Morgan Stanley Direct Lending Fund (MSDL) Non-Current Debt (2022 - 2026)

Morgan Stanley Direct Lending Fund's (MSDL) quarterly Non-Current Debt came in at $2.1 billion in Q1 2026, up 2.2% year-on-year from $2.0 billion in Q1 2025, and down 1.61% on a QoQ basis from $2.1 billion in Q4 2025.

Morgan Stanley Direct Lending Fund (MSDL) Non-Current Debt (2022 - 2026) Analysis & Trends

Morgan Stanley Direct Lending Fund (MSDL) has 5 years of Non-Current Debt data on file, last reported at $2.1 billion in Q1 2026.

  • On a quarterly basis, Non-Current Debt rose 2.2% year-over-year to $2.1 billion in Q1 2026; TTM through Mar 2026 was $2.1 billion, a 2.2% increase from a year earlier, with the FY2025 full-year figure at $2.1 billion, up 5.74% from the prior year.
  • Non-Current Debt for Q1 2026 stood at $2.1 billion, down from $2.1 billion in the prior quarter.
  • Over the last five years, Non-Current Debt for MSDL reached as high as $2.1 billion in Q4 2025 and fell as low as $1.5 billion in Q1 2024.
  • Historically, Non-Current Debt has averaged $1.8 billion across 5 years, with a median of $1.8 billion in 2023.
  • Across the five-year window, Non-Current Debt retreated 6.15% in 2024 and soared 35.13% in 2025, its largest moves.
  • Year by year, Non-Current Debt stood at $1.5 billion in 2022, then retreated by 1.8% to $1.5 billion in 2023, then soared by 31.91% to $2.0 billion in 2024, then increased by 5.74% to $2.1 billion in 2025, then dropped by 1.61% to $2.1 billion in 2026.
  • Per Business Quant data, the three most recent Non-Current Debt figures were $2.1 billion in Q1 2026, $2.1 billion in Q4 2025, and $2.1 billion in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Non-Current Debt (Qtr)
1 Brookfield 1,236.60 Bn 1,311.20 Bn 18.56 Bn 15.06 Bn
2 BlackRock 161.01 Bn 148.08 Bn - 12.32 Bn
3 Blackstone 97.77 Bn 96.72 Bn - 13.28 Bn
4 Apollo Global Management 70.80 Bn 90.38 Bn -409.00 Mn 14.22 Bn
5 State Street 51.30 Bn 51.30 Bn - -
6 Ameriprise Financial 48.54 Bn 39.27 Bn 4.57 Bn 200.00 Mn
7 Northern Trust 32.93 Bn 32.93 Bn - 7.84 Bn
8 Raymond James Financial 32.59 Bn 17.67 Bn - 3.52 Bn
9 Price T Rowe 24.70 Bn 21.13 Bn - -
10 Morgan Stanley Direct Lending Fund 1.29 Bn 1.19 Bn - 2.05 Bn

Historic Data

Download Data
DateValue
Mar 31, 2026 2.05 Bn
Dec 31, 2025 2.09 Bn
Sep 30, 2025 2.07 Bn
Jun 30, 2025 2.05 Bn
Mar 31, 2025 2.01 Bn
Dec 31, 2024 1.97 Bn
Sep 30, 2024 1.84 Bn
Jun 30, 2024 1.66 Bn
Mar 31, 2024 1.49 Bn
Dec 31, 2023 1.50 Bn
Sep 30, 2023 1.72 Bn
Jun 30, 2023 1.55 Bn
Mar 31, 2023 1.58 Bn
Dec 31, 2022 1.52 Bn