Morgan Stanley Direct Lending Fund (MSDL) Equity Average (2022 - 2026)
Morgan Stanley Direct Lending Fund (MSDL) reported Equity Average of $1.7 billion for Q1 2026, down 6.05% year-over-year from $1.8 billion in Q1 2025, and down 2.31% on a QoQ basis from $1.8 billion in Q4 2025.
Morgan Stanley Direct Lending Fund (MSDL) has 5 years of Equity Average data on file, last reported at $1.7 billion in Q1 2026.
- Quarterly Equity Average fell 6.05% year-over-year to $1.7 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $1.7 billion (down 6.05% YoY) and the FY2025 annual result came in at $1.8 billion, up 0.76% from the prior year.
- Equity Average eased to $1.7 billion in Q1 2026 per MSDL's latest filing, from $1.8 billion in the prior quarter.
- Across five years, Equity Average topped out at $1.9 billion in Q3 2024 and bottomed at $1.2 billion in Q2 2022.
- The 5-year median for Equity Average is $1.7 billion (2025), against an average of $1.6 billion.
- The widest annual swing landed in 2024, when Equity Average grew 29.58%; it then slipped 6.05% in 2026.
- Tracing MSDL's Equity Average over 5 years: stood at $1.4 billion in 2022, then grew by 18.42% to $1.6 billion in 2023, then rose by 15.4% to $1.8 billion in 2024, then dropped by 4.77% to $1.8 billion in 2025, then retreated by 2.31% to $1.7 billion in 2026.
- Per Business Quant, the three latest MSDL Equity Average figures stand at $1.7 billion (Q1 2026), $1.8 billion (Q4 2025), and $1.8 billion (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Equity Avg. (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 158.51 Bn | 148.89 Bn | - | 56.51 Bn |
| 2 | Blackstone | 92.68 Bn | 91.63 Bn | - | 14.44 Bn |
| 3 | Kkr | 84.94 Bn | 132.45 Bn | - | 54.71 Bn |
| 4 | Brookfield Asset Management | 77.34 Bn | 77.68 Bn | - | 8.75 Bn |
| 5 | Apollo Global Management | 76.27 Bn | 95.00 Bn | 5.04 Bn | 41.02 Bn |
| 6 | State Street | 44.42 Bn | 18.75 Bn | - | - |
| 7 | Ameriprise Financial | 41.68 Bn | 41.55 Bn | 4.57 Bn | 6.38 Bn |
| 8 | Northern Trust | 31.21 Bn | 31.21 Bn | - | 12.97 Bn |
| 9 | Ares Management | 28.85 Bn | 32.22 Bn | - | 6.32 Bn |
| 10 | Morgan Stanley Direct Lending Fund | - | - | - | 1.72 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 1.72 Bn |
| Dec 31, 2025 | 1.76 Bn |
| Sep 30, 2025 | 1.78 Bn |
| Jun 30, 2025 | 1.80 Bn |
| Mar 31, 2025 | 1.83 Bn |
| Dec 31, 2024 | 1.85 Bn |
| Sep 30, 2024 | 1.86 Bn |
| Jun 30, 2024 | 1.85 Bn |
| Mar 31, 2024 | 1.78 Bn |
| Dec 31, 2023 | 1.60 Bn |
| Sep 30, 2023 | 1.46 Bn |
| Jun 30, 2023 | 1.43 Bn |
| Mar 31, 2023 | 1.41 Bn |
| Dec 31, 2022 | 1.35 Bn |
| Sep 30, 2022 | 1.27 Bn |
| Jun 30, 2022 | 1.22 Bn |