Morgan Stanley Direct Lending Fund (MSDL) Operating Expenses (2022 - 2026)

Morgan Stanley Direct Lending Fund (MSDL) has reported Operating Expenses for 5 consecutive years, with $49.8 million the latest figure, recorded in Q2 2026.

• On a quarterly basis, Operating Expenses fell 10.49% year-over-year to $49.8 million in Q2 2026; TTM through Jun 2026 was $205.7 million, a 6.89% decrease from a year earlier, with the FY2025 full-year figure at $219.5 million, up 4.82% from the prior year.
• Operating Expenses was $49.8 million for Q2 2026 at Morgan Stanley Direct Lending Fund, up from $47.7 million in the prior quarter.
• Over five years, Operating Expenses peaked at $55.7 million in Q2 2025 and troughed at $22.4 million in Q1 2022.
• A 5-year average of $46.6 million and a median of $49.7 million in 2023 frame the typical range for Operating Expenses.
• Across the five-year window, Operating Expenses soared 100.53% in 2023 and fell 14.2% in 2026, its largest moves.
• Over 5 years, Operating Expenses stood at $40.3 million in 2022, then climbed by 23.53% to $49.8 million in 2023, then climbed by 10.84% to $55.2 million in 2024, then declined by 4.7% to $52.6 million in 2025, then decreased by 5.3% to $49.8 million in 2026.
• The last three Operating Expenses figures came in at $49.8 million (Q2 2026), $47.7 million (Q1 2026), and $52.6 million (Q4 2025), per Business Quant data.