Morgan Stanley Direct Lending Fund Surveillance Report
Company Profile
Morgan Stanley Direct Lending Fund (NYSE: MSDL or “the company”) is a New York based, non-diversified, externally managed, publicly traded closed-end investment management company regulated as a business development company (“BDC”) under the Investment Company Act of 1940. For tax purposes, the company has elected to be treated as a regulated investment company (“RIC”).
MSDL was formed as a Delaware limited liability company in May 2019 and converted to a Delaware corporation in November 2019. The company commenced operations in January 2020 and closed its initial public offering on January 26, 2024. The company’s adviser is MS Capital Partners Adviser Inc. (“MS Capital” or “the Adviser”). MS Capital is a wholly owned subsidiary of Morgan Stanley (“MS”), a leading global investment bank.
MSDL is not a subsidiary of, or consolidated with, MS, which has no obligation to financially support or guarantee MSDL and while MS owned 11.5% of MSDL as of…
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