Morgan Stanley Direct Lending Fund (MSDL) Assets (2022 - 2026)
Morgan Stanley Direct Lending Fund's (MSDL) quarterly Assets came in at $3.7 billion in Q2 2026, down 5.38% year-over-year from $3.9 billion in Q2 2025, and down 2.98% quarter-over-quarter from $3.8 billion in Q1 2026.
Analysis
Morgan Stanley Direct Lending Fund (MSDL) Assets (2022 - 2026) Analysis & Trends
Morgan Stanley Direct Lending Fund (MSDL) has reported Assets for 5 consecutive years, with $3.7 billion the latest figure, recorded in Q2 2026.
- On a quarterly basis, Assets fell 5.38% year-over-year to $3.7 billion in Q2 2026; TTM through Jun 2026 was $3.7 billion, a 5.38% decrease from a year earlier, with the FY2025 full-year figure at $3.9 billion, changed 0.21% from the prior year.
- Assets was $3.7 billion for Q2 2026 at Morgan Stanley Direct Lending Fund, down from $3.8 billion in the prior quarter.
- Over five years, Assets peaked at $3.9 billion in Q3 2025 and troughed at $3.0 billion in Q4 2022.
- A 5-year average of $3.6 billion and a median of $3.7 billion in 2026 frame the typical range for Assets.
- Across the five-year window, Assets grew 19.04% in 2024 and decreased 5.38% in 2026, its largest moves.
- Over 5 years, Assets stood at $3.0 billion in 2022, then advanced by 10.74% to $3.3 billion in 2023, then rose by 18.3% to $3.9 billion in 2024, then increased by 0.21% to $3.9 billion in 2025, then slipped by 5.34% to $3.7 billion in 2026.
- The last three Assets figures came in at $3.7 billion (Q2 2026), $3.8 billion (Q1 2026), and $3.9 billion (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Assets (Qtr) |
|---|---|---|---|---|---|
| 1 | Ares Capital | 14.12 Bn | 13.73 Bn | - | 30.50 Bn |
| 2 | Blackstone Secured Lending Fund | 5.69 Bn | 5.42 Bn | - | 13.79 Bn |
| 3 | Blue Owl Capital | 5.52 Bn | 5.28 Bn | - | 15.35 Bn |
| 4 | Main Street Capital | 5.26 Bn | 5.20 Bn | - | 5.94 Bn |
| 5 | Blue Owl Technology Finance | 5.05 Bn | 4.84 Bn | - | 15.05 Bn |
| 6 | Hercules Capital | 4.64 Bn | 4.59 Bn | - | 4.69 Bn |
| 7 | FS KKR Capital | 3.37 Bn | 3.27 Bn | - | 11.99 Bn |
| 8 | Golub Capital Bdc | 3.34 Bn | 3.30 Bn | - | 8.34 Bn |
| 9 | PennantPark Floating Rate Capital | 2.48 Bn | -129.09 Mn | - | 2.63 Bn |
| 10 | Morgan Stanley Direct Lending Fund | 1.25 Bn | 1.17 Bn | - | 3.71 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.71 Bn |
| Mar 31, 2026 | 3.82 Bn |
| Dec 31, 2025 | 3.92 Bn |
| Sep 30, 2025 | 3.93 Bn |
| Jun 30, 2025 | 3.92 Bn |
| Mar 31, 2025 | 3.91 Bn |
| Dec 31, 2024 | 3.91 Bn |
| Sep 30, 2024 | 3.79 Bn |
| Jun 30, 2024 | 3.66 Bn |
| Mar 31, 2024 | 3.40 Bn |
| Dec 31, 2023 | 3.31 Bn |
| Sep 30, 2023 | 3.28 Bn |
| Jun 30, 2023 | 3.07 Bn |
| Mar 31, 2023 | 3.06 Bn |
| Dec 31, 2022 | 2.99 Bn |