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Morgan Stanley

MSDL

Morgan Stanley Direct Lending Fund is a specialty finance company that operates as a business development company focused on providing customized financing solutions to U.S. middle-market companies.

Market cap
$1.3B-20.6%
Net income$87.9M-54.6%
EPS (diluted)$1.01-53.7%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 6, 2026 (In 1 week)
Revenue estimate$90.0M
EPS estimate$0.44

Financials

Q1 2026

Income statement

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Net income-$4.5M-115%
EPS (diluted)-$0.05-115%

Balance sheet

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Cash & equivalents$80.7M+16.2%
Total debt$2.1B+2.2%
Total equity$1.7B-7.0%
Total assets$3.8B-2.2%

Cash flow

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Operating cash flow$86.3M+153%

Valuation & ratios

Valuation

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Market cap$1.3B-20.6%
Enterprise value$3.27B-10.8%
P/E14.8×+5.0×

Returns & leverage

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Return on equity5%-5.6pp
Debt / equity1.2×+0.1×

Competitors

Profile

Morgan Stanley Direct Lending Fund is a specialty finance company that operates as a business development company focused on providing customized financing solutions to U.S. middle-market companies. The firm primarily invests in directly originated senior secured term loans, including first lien and unitranche structures, to generate attractive risk-adjusted returns through current income and capital appreciation. Its strategy emphasizes lending to companies backed by leading private equity sponsors in non-cyclical industry sectors.

Competitive position

The company leverages the global resources, brand, and deep private equity relationships of the Morgan Stanley platform to source and underwrite proprietary middle-market lending opportunities.

GeographiesUnited States, Canada, United Kingdom, European Union, Australia, Japan
Customer segmentsMiddle-market companies, Private equity sponsors
Business modelInvestment Management, Direct Lending
SuppliersInstitutional and retail equity investors, Debt capital providers, Credit facility lenders
CustomersMiddle-market portfolio companies, Private equity firms
Listed2024
CEOMichael Occi Jr.
Websitemsdl.com
FilingsSEC EDGAR

Questions, answered.

What is Morgan Stanley's market cap?
Morgan Stanley (MSDL) has a market capitalization of $1.3B and trades on NYSE.
Who are Morgan Stanley's competitors?
Morgan Stanley's key competitors include Blue Owl Capital, Blackstone Secured Lending Fund, Ares Capital Corporation, and others. These companies compete in similar markets and product categories.
Who does Morgan Stanley partner with?
Morgan Stanley's notable partners include Morgan Stanley, State Street Bank and Trust Company, Moody's Investors Service, and others.
What subsidiaries does Morgan Stanley have?
Morgan Stanley's subsidiaries include MS Capital Partners Direct Lending Fund Adviser, MS Capital Partners Direct Lending Fund Administrator.
Where is Morgan Stanley headquartered?
Morgan Stanley is headquartered in United States of America. It has been publicly traded since 2024.