Morgan Stanley Direct Lending Fund (MSDL) Interest & Investment Income (2022 - 2026)
Morgan Stanley Direct Lending Fund (MSDL) reported Interest & Investment Income of $38.96 million for Q2 2026, down 11.2% from $43.86 million a year earlier and down 5.8% from the prior quarter.
Morgan Stanley Direct Lending Fund (MSDL) Interest & Investment Income (2022 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Morgan Stanley Direct Lending Fund's Interest & Investment Income came in at $168.43 million, down 16.5% year-over-year; for FY2025, it came in at $178.84 million, down 19.7% from FY2024.
- Interest & Investment Income has a four-year compound annual growth rate of 25.1% (FY2021 to FY2025).
- By year, Interest & Investment Income came in at $222.67 million in FY2024 (+11.6%), $199.58 million in FY2023 (+55.5%), $128.34 million in FY2022 (+75.8%) and $73.01 million in FY2021.
- The Q2 2026 figure ranks as the lowest quarterly Interest & Investment Income since Q4 2022.
- Year over year, Interest & Investment Income has now declined in each of the last seven quarters, with an average decline of 11.6% over the last eight quarters.
- The high point for year-over-year Interest & Investment Income in five years was Q1 2023 (growth of 66.8%); the low point was Q3 2025 (a decline of 25.5%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $41.34 million (Q1 2026), $44 million (Q4 2025) and $44.13 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Int & Inv Inc (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.94 Bn | 29.62 Bn | - | - |
| 2 | Orix | 41.70 Bn | 42.20 Bn | - | 1.78 Bn |
| 3 | Royalty Pharma | 32.87 Bn | 32.78 Bn | - | 5.13 Mn |
| 4 | Federal National Mortgage Association Fannie Mae | 25.52 Bn | 25.52 Bn | - | - |
| 5 | Affirm Holdings | 23.86 Bn | 17.55 Bn | - | - |
| 6 | Synchrony Financial | 23.33 Bn | -44.64 Bn | - | - |
| 7 | Royal Gold | 19.87 Bn | 19.09 Bn | 390.45 Mn | 3.55 Mn |
| 8 | Annaly Capital Management | 13.89 Bn | 4.98 Bn | - | - |
| 9 | Ares Capital | 13.54 Bn | 10.98 Bn | - | 367.00 Mn |
| 10 | Morgan Stanley Direct Lending Fund | 1.14 Bn | 793.57 Mn | - | 38.96 Mn |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 38.96 Mn |
| Mar 31, 2026 | 41.34 Mn |
| Dec 31, 2025 | 44.00 Mn |
| Sep 30, 2025 | 44.13 Mn |
| Jun 30, 2025 | 43.86 Mn |
| Mar 31, 2025 | 46.86 Mn |
| Dec 31, 2024 | 51.73 Mn |
| Sep 30, 2024 | 59.23 Mn |
| Jun 30, 2024 | 56.62 Mn |
| Mar 31, 2024 | 55.09 Mn |
| Dec 31, 2023 | 56.99 Mn |
| Sep 30, 2023 | 50.57 Mn |
| Jun 30, 2023 | 47.80 Mn |
| Mar 31, 2023 | 44.22 Mn |
| Dec 31, 2022 | 38.61 Mn |
| Sep 30, 2022 | 33.81 Mn |
| Jun 30, 2022 | 29.41 Mn |
| Mar 31, 2022 | 26.51 Mn |
Morgan Stanley Direct Lending Fund Interest & Investment Income API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=interest-and-investment-income&ticker=MSDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "interest-and-investment-income", "ticker": "MSDL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=interest-and-investment-income&ticker=MSDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();