Morgan Stanley Direct Lending Fund (MSDL) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Please stand by. We are about to begin. Welcome to the Morgan Stanley Direct Lending Fund's fourth quarter and full year 2025 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the prepared remarks. As a reminder, this conference is being recorded. At this time, I'd like to turn the call over to Santa Johnson, head of investor relations. Please go ahead. Good morning, and welcome to Morgan Stanley Direct Lending Fund's fourth quarter and full year 2025 earnings call. I am joined this morning by Michael Osi, Chief Executive Officer, Jeff Day, Co-President, David Pessa, Chief Financial Officer, and Rebecca Shaul, Head of Portfolio Management. Morgan Stanley Direct Lending Fund's fourth quarter and full year 2025 financial results were released yesterday after market close and can be accessed on the Investor Relations section of our website at www.mscl.com. We have arranged for a replay of today's events that will be accessible from the Morgan Stanley Direct Lending Fund website. During this call, I want to remind you that we may make forward-looking statements based on current expectations. The statements on this call that are not purely historical are forward-looking statements. These forward-looking statements are not a guarantee of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements, including and without limitation market conditions, uncertainty surrounding interest rates, changing economic conditions, and other factors we have identified in our filings with the SEC. Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any ...