Growth Metrics

Morgan Stanley Direct Lending Fund (MSDL) Invested Capital (2022 - 2026)

Morgan Stanley Direct Lending Fund has reported Invested Capital over the past 4 years, most recently at $3.8 billion for Q4 2025.

  • Quarterly Invested Capital rose 0.5% to $3.8 billion in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $3.8 billion through Dec 2025, up 0.5% year-over-year, with the annual reading at $3.8 billion for FY2025, 0.5% up from the prior year.
  • Invested Capital was $3.8 billion for Q4 2025 at Morgan Stanley Direct Lending Fund, roughly flat from $3.8 billion in the prior quarter.
  • Over five years, Invested Capital peaked at $3.8 billion in Q3 2025 and troughed at $1.2 billion in Q1 2022.
  • The 4-year median for Invested Capital is $3.3 billion (2023), against an average of $3.0 billion.
  • Year-over-year, Invested Capital soared 151.8% in 2023 and then grew 0.5% in 2025.
  • A 4-year view of Invested Capital shows it stood at $2.9 billion in 2022, then grew by 10.15% to $3.2 billion in 2023, then increased by 18.6% to $3.8 billion in 2024, then grew by 0.5% to $3.8 billion in 2025.
  • Per Business Quant, the three most recent readings for MSDL's Invested Capital are $3.8 billion (Q4 2025), $3.8 billion (Q3 2025), and $3.8 billion (Q2 2025).