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Morgan Stanley Direct Lending Fund (MSDL) Operating Expenses (2022 - 2025)

Morgan Stanley Direct Lending Fund (MSDL) has disclosed Operating Expenses for 4 consecutive years, with $52.6 million as the latest value for Q4 2025.

  • On a quarterly basis, Operating Expenses fell 21.8% to $52.6 million in Q4 2025 year-over-year; TTM through Dec 2025 was $219.5 million, a 4.82% increase, with the full-year FY2025 number at $219.5 million, up 4.82% from a year prior.
  • Operating Expenses was $52.6 million for Q4 2025 at Morgan Stanley Direct Lending Fund, down from $55.6 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $67.3 million in Q4 2024 to a low of $16.0 million in Q2 2022.
  • A 4-year average of $44.2 million and a median of $44.5 million in 2023 define the central range for Operating Expenses.
  • Biggest YoY gain for Operating Expenses was 157.09% in 2023; the steepest drop was 33.31% in 2023.
  • Morgan Stanley Direct Lending Fund's Operating Expenses stood at $40.3 million in 2022, then crashed by 33.31% to $26.9 million in 2023, then surged by 150.2% to $67.3 million in 2024, then fell by 21.8% to $52.6 million in 2025.
  • Per Business Quant, the three most recent readings for MSDL's Operating Expenses are $52.6 million (Q4 2025), $55.6 million (Q3 2025), and $55.7 million (Q2 2025).