Morgan Stanley Direct Lending Fund Dossier
Outlook & Key Dates
Estimates, guidance, catalysts, and upcoming events
Analyst Estimates Learn more →
5-Yr Fwd EPS Growth
-4.9%projected annual EPS growth
Analyst Coverage
7analysts covering
FY EPS (est.)
$1.80next fiscal year
Reporting Calendar
| Event | Expected Date |
|---|---|
| Q3 2026 Earnings Release | 5 Nov 2026 |
Monitoring Framework
Key Performance Indicators
Net Asset Value (NAV) per Share Quarterly19.8Target: Maintain NAV stability above $20.00
Net Investment Income (NII) per Share Quarterly0.5Target: Fully cover the regular quarterly dividend of $0.45
Non-Accrual Rate (at Cost) Quarterly150.0%Target: Keep non-accruals below 2.0% of total investments
Debt-to-Equity Ratio Quarterly122.0%Target: Target leverage range of 100x to 1.25x%
Watch Items
- Base Rate Fluctuations (SOFR)Trigger: SOFR falling below 4.0%Action: Assess the impact of floating-rate loan yields on total investment income and evaluate hedging or asset-mix adjustments.
- Portfolio Credit DeteriorationTrigger: Non-accruals exceeding 2.5% of the portfolio at costAction: Conduct deep-dive credit reviews of underperforming middle-market borrowers and increase restructuring engagement.
- Joint Venture Scaling (Capstone Lending LLC)Trigger: JV asset growth failing to reach $700 million targetAction: Review capital call efficiency and origination pipeline with the institutional JV partner to accelerate deployment.
Research as of 20 Jun 2026