Morgan Stanley Direct Lending Fund (MSDL) Assets Average (2023 - 2026)
Morgan Stanley Direct Lending Fund's (MSDL) quarterly Assets Average came in at $3.8 billion in Q2 2026, down 3.81% year-over-year from $3.9 billion in Q2 2025, and down 2.7% quarter-over-quarter from $3.9 billion in Q1 2026.
Analysis
Morgan Stanley Direct Lending Fund (MSDL) Assets Average (2023 - 2026) Analysis & Trends
Morgan Stanley Direct Lending Fund (MSDL) has reported Assets Average for 4 consecutive years, with $3.8 billion the latest figure, recorded in Q2 2026.
- On a quarterly basis, Assets Average fell 3.81% year-over-year to $3.8 billion in Q2 2026; TTM through Jun 2026 was $3.8 billion, a 3.81% decrease from a year earlier, with the FY2025 full-year figure at $3.9 billion, up 8.5% from the prior year.
- Assets Average was $3.8 billion for Q2 2026 at Morgan Stanley Direct Lending Fund, down from $3.9 billion in the prior quarter.
- Over five years, Assets Average peaked at $3.9 billion in Q3 2025 and troughed at $3.0 billion in Q1 2023.
- A 4-year average of $3.6 billion and a median of $3.7 billion in 2024 frame the typical range for Assets Average.
- Across the five-year window, Assets Average grew 17.35% in 2024 and slipped 3.81% in 2026, its largest moves.
- Over 4 years, Assets Average stood at $3.3 billion in 2023, then climbed by 17.04% to $3.9 billion in 2024, then grew by 1.91% to $3.9 billion in 2025, then fell by 4.03% to $3.8 billion in 2026.
- The last three Assets Average figures came in at $3.8 billion (Q2 2026), $3.9 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 Avg. (Qtr) |
|---|---|---|---|---|---|
| 1 | Ares Capital | 14.12 Bn | 13.73 Bn | - | 30.59 Bn |
| 2 | Blackstone Secured Lending Fund | 5.69 Bn | 5.42 Bn | - | 14.11 Bn |
| 3 | Blue Owl Capital | 5.52 Bn | 5.28 Bn | - | 15.69 Bn |
| 4 | Main Street Capital | 5.26 Bn | 5.20 Bn | - | 5.88 Bn |
| 5 | Blue Owl Technology Finance | 5.05 Bn | 4.84 Bn | - | 14.96 Bn |
| 6 | Hercules Capital | 4.64 Bn | 4.59 Bn | - | 4.76 Bn |
| 7 | FS KKR Capital | 3.37 Bn | 3.27 Bn | - | 12.41 Bn |
| 8 | Golub Capital Bdc | 3.34 Bn | 3.30 Bn | - | 8.43 Bn |
| 9 | PennantPark Floating Rate Capital | 2.48 Bn | -129.09 Mn | - | 2.69 Bn |
| 10 | Morgan Stanley Direct Lending Fund | 1.25 Bn | 1.17 Bn | - | 3.77 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.77 Bn |
| Mar 31, 2026 | 3.87 Bn |
| Dec 31, 2025 | 3.93 Bn |
| Sep 30, 2025 | 3.93 Bn |
| Jun 30, 2025 | 3.92 Bn |
| Mar 31, 2025 | 3.91 Bn |
| Dec 31, 2024 | 3.85 Bn |
| Sep 30, 2024 | 3.72 Bn |
| Jun 30, 2024 | 3.53 Bn |
| Mar 31, 2024 | 3.35 Bn |
| Dec 31, 2023 | 3.29 Bn |
| Sep 30, 2023 | 3.17 Bn |
| Jun 30, 2023 | 3.07 Bn |
| Mar 31, 2023 | 3.02 Bn |