Morgan Stanley Direct Lending Fund (MSDL) Investment Income (2022 - 2026)

Morgan Stanley Direct Lending Fund's (MSDL) quarterly Investment Income came in at -$45.0 million in Q1 2026, down 171.89% year-on-year from $62.6 million in Q1 2025, and down 229.0% on a QoQ basis from -$13.7 million in Q4 2025.

Morgan Stanley Direct Lending Fund (MSDL) Investment Income (2022 - 2026) Analysis & Trends

Morgan Stanley Direct Lending Fund (MSDL) has 5 years of Investment Income data on file, last reported at -$45.0 million in Q1 2026.

  • On a quarterly basis, Investment Income fell 171.89% year-over-year to -$45.0 million in Q1 2026; TTM through Mar 2026 was -$82.4 million, a 351.18% decrease from a year earlier, with the FY2025 full-year figure at -$53.9 million, down 1054.61% from the prior year.
  • Investment Income for Q1 2026 stood at -$45.0 million, down from -$13.7 million in the prior quarter.
  • Over the last five years, Investment Income for MSDL reached as high as $22.8 million in Q3 2023 and fell as low as -$45.0 million in Q1 2026.
  • Historically, Investment Income has averaged -$8.8 million across 5 years, with a median of -$5.5 million in 2024.
  • Across the five-year window, Investment Income jumped 193.69% in 2023 and sank 1628.94% in 2025, its largest moves.
  • Year by year, Investment Income stood at -$18.2 million in 2022, then surged by 110.56% to $1.9 million in 2023, then tumbled by 53.31% to $895000.0 in 2024, then sank by 1628.94% to -$13.7 million in 2025, then plunged by 229.0% to -$45.0 million in 2026.
  • Per Business Quant data, the three most recent Investment Income figures were -$45.0 million in Q1 2026, -$13.7 million in Q4 2025, and -$16.1 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Inv. Income (Qtr)
1 Brookfield 1,261.80 Bn 1,217.21 Bn 18.56 Bn -
2 BlackRock 165.12 Bn 151.98 Bn - -
3 Blackstone 103.58 Bn 101.13 Bn - -
4 Brookfield Asset Management 76.31 Bn 75.26 Bn - -
5 Apollo Global Management 73.95 Bn 73.95 Bn -409.00 Mn -
6 State Street 51.18 Bn 51.18 Bn - -
7 Ameriprise Financial 50.08 Bn 40.82 Bn 4.57 Bn -
8 Raymond James Financial 34.03 Bn 19.06 Bn - -
9 Northern Trust 33.84 Bn 33.84 Bn - -
10 Morgan Stanley Direct Lending Fund 1.31 Bn 1.21 Bn - -45.02 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 -45.02 Mn
Dec 31, 2025 -13.68 Mn
Sep 30, 2025 -16.13 Mn
Jun 30, 2025 -7.56 Mn
Mar 31, 2025 -16.56 Mn
Dec 31, 2024 895,000.00
Sep 30, 2024 -5.52 Mn
Jun 30, 2024 2.92 Mn
Mar 31, 2024 -2.97 Mn
Dec 31, 2023 1.92 Mn
Sep 30, 2023 22.83 Mn
Jun 30, 2023 8.65 Mn
Mar 31, 2023 -445,000.00
Dec 31, 2022 -18.16 Mn
Sep 30, 2022 -24.37 Mn
Jun 30, 2022 -32.67 Mn
Mar 31, 2022 -4.27 Mn