Morgan Stanley Direct Lending Fund MSDL
NYSE MSDL
$14.76 -0.28 (-1.90%)
As of: Sep 9, 2026 · 3:59 PM EDT

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 $2.0 billion in Q2 2026, down 3.33% year-over-year from $2.1 billion in Q2 2025, and down 3.47% quarter-over-quarter from $2.1 billion in Q1 2026.

Analysis

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

Morgan Stanley Direct Lending Fund (MSDL) has reported Non-Current Debt for 5 consecutive years, with $2.0 billion the latest figure, recorded in Q2 2026.

  • On a quarterly basis, Non-Current Debt fell 3.33% year-over-year to $2.0 billion in Q2 2026; TTM through Jun 2026 was $2.0 billion, a 3.33% decrease from a year earlier, with the FY2025 full-year figure at $2.1 billion, up 5.74% from the prior year.
  • Non-Current Debt was $2.0 billion for Q2 2026 at Morgan Stanley Direct Lending Fund, down from $2.1 billion in the prior quarter.
  • Over five years, Non-Current Debt peaked at $2.1 billion in Q4 2025 and troughed at $1.5 billion in Q1 2024.
  • A 5-year average of $1.8 billion and a median of $1.8 billion in 2024 frame the typical range for Non-Current Debt.
  • Across the five-year window, Non-Current Debt decreased 6.15% in 2024 and jumped 35.13% in 2025, its largest moves.
  • Over 5 years, Non-Current Debt stood at $1.5 billion in 2022, then slipped by 1.8% to $1.5 billion in 2023, then surged by 31.91% to $2.0 billion in 2024, then gained by 5.74% to $2.1 billion in 2025, then decreased by 5.02% to $2.0 billion in 2026.
  • The last three Non-Current Debt figures came in at $2.0 billion (Q2 2026), $2.1 billion (Q1 2026), and $2.1 billion (Q4 2025), per Business Quant data.
Peer Set

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Non-Current Debt (Qtr)
1 Ares Capital 14.12 Bn 13.73 Bn - 15.77 Bn
2 Blackstone Secured Lending Fund 5.69 Bn 5.42 Bn - 7.54 Bn
3 Blue Owl Capital 5.52 Bn 5.28 Bn - 7.90 Bn
4 Main Street Capital 5.26 Bn 5.20 Bn - 2.53 Bn
5 Blue Owl Technology Finance 5.05 Bn 4.84 Bn - 7.16 Bn
6 Hercules Capital 4.64 Bn 4.59 Bn - 2.34 Bn
7 FS KKR Capital 3.37 Bn 3.27 Bn - 6.47 Bn
8 Golub Capital Bdc 3.34 Bn 3.30 Bn - 4.54 Bn
9 PennantPark Floating Rate Capital 2.48 Bn -129.09 Mn - 318.31 Mn
10 Morgan Stanley Direct Lending Fund 1.25 Bn 1.17 Bn - 1.98 Bn
Historic Data

Historic Data

Download Data
DateValue
Jun 30, 2026 1.98 Bn
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