 |
| 4 | Brookfield Asset Management | 77.34 Bn | 77.68 Bn | - | 0.29 |
| 5 | Apollo Global Management | 76.27 Bn | 95.00 Bn | 5.04 Bn | 0.00 |
| 6 | State Street | 44.42 Bn | 18.75 Bn | - | 0.04 |
| 7 | Ameriprise Financial | 41.68 Bn | 41.55 Bn | 4.57 Bn | 0.10 |
| 8 | Northern Trust | 31.21 Bn | 31.21 Bn | - | 0.03 |
| 9 | Ares Management | 28.85 Bn | 32.22 Bn | - | 0.21 |
| 10 | Morgan Stanley Direct Lending Fund | - | - | - | 0.10 |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 0.10 |
| Dec 31, 2025 | 0.10 |
| Sep 30, 2025 | 0.10 |
| Jun 30, 2025 | 0.11 |
| Mar 31, 2025 | 0.11 |
| Dec 31, 2024 | 0.11 |
| Sep 30, 2024 | 0.11 |
| Jun 30, 2024 | 0.11 |
| Mar 31, 2024 | 0.11 |
| Dec 31, 2023 | 0.11 |
| Sep 30, 2023 | 0.10 |
| Jun 30, 2023 | 0.10 |
| Mar 31, 2023 | 0.09 |