MSDL: Attractive Entry Point On Lock-Up Expiry In This 11.6% Yielding BDC

tadamichi In this article, we take a look at the Q2 results for the BDC Morgan Stanley Direct Lending Fund (NYSE:MSDL). MSDL falls under the $18bn Morgan Stanley private credit platform, which itself sits under the $1.5trn Morgan Stanley Investment Management. The company completed its initial public offering earlier this year, after operating as a private BDC for several years. MSDL trades at an 11.6% yield - above the median in our coverage, and a slight discount to book. MSDL delivered a 3.3% total NAV r ...