Morgan Stanley Direct Lending Fund (MSDL) Q2 FY26 earnings call

Morgan Stanley Direct Lending Fund navigated a transitional Q2 FY26 with solid portfolio health and strategic capital management. While net investment income saw a slight contraction and NAV experienced some pressure from specific nonaccruals, the company proactively managed its balance sheet through financing initiatives and share repurchases. The Capstone JV continues to be a growing contributor, and management remains confident in its ability to deliver value amidst evolving market dynamics.