Morgan Stanley Direct Lending Fund (MSDL) Asset Utilization Ratio (2023 - 2026)
Morgan Stanley Direct Lending Fund (MSDL) posted quarterly 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% quarter-over-quarter from 0.1 in Q4 2025.
Morgan Stanley Direct Lending Fund (MSDL) Asset Utilization Ratio (2023 - 2026) Analysis & Trends
Morgan Stanley Direct Lending Fund (MSDL) has reported Asset Utilization Ratio for 4 consecutive years, with 0.1 the latest figure, recorded in Q1 2026.
- In Q1 2026, Asset Utilization Ratio fell 7.07% year-over-year to 0.1; the TTM figure through Mar 2026 stood at 0.1 (down 7.07% YoY), while the FY2025 annual figure was 0.1, down 11.99% from the prior year.
- Asset Utilization Ratio eased 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.
- Historically, Asset Utilization Ratio has averaged 0.11 across 4 years, with a median of 0.11 in 2025.
- Annual changes were most pronounced in 2024 — Asset Utilization Ratio surged 30.7% — and 2025, when it decreased 9.16%.
- Morgan Stanley Direct Lending Fund's Asset Utilization Ratio stood at 0.11 in 2023, then slipped by 3.33% to 0.11 in 2024, then dropped by 6.3% to 0.1 in 2025, then slipped by 1.78% to 0.1 in 2026.
- Business Quant data shows MSDL's Asset Utilization Ratio at 0.1 in Q1 2026, 0.1 in Q4 2025, and 0.1 in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Asset Util. (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 179.54 Bn | 165.67 Bn | - | 0.16 |
| 2 | Blackstone | 114.83 Bn | 112.32 Bn | - | 0.33 |
| 3 | Kkr | 97.26 Bn | -179.81 Bn | - | - |
| 4 | Brookfield | 93.07 Bn | 45.66 Bn | - | - |
| 5 | Brookfield Asset Management | 83.46 Bn | 81.96 Bn | - | 0.30 |
| 6 | Apollo Global Management | 78.41 Bn | 53.04 Bn | 10.54 Bn | 0.07 |
| 7 | State Street | 51.66 Bn | 51.66 Bn | - | 0.04 |
| 8 | Ameriprise Financial | 51.12 Bn | 40.07 Bn | 4.72 Bn | 0.10 |
| 9 | Raymond James Financial | 33.99 Bn | 20.74 Bn | - | 0.18 |
| 10 | Morgan Stanley Direct Lending Fund | 1.30 Bn | 1.22 Bn | - | 0.10 |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 0.10 |
| 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 |