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Morgan Stanley Direct Lending Fund (MSDL)

BDC - Debt Focused BDC

Data as of Feb. 23, 2024
Market Price $20.20 (- $0.30)
NAV (Sept. 30, 2023) $20.57 ( $0.00)
Fund Listed NYSE
Premium / Discount -1.80% (-1.46%)
Fund Info
Inception Nov. 25, 2019
Sponsor MS Capital Partners Adviser
Website https://www.msdl.com/
Location New York
Incorporated Delaware
Staggered Board Yes
Term Date N/A
Objective: attractive risk-adjusted returns via current income and, to a lesser extent, capital appreciation by investing in senior secured term loans of U.S. middle-market companies.
Capital & Leverage
Outstanding Shares 83,293,937
Total Assets (Reported: Sept. 30, 2023) $3,276M
Estimated Total Assets $3,602M
Net Assets $1,713M
Market Cap $1,683M
Portfolio Turnover 7.42%
Debt-to-Equity 1.1599
Total Leverage 52.44%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 12.19%
Non Lev Exp Ratio 3.94%
Gross Asset Expense Ratio 5.36%
Gross Asset Non Lev Exp Ratio 1.73%
Rel Lev Cost 6.91%
Discount Data
Average Discount (3 Yr) -0.53%
Discount Low(3 Yr) -1.41%
Discount High(3 Yr) 0.39%
Discount Rel Range (3 Yr) 59.46%
Comp Discount 1.66
Discount St Dev (1Yr) 0.57
Z-Stat (6mo) 0.33
Z-Stat (1Yr) 0.33
Z-Stat (3Yr) 0.33
Comp Z-Stat (6mo) -0.36
Comp Z-Stat (3Yr) 0.07
Distribution Data
Market Yield 0.00%
Income Yield 0.00%
Lev Adj NAV Yield 0.00%
Av Yield on Debt Investments 12.10
Distribution Frequency
Current Distribution $
Current Income $
Payable Date
Div Growth (3yr) %
Dividend Change % on
Expected Div
RoC (1yr) %
RoC (3yr) %
Volume & Liquidity
Average Daily $ (K) $3,144
Avg Volume 30 day 155,622
Avg Volume 90 day 155,622
Volume Trend 0.00%
Comp Volume Trend 10.96%
Correlation & Volatility
Price St Dev (1Yr) 9.6%
NAV St Dev (1Yr) 0.0%
Earnings / Share (9/30/23) $
Adj Core NII Coverage %
1 Yr Avg NII Coverage %
1 Yr Avg Adj Core NII Coverage %
NII Trend %
Adj Core NII Trend %
Price Beta (2yr)
vs. S&P 500 (TR)
Price Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Beta (2yr)
vs. CEFA's Debt-Focused Business Development Company (BDC) Index
Portfolio Data
Avg Libor Floor % 0.89%
% Loans with Libor Floor 99%


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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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