---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-029553"
form_type: "8-K"
ticker: "MSDL"
cik: "0001782524"
company_name: "Morgan Stanley Direct Lending Fund"
filed_at: "2024-03-01T23:59:59+00:00"
generated_at: "2026-06-05T05:43:01.411475+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MSDL reports Q4 2023 NII of $0.67/share, NAV of $20.67; declares Q1 dividend $0.50 plus specials

## Summary
- Net investment income $55.5M, or $0.67/share; NAV per share $20.67, up from $20.57.
- Debt-to-equity dropped to 0.87x from 1.16x; total investments at fair value $3.19B.
- IPO raised ~$97M net proceeds; board approved $100M stock repurchase program below NAV.
- Regular Q1 dividend $0.50/share, plus two special dividends of $0.10 tied to IPO lock-up releases.
- New advisory agreement includes fee waivers through Jan 2025 and incentive fee lookback from June 2024.

## SEC filing metadata
- accession: 0001104659-24-029553
- form_type: 8-K
- ticker: MSDL
- cik: 0001782524
- company_name: Morgan Stanley Direct Lending Fund
- filed_at: 2024-03-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1782524/000110465924029553/0001104659-24-029553-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1782524/000110465924029553/tm247573d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-029553
- JSON: https://secwatch.observer/filing/0001104659-24-029553.json
- Plain text: https://secwatch.observer/filing/0001104659-24-029553.txt

## Key facts
- Earnings Releases
  Morgan Stanley Direct Lending Fund reported financial results for the fourth quarter and fiscal year ended December 31, 2023.
  - Period: the fourth quarter and fiscal year ended December 31, 2023
  - Result: reported results
  source text: On March 1, 2024, Morgan Stanley Direct Lending Fund (the “Company”) issued a press release announcing its financial results for the fourth quarter and year ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1782524/000110465924029553/0001104659-24-029553-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.