---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-269710"
form_type: "8-K"
ticker: "MSDL"
cik: "0001782524"
company_name: "Morgan Stanley Direct Lending Fund"
filed_at: "2025-11-06T23:59:59+00:00"
generated_at: "2026-05-16T23:54:31.727604+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Morgan Stanley Direct Lending Fund Q3 2025: NII $0.50/sh, NAV $20.41, dividend $0.50

## Summary
- Net investment income $43.7M ($0.50/sh), flat vs prior quarter; NAV $20.41/sh, down from $20.59.
- New investment commitments $183M net; inaugural $401M CLO closed at S+1.70%; debt-to-equity 1.17x.
- Regular quarterly dividend of $0.50/sh declared, payable Jan 23, 2026 to holders of record Dec 31, 2025.
- Company repurchased 151,417 shares at avg $18.78 in Q3; no shares issued under ATM.

## SEC filing metadata
- accession: 0001193125-25-269710
- form_type: 8-K
- ticker: MSDL
- cik: 0001782524
- company_name: Morgan Stanley Direct Lending Fund
- filed_at: 2025-11-06T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1782524/000119312525269710/0001193125-25-269710-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1782524/000119312525269710/d928814d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-269710
- JSON: https://secwatch.observer/filing/0001193125-25-269710.json
- Plain text: https://secwatch.observer/filing/0001193125-25-269710.txt

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