Morgan Stanley Direct Lending Fund (MSDL) Other Operating Expenses (2022 - 2026)
Morgan Stanley Direct Lending Fund's (MSDL) quarterly Other Operating Expenses came in at $49.6 million in Q2 2026, down 10.62% year-over-year from $55.5 million in Q2 2025, and up 4.34% quarter-over-quarter from $47.6 million in Q1 2026.
Analysis
Morgan Stanley Direct Lending Fund (MSDL) Other Operating Expenses (2022 - 2026) Analysis & Trends
Morgan Stanley Direct Lending Fund (MSDL) has reported Other Operating Expenses for 5 consecutive years, with $49.6 million the latest figure, recorded in Q2 2026.
- On a quarterly basis, Other Operating Expenses fell 10.62% year-over-year to $49.6 million in Q2 2026; TTM through Jun 2026 was $205.3 million, a 6.96% decrease from a year earlier, with the FY2025 full-year figure at $219.1 million, up 4.7% from the prior year.
- Other Operating Expenses was $49.6 million for Q2 2026 at Morgan Stanley Direct Lending Fund, up from $47.6 million in the prior quarter.
- Over five years, Other Operating Expenses peaked at $55.6 million in Q3 2025 and troughed at $22.0 million in Q1 2022.
- A 5-year average of $46.5 million and a median of $49.6 million in 2023 frame the typical range for Other Operating Expenses.
- Across the five-year window, Other Operating Expenses surged 103.51% in 2023 and dropped 14.21% in 2026, its largest moves.
- Over 5 years, Other Operating Expenses stood at $40.6 million in 2022, then climbed by 22.19% to $49.6 million in 2023, then grew by 11.54% to $55.4 million in 2024, then dropped by 5.04% to $52.6 million in 2025, then dropped by 5.64% to $49.6 million in 2026.
- The last three Other Operating Expenses figures came in at $49.6 million (Q2 2026), $47.6 million (Q1 2026), and $52.6 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Ares Capital | 14.39 Bn | 14.01 Bn | - |
| 2 | Blackstone Secured Lending Fund | 5.76 Bn | 5.49 Bn | - |
| 3 | Blue Owl Capital | 5.62 Bn | 5.38 Bn | - |
| 4 | Main Street Capital | 5.39 Bn | 5.33 Bn | - |
| 5 | Blue Owl Technology Finance | 5.20 Bn | 4.99 Bn | - |
| 6 | Hercules Capital | 4.68 Bn | 4.64 Bn | - |
| 7 | FS KKR Capital | 3.48 Bn | 3.37 Bn | - |
| 8 | Golub Capital Bdc | 3.38 Bn | 3.34 Bn | - |
| 9 | PennantPark Floating Rate Capital | 2.47 Bn | -134.94 Mn | - |
| 10 | Morgan Stanley Direct Lending Fund | 1.29 Bn | 1.21 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 49.63 Mn |
| Mar 31, 2026 | 47.56 Mn |
| Dec 31, 2025 | 52.59 Mn |
| Sep 30, 2025 | 55.55 Mn |
| Jun 30, 2025 | 55.52 Mn |
| Mar 31, 2025 | 55.44 Mn |
| Dec 31, 2024 | 55.38 Mn |
| Sep 30, 2024 | 54.36 Mn |
| Jun 30, 2024 | 51.33 Mn |
| Mar 31, 2024 | 48.21 Mn |
| Dec 31, 2023 | 49.65 Mn |
| Sep 30, 2023 | 49.58 Mn |
| Jun 30, 2023 | 46.49 Mn |
| Mar 31, 2023 | 44.73 Mn |
| Dec 31, 2022 | 40.63 Mn |
| Sep 30, 2022 | 33.70 Mn |
| Jun 30, 2022 | 25.42 Mn |
| Mar 31, 2022 | 21.98 Mn |