Morgan Stanley Direct Lending Fund (MSDL) Other Operating Expenses (2022 - 2026)
Morgan Stanley Direct Lending Fund's Other Operating Expenses came in at $1.72 million for Q2 2026, up 1.1% from $1.7 million a year earlier and up 16.4% from the prior quarter.
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Analysis
Morgan Stanley Direct Lending Fund (MSDL) Other Operating Expenses (2022 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Morgan Stanley Direct Lending Fund reported Other Operating Expenses of $7.9 million, up 11.0% year-over-year; for FY2025, it came in at $8.02 million, up 19.3% from FY2024.
- Other Operating Expenses carries a four-year compound annual growth rate of -6.3% (FY2021 to FY2025).
- Going back by year, Other Operating Expenses was $6.72 million in FY2024 (+50.3%), $4.47 million in FY2023 (-77.7%), $20.04 million in FY2022 (+92.7%) and $10.4 million in FY2021.
- The five-year range for quarterly Other Operating Expenses is -$12.41 million (Q4 2023) to $5.82 million (Q3 2023).
- Year-over-year, Other Operating Expenses increased in three of the last seven quarters, with an average decline of 13.7%.
- The fastest year-over-year change in Other Operating Expenses over five years came in Q3 2025 (growth of 48.1%), and the weakest in Q3 2024 (a decline of 70.6%).
- Business Quant data shows MSDL's Other Operating Expenses at $1.47 million (Q1 2026), $2.18 million (Q4 2025) and $2.53 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - |
| 10 | Morgan Stanley Direct Lending Fund | 1.15 Bn | 802.02 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.72 Mn |
| Mar 31, 2026 | 1.47 Mn |
| Dec 31, 2025 | 2.18 Mn |
| Sep 30, 2025 | 2.53 Mn |
| Jun 30, 2025 | 1.70 Mn |
| Mar 31, 2025 | 1.61 Mn |
| Dec 31, 2024 | 2.11 Mn |
| Sep 30, 2024 | 1.71 Mn |
| Jun 30, 2024 | 2.16 Mn |
| Mar 31, 2024 | 3.10 Mn |
| Dec 31, 2023 | -12.41 Mn |
| Sep 30, 2023 | 5.82 Mn |
| Jun 30, 2023 | 5.58 Mn |
| Mar 31, 2023 | 5.48 Mn |
| Dec 31, 2022 | 5.35 Mn |
| Sep 30, 2022 | 5.15 Mn |
| Jun 30, 2022 | 4.90 Mn |
| Mar 31, 2022 | 4.64 Mn |
API Access
Morgan Stanley Direct Lending Fund Other Operating Expenses 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=other-operating-expenses&ticker=MSDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "other-operating-expenses", "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=other-operating-expenses&ticker=MSDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();