Morgan Stanley Direct Lending Fund
MSDL
Market cap $1.84B

20.76 USD

-0.08

0.38%

At close Dec 23, 4:00 PM EST

1 day

-0.38%

5 days

-2.31%

1 month

-0.19%

3 months

3.08%

6 months

-9.78%

Year to date

0.58%

1 year

0.58%

5 years

0.58%

10 years

0.58%

About: Morgan Stanley Direct Lending Fund is a fund whose investment objective is to achieve attractive risk-adjusted returns via current income and, to a lesser extent, capital appreciation by investing predominantly in directly originated senior secured term loans issued by U.S. middle-market companies backed by private equity sponsors. It invests predominantly in directly originated senior secured term loans including first lien senior secured term loans including unitranche loans and second lien senior secured term loans, with the balance of the investments expected to be in higher-yielding assets such as mezzanine debt, unsecured debt, equity investments and other opportunistic asset purchases.

0

Funds holding %

of 6,809 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

680% more first-time investments, than exits

New positions opened: 39 | Existing positions closed: 5

233% more repeat investments, than reductions

Existing positions increased: 10 | Existing positions reduced: 3

189% more funds holding

Funds holding: 18 [Q2] → 52 (+34) [Q3]

8% more capital invested

Capital invested by funds: $309M [Q2] → $334M (+$25.1M) [Q3]

3.1% more ownership

Funds ownership: 15.8% [Q2] → 18.9% (+3.1%) [Q3]

0% more funds holding in top 10

Funds holding in top 10: 1 [Q2] → 1 (+0) [Q3]

78% less call options, than puts

Call options by funds: $386K | Put options by funds: $1.77M

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Research analyst outlook

We haven’t received any recent analyst ratings for MSDL.

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Financial journalist opinion

Based on 9 articles about MSDL published over the past 30 days

Worried About Higher For Longer? Sleep Well With This 7%-Yielding Portfolio

The threat of higher inflation and interest rates for longer has sent the market into turmoil. However, high yield investors have nothing to fear from this development. We share a 7%-yielding portfolio that is well-positioned to weather the current macro environment.

Worried About Higher For Longer? Sleep Well With This 7%-Yielding Portfolio

I Am Loading Up On These 2 High-Flying High-Yield Sectors For 2025

AI stocks have dominated the markets over the past few years. However, there are a few other sectors that have also shined over the past few years. I share two high-flying big dividend sectors that, I think, will continue to outperform in 2025.

I Am Loading Up On These 2 High-Flying High-Yield Sectors For 2025

KBRA Assigns Ratings to Morgan Stanley Direct Lending Fund

NEW YORK--(BUSINESS WIRE)-- #KBRA--KBRA assigns issuer and senior unsecured debt ratings of BBB to Morgan Stanley Direct Lending Fund (NYSE: MSDL or "the company"). The rating Outlook is Stable. Key Credit Considerations The ratings and Outlook are supported by Morgan Stanley Direct Lending Fund's strong ties to the ~$1.5 trillion assets under management and/or supervision from Morgan Stanley Asset Management. The company benefits from investment banking, global capital markets, investment management,.

KBRA Assigns Ratings to Morgan Stanley Direct Lending Fund

Morgan Stanley Direct Lending: High Quality At 9.4% Yield, Does Not Get Better Than This

My first bullish piece on MSDL was issued back in April 2024. It was also the second article covering MSDL on Seeking Alpha. Since the publication of my thesis, MSDL has gradually become a 'household name' among BDC investors. The good news is that looking at the current financials, the case for durable, close to double digit yield, remains intact.

Morgan Stanley Direct Lending: High Quality At 9.4% Yield, Does Not Get Better Than This

Morgan Stanley Direct Lending Is Too Good To Miss Out On; Highly Defensive

Morgan Stanley Direct Lending Fund is a highly defensive BDC focusing on first-lien debt in non-cyclical sectors, ensuring stable cash flows and low technological risks. The current regular DPS coverage is attractive at ~119%, but further Fed rate cuts could impact dividend coverage due to MSDL's floating-rate debt investments. MSDL's valuation is appealing, with the potential to reestablish the premium, ensuring capital gathering effectiveness.

Morgan Stanley Direct Lending Is Too Good To Miss Out On; Highly Defensive

Invest In $95,000 BDC Portfolio For $10,000 Annual Income And Durable Compounding

Private credit/BDC investments offer exposure to structural growth and a significant portfolio yield enhancement. Yet, we have to be extra careful of not falling into value traps and investing in unsustainable yields, which are abundant in the inherently risky sector. In this article, I share a BDC portfolio that has ~10.5% yield, healthier fundamentals than the average in the space, and, importantly, meaningful price appreciation potential.

Invest In $95,000 BDC Portfolio For $10,000 Annual Income And Durable Compounding

Morgan Stanley Direct Lending: A Low-Risk 10% Yield

Morgan Stanley Direct Lending Fund offers a 10% dividend yield, strong brand backing, and growth potential, making it an appealing choice for income investors. The fund's low-risk portfolio, with 96% in senior secured debt, and diversified borrower base reduce overall investment risk. Despite interest rate declines, MSDL's portfolio growth and low leverage levels have maintained stable net investment income per share.

Morgan Stanley Direct Lending: A Low-Risk 10% Yield

Who Said ~ 9% Yields Cannot Grow Further? Consider These 2 Picks

Usually, high yields come with high chances of falling into a value trap. It is very difficult to find truly protected yields. It is even more difficult to combine yield protection with income growth.

Who Said ~ 9% Yields Cannot Grow Further? Consider These 2 Picks

12% Yield And Big Buyback: Dividend Stocks I Am Buying Hand-Over-Fist

I love stocks that pay big dividends and buy back a lot of stock. I share some dividend stocks that meet these criteria. I detail why they are compelling buys right now.

12% Yield And Big Buyback: Dividend Stocks I Am Buying Hand-Over-Fist

Investing In BDCs For 10%+ Yields? This Is What Matters Now

When investing for 10%+ BDC yields, investors have to pay extra attention to leverage, dividend coverage, and portfolio quality. Going into Q3, 2024 earnings season, my expectation was that we would see elevated volatility levels and falling NII results. While the actual results have been mostly positive for high-quality BDCs (and even for some speculative picks), many risks remain open.

Investing In BDCs For 10%+ Yields? This Is What Matters Now

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