Morgan Stanley Direct Lending Fund (MSDL) Total Liabilities (2022 - 2026)
Morgan Stanley Direct Lending Fund (MSDL) reported Total Liabilities of $2.06 billion for Q2 2026, down 3.2% from $2.13 billion a year earlier and down 3.3% from the prior quarter.
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Analysis
Morgan Stanley Direct Lending Fund (MSDL) Total Liabilities (2022 - 2026) Analysis & Trends
At the end of FY2025, Morgan Stanley Direct Lending Fund posted Total Liabilities of $2.17 billion, up 4.9% from FY2024.
- Total Liabilities has a three-year compound annual growth rate of 11.0% (FY2022 to FY2025).
- By year, Total Liabilities came in at $2.07 billion in FY2024 (+30.5%), $1.59 billion in FY2023 (-0.2%) and $1.59 billion in FY2022.
- The Q2 2026 figure ranks as the lowest quarterly Total Liabilities since Q3 2024.
- Year over year, Total Liabilities gained in seven of the last eight quarters, with growth averaging 13.3%.
- The high point for year-over-year Total Liabilities in five years was Q1 2025 (growth of 33.9%); the low point was Q1 2024 (a decline of 4.9%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $2.13 billion (Q1 2026), $2.17 billion (Q4 2025) and $2.16 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Total Liabilities (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - | 37.43 Bn |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - | 84.49 Bn |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - | 10.03 Bn |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - | 4,215.85 Bn |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - | 10.31 Bn |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - | 105.03 Bn |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn | 1.82 Bn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - | 126.76 Bn |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - | 16.61 Bn |
| 10 | Morgan Stanley Direct Lending Fund | 1.15 Bn | 802.02 Mn | - | 2.06 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.06 Bn |
| Mar 31, 2026 | 2.13 Bn |
| Dec 31, 2025 | 2.17 Bn |
| Sep 30, 2025 | 2.16 Bn |
| Jun 30, 2025 | 2.13 Bn |
| Mar 31, 2025 | 2.09 Bn |
| Dec 31, 2024 | 2.07 Bn |
| Sep 30, 2024 | 1.94 Bn |
| Jun 30, 2024 | 1.79 Bn |
| Mar 31, 2024 | 1.56 Bn |
| Dec 31, 2023 | 1.59 Bn |
| Sep 30, 2023 | 1.80 Bn |
| Jun 30, 2023 | 1.63 Bn |
| Mar 31, 2023 | 1.65 Bn |
| Dec 31, 2022 | 1.59 Bn |
API Access
Morgan Stanley Direct Lending Fund Total Liabilities 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=total-liabilities&ticker=MSDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "total-liabilities", "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=total-liabilities&ticker=MSDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();