Morgan Stanley Direct Lending Fund (MSDL) Liabilities and Shareholders Equity (2022 - 2026)
Morgan Stanley Direct Lending Fund (MSDL) recorded Liabilities and Shareholders Equity of $3.71 billion in Q2 2026, down 5.4% from $3.92 billion a year earlier and down 3.0% from the prior quarter.
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Analysis
Morgan Stanley Direct Lending Fund (MSDL) Liabilities and Shareholders Equity (2022 - 2026) Analysis & Trends
At the end of FY2025, Morgan Stanley Direct Lending Fund reported Liabilities and Shareholders Equity of $3.92 billion, up 0.2% from FY2024.
- Annual Liabilities and Shareholders Equity has increased for three straight years, with a three-year compound annual growth rate of 9.5% (FY2022 to FY2025).
- Across earlier years, Liabilities and Shareholders Equity came in at $3.91 billion in FY2024 (+18.3%), $3.31 billion in FY2023 (+10.7%) and $2.99 billion in FY2022.
- The Q2 2026 figure is the lowest quarterly Liabilities and Shareholders Equity since Q2 2024.
- On a year-over-year basis, Liabilities and Shareholders Equity rose in six of the last eight quarters, with growth averaging 6.6%.
- Peak year-over-year performance for Liabilities and Shareholders Equity in the last five years was growth of 19.0% in Q2 2024, against a decline of 5.4% in Q2 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at $3.82 billion (Q1 2026), $3.92 billion (Q4 2025) and $3.93 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Liabilities and Shareholders Equity (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - | 60.98 Bn |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - | 114.54 Bn |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - | 19.82 Bn |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - | 4,332.34 Bn |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - | 15.79 Bn |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - | 121.93 Bn |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn | 9.45 Bn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - | 143.74 Bn |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - | 30.50 Bn |
| 10 | Morgan Stanley Direct Lending Fund | 1.15 Bn | 802.02 Mn | - | 3.71 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.71 Bn |
| Mar 31, 2026 | 3.82 Bn |
| Dec 31, 2025 | 3.92 Bn |
| Sep 30, 2025 | 3.93 Bn |
| Jun 30, 2025 | 3.92 Bn |
| Mar 31, 2025 | 3.91 Bn |
| Dec 31, 2024 | 3.91 Bn |
| Sep 30, 2024 | 3.79 Bn |
| Jun 30, 2024 | 3.66 Bn |
| Mar 31, 2024 | 3.40 Bn |
| Dec 31, 2023 | 3.31 Bn |
| Sep 30, 2023 | 3.28 Bn |
| Jun 30, 2023 | 3.07 Bn |
| Mar 31, 2023 | 3.06 Bn |
| Dec 31, 2022 | 2.99 Bn |
API Access
Morgan Stanley Direct Lending Fund Liabilities and Shareholders Equity 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=liabilities-and-shareholders-equity&ticker=MSDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "liabilities-and-shareholders-equity", "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=liabilities-and-shareholders-equity&ticker=MSDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();