Morgan Stanley Direct Lending Fund (MSDL) Interest Expenses (2022 - 2026)

Morgan Stanley Direct Lending Fund's (MSDL) quarterly Interest Expenses came in at $30.7 million in Q1 2026, down 17.0% year-on-year from $36.9 million in Q1 2025, and down 71.83% on a QoQ basis from $108.9 million in Q4 2025.

Morgan Stanley Direct Lending Fund (MSDL) Interest Expenses (2022 - 2026) Analysis & Trends

Morgan Stanley Direct Lending Fund (MSDL) has 5 years of Interest Expenses data on file, last reported at $30.7 million in Q1 2026.

  • On a quarterly basis, Interest Expenses fell 17.0% year-over-year to $30.7 million in Q1 2026; TTM through Mar 2026 was $208.1 million, a 53.65% increase from a year earlier, with the FY2025 full-year figure at $136.1 million, up 10.74% from the prior year.
  • Interest Expenses for Q1 2026 stood at $30.7 million, down from $108.9 million in the prior quarter.
  • Over the last five years, Interest Expenses for MSDL reached as high as $108.9 million in Q4 2025 and fell as low as $5.8 million in Q4 2022.
  • Historically, Interest Expenses has averaged $32.4 million across 5 years, with a median of $31.9 million in 2023.
  • Across the five-year window, Interest Expenses jumped 219.44% in 2023 and decreased 17.0% in 2026, its largest moves.
  • Year by year, Interest Expenses stood at $5.8 million in 2022, then surged by 408.84% to $29.7 million in 2023, then climbed by 21.47% to $36.1 million in 2024, then jumped by 201.89% to $108.9 million in 2025, then tumbled by 71.83% to $30.7 million in 2026.
  • Per Business Quant data, the three most recent Interest Expenses figures were $30.7 million in Q1 2026, $108.9 million in Q4 2025, and $33.9 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Interest Expense (Qtr)
1 Brookfield 1,236.60 Bn 1,311.20 Bn 18.56 Bn -
2 BlackRock 161.01 Bn 148.08 Bn - 134.00 Mn
3 Blackstone 97.77 Bn 96.72 Bn - 137.05 Mn
4 Apollo Global Management 70.80 Bn 90.38 Bn -409.00 Mn 3.25 Bn
5 State Street 51.30 Bn 51.30 Bn - 1.78 Bn
6 Ameriprise Financial 48.54 Bn 39.27 Bn 4.57 Bn 142.00 Mn
7 Northern Trust 32.93 Bn 32.93 Bn - 1.58 Bn
8 Raymond James Financial 32.59 Bn 17.67 Bn - 483.00 Mn
9 Price T Rowe 24.70 Bn 21.13 Bn - -
10 Morgan Stanley Direct Lending Fund 1.29 Bn 1.19 Bn - 30.67 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 30.67 Mn
Mar 31, 2026 30.67 Mn
Dec 31, 2025 108.86 Mn
Dec 31, 2025 108.86 Mn
Sep 30, 2025 33.90 Mn
Sep 30, 2025 33.90 Mn
Jun 30, 2025 34.71 Mn
Jun 30, 2025 34.71 Mn
Mar 31, 2025 36.95 Mn
Mar 31, 2025 36.95 Mn
Dec 31, 2024 36.06 Mn
Dec 31, 2024 36.06 Mn
Sep 30, 2024 33.15 Mn
Sep 30, 2024 33.15 Mn
Jun 30, 2024 29.30 Mn
Jun 30, 2024 29.30 Mn
Mar 31, 2024 35.56 Mn
Mar 31, 2024 35.56 Mn
Sep 30, 2023 29.69 Mn
Sep 30, 2023 29.69 Mn