Morgan Stanley Direct Lending Fund (MSDL) Other Operating Expenses (2022 - 2026)
Morgan Stanley Direct Lending Fund (MSDL) posted quarterly Other Operating Expenses of $47.6 million for Q1 2026, down 12.61% year-over-year from $54.4 million in Q1 2025, and down 9.57% quarter-over-quarter from $52.6 million in Q4 2025.
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 $47.6 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Other Operating Expenses fell 12.61% year-over-year to $47.6 million; the TTM figure through Mar 2026 stood at $211.2 million (up 1.69% YoY), while the FY2025 annual figure was $218.1 million, up 4.21% from the prior year.
- Other Operating Expenses retreated to $47.6 million in Q1 2026 per MSDL's latest filing, from $52.6 million in the prior quarter.
- Across five years, Other Operating Expenses topped out at $55.6 million in Q3 2025 and bottomed at $17.4 million in Q1 2022.
- Historically, Other Operating Expenses has averaged $42.8 million across 5 years, with a median of $44.7 million in 2023.
- Annual changes were most pronounced in 2023 — Other Operating Expenses jumped 157.35% — and 2026, when it decreased 12.61%.
- Morgan Stanley Direct Lending Fund's Other Operating Expenses stood at $20.6 million in 2022, then jumped by 111.31% to $43.6 million in 2023, then increased by 26.97% to $55.4 million in 2024, then fell by 5.04% to $52.6 million in 2025, then dropped by 9.57% to $47.6 million in 2026.
- Business Quant data shows MSDL's Other Operating Expenses at $47.6 million in Q1 2026, $52.6 million in Q4 2025, and $55.6 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | BlackRock | 176.99 Bn | 163.12 Bn | - |
| 2 | Blackstone | 113.16 Bn | 110.65 Bn | - |
| 3 | Kkr | 96.05 Bn | -181.02 Bn | - |
| 4 | Brookfield | 92.54 Bn | 45.14 Bn | - |
| 5 | Brookfield Asset Management | 82.31 Bn | 80.81 Bn | - |
| 6 | Apollo Global Management | 77.14 Bn | 51.77 Bn | 10.54 Bn |
| 7 | State Street | 50.64 Bn | 50.64 Bn | - |
| 8 | Ameriprise Financial | 50.31 Bn | 39.27 Bn | 4.72 Bn |
| 9 | Northern Trust | 33.61 Bn | 33.61 Bn | - |
| 10 | Morgan Stanley Direct Lending Fund | 1.30 Bn | 1.22 Bn | - |
Historic Data
Download 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 | 54.42 Mn |
| Dec 31, 2024 | 55.38 Mn |
| Sep 30, 2024 | 50.40 Mn |
| Jun 30, 2024 | 47.52 Mn |
| Mar 31, 2024 | 43.91 Mn |
| Dec 31, 2023 | 43.62 Mn |
| Sep 30, 2023 | 43.76 Mn |
| Jun 30, 2023 | 40.90 Mn |
| Mar 31, 2023 | 44.73 Mn |
| Dec 31, 2022 | 20.64 Mn |
| Sep 30, 2022 | 33.70 Mn |
| Jun 30, 2022 | 20.52 Mn |
| Mar 31, 2022 | 17.38 Mn |