Business
Morgan Stanley Direct Lending Fund Announces December 31, 2025 Financial Results and Declares First Quarter 2026 Regular Dividend of $0.45 per Share
NEW YORK, February 26, 2026--Morgan Stanley Direct Lending Fund (NYSE: MSDL) ("MSDL" or the "Company"), a business development company externally managed by MS Capital Partners Adviser Inc. (the "Adviser"), today announced its financial results for the fourth quarter and fiscal year ended December 31, 2025.
About this update from Morgan Stanley Direct Lending Fund
[{"type":"text","content":"NEW YORK, February 26, 2026--(BUSINESS WIRE)--Morgan Stanley Direct Lending Fund (NYSE: MSDL) ("MSDL" or the "Company"), a business development company externally managed by MS Capital Partners Adviser Inc. (the "Adviser"), today announced its financial results for the fourth quarter and fiscal year ended December 31, 2025.","length":355,"tagName":"p"},{"type":"text","content":"QUARTERLY HIGHLIGHTS","length":20,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net investment income of $42.4 million, or $0.49 per share, as compared to $43.7 million, or $0.50 per share, for the quarter ended September 30, 2025;","length":151,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Net asset value of $20.26 per share, as compared to $20.41 as of September 30, 2025;","length":84,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Debt-to-equity was 1.20x as of December 31, 2025, as compared to 1.17x as of September 30, 2025;","length":96,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"New investment commitments of $146.5 million (net of any syndications), fundings of $163.8 million and sales and repayments of $162.6 million, resulting in net funded deployment of $1.2 million;","length":194,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"The Company’s Board of Directors (the "Board") declared a regular dividend of $0.50 per share to shareholders of record as of December 31, 2025; and","length":158,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Subsequent to quarter end, the Company launched Capstone Lending LLC, a joint venture ("JV") with an institutional partner (the "JV Partner") with a substantially similar investment strategy as the Company. The Company and the JV Partner each agreed to contribute up to $200.0 million and $50.0 million, respectively, to the JV. Following the initial contribution in February 2026, approximately 47% of the Company’s and JV Partner’s respective total capital commitments were called.","length":503,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":1186,"olType":false},{"type":"text","content":"SELECTED FINANCIAL HIGHLIGHTS","length":29,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1"...