Morgan Stanley Launches $300M ATM Offering with Ropes & Gray's Guidance
Deal News | Apr 07, 2025 | Ropes & Gray
On March 31, Morgan Stanley Direct Lending Fund launched a $300 million at-the-market (ATM) offering. The move was facilitated by Ropes & Gray, who acted as advisors to the sales agents involved in the process. Morgan Stanley Direct Lending Fund, functioning as a business development company, aims to achieve significant risk-adjusted returns by investing mainly in directly originated senior secured term loans to U.S. middle-market businesses. The ATM offering aligns with their strategy to capitalize on diverse investment opportunities while navigating the current business landscape.
Sectors
- Financial Services
- Investment Banking
Geography
- United States – The article primarily involves U.S.-based entities and investments, particularly in U.S. middle-market companies.
Industry
- Financial Services – The article focuses on the financial services industry, specifically related to business development companies and direct lending funds.
- Investment Banking – Morgan Stanley's involvement in the $300 million ATM offering places the event squarely within the sphere of investment banking activities.
Financials
- $300 million – The total amount raised through the at-the-market (ATM) offering by Morgan Stanley Direct Lending Fund.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Morgan Stanley Direct Lending Fund | Target | Company | A business development company targeting high risk-adjusted returns through investments in directly originated senior secured term loans. |
| Ropes & Gray | Legal Advisor | Company | Served as legal advisors to the sales agents in the ATM offering conducted by Morgan Stanley Direct Lending Fund. |