For the quarter ending 2026-03-31, MSDL had -$767K decrease in cash & cash equivalents over the period.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net increase (decrease) in net assets resulting from operations | -4,510 | 28,727 | 93,367 | - |
| Net unrealized (appreciation) depreciation on investments | -31,838 | -5,598 | -40,990 | - |
| Net unrealized (appreciation) depreciation on translation of assets and liabilities in foreign currencies | -11 | 2 | 76 | - |
| Net unrealized (appreciation) depreciation on interest rate swap attributed to unsecured notes | 109 | -75 | 30 | - |
| Net realized (gain) loss on investments | -13,173 | -8,089 | 609 | - |
| Net realized (gain) loss on foreign currency and other transactions | 2 | 1 | 57 | - |
| Investments in unaffiliated money market fund, net | 6,880 | 2,925 | 1,075 | - |
| Net accretion of discount and amortization of premium on investments | 3,517 | 3,420 | 12,268 | - |
| Payment-in-kind interest and dividend capitalized | 4,884 | 4,801 | 13,377 | - |
| Amortization of deferred financing costs | 1,016 | 1,071 | 3,078 | - |
| Amortization of debt issuance costs and original issuance discount on unsecured notes | 1,070 | 1,204 | 3,806 | - |
| Purchases of investments and change in payable for investments purchased | 173,960 | 163,791 | 607,794 | - |
| Proceeds from sale of investments and principal repayments and change in receivable for investments sold/repaid | 235,719 | 176,988 | 594,898 | - |
| (increase) decrease in interest and dividend receivable-Investment Unaffiliated Issuer | 2,078 | -3,516 | -706 | - |
| (increase) decrease in interest and dividend receivable-Investment Affiliated Issuer Noncontrolled | 53 | 43 | 46 | - |
| (increase) decrease in interest and dividend receivable-Investment Affiliated Issuer Controlled | 1,165 | - | - | - |
| (increase) decrease in other assets | -5,227 | -6,128 | 6,179 | - |
| (decrease) increase in payable to affiliates | -8 | -85 | 147 | - |
| (decrease) increase in management fees payable | -166 | -32 | 2,586 | - |
| (decrease) increase in income based incentive fees payable | -1,481 | -2,000 | 325 | - |
| (decrease) increase in interest payable | 3,902 | -1,212 | 952 | - |
| (decrease) increase in accrued expenses and other liabilities | -6,796 | 670 | -2,200 | - |
| Net cash provided by (used in) operating activities | 86,347 | 53,754 | 39,008 | 58,136 |
| Borrowings on debt | 196,000 | 161,000 | 451,000 | 940,345 |
| Repayments on debt | 225,000 | 146,000 | 427,000 | 874,000 |
| Deferred financing costs paid | 59 | 54 | 4,471 | - |
| Proceeds from issuance of common stock, net of underwriting & offering costs | - | 0 | -40 | -123 |
| Debt issuance costs paid | 206 | 127 | 3,355 | 4,078 |
| Distributions paid in cash | 43,138 | 43,405 | 43,482 | 97,145 |
| Repurchases of common stock | 14,711 | 9,111 | 2,843 | 30,009 |
| Deferred financing costs paid | - | - | - | 4,366 |
| Net cash provided by (used in) financing activities | -87,114 | -37,697 | -25,825 | -69,376 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | -767 | 16,057 | 13,183 | -11,240 |
| Effect of foreign exchange rate changes on cash | -10 | -95 | 133 | - |
| Cash, cash equivalents and restricted cash, beginning of period | 81,434 | 65,472 | 63,396 | - |
| Cash, cash equivalents and restricted cash, end of period | 80,657 | 81,434 | 65,472 | - |
Morgan Stanley Direct Lending Fund (MSDL)
Morgan Stanley Direct Lending Fund (MSDL)