Morgan Stanley Direct Lending Fund posted a net increase in net assets from operations of USD 7.93 million, down from USD 36.1 million a year earlier.
Total investment income fell 10.79% to USD 88.77 million, reflecting declining base rates and repricings that pushed weighted-average yield at cost to 9.1%.
Net investment income after taxes slipped to USD 38.16 million from USD 43.66 million; net expenses eased to USD 49.81 million from USD 55.65 million.
Net realized loss widened to USD 7.43 million from USD 91,000, driven by restructurings of first lien loans in Abracon Group Holdings and Vardiman Black Holdings.
Post-quarter developments
After quarter-end, it issued USD 350 million of 6.100% 2031 Notes, later declaring a USD 0.45-per-share distribution payable around Oct. 23.
MSDL•
