Morgan Stanley (NYSE:MS) Direct Lending Fund (NYSE:MSDL), a $1.87 billion market cap business development company currently trading at $21.18, has announced the appointment of Michael Occi as its new President effective January 1, 2025. The current President, Jeffrey S. Levin, will step down from his role but will continue to serve as the Chief Executive Officer of the company. According to InvestingPro data, the company stands out for its significant 9.44% dividend yield.
Occi, 40, has been with Morgan Stanley since 2006 and has served as Chief Administrative Officer of the company since January 2023. He will relinquish this position upon assuming his new role as President. He has been a Managing Director of Morgan Stanley Investment Management since April 2022.
Before that, he led the Financial Institutions Equity Capital Markets from May 2019 to April 2022 and held various other roles within the company. For detailed analysis and additional insights, investors can access comprehensive research reports on InvestingPro, which covers over 1,400 US equities including MSDL.
The executive transition was disclosed in a regulatory filing with the Securities and Exchange Commission on Friday, December 27, 2024. Occi’s experience includes a tenure as Head of Financial Institutions Equity Capital Markets and roles in Fixed Income Capital Markets and the Investment Banking Division.
In addition to his appointment at Morgan Stanley Direct Lending Fund, Occi will also become President of several other business development companies that share the same investment adviser, including North Haven Private Income Fund LLC and SL Investment Fund II LLC, effective January 1, 2025.
Occi holds a BA in Finance and Accounting from Georgetown University, where he graduated magna cum laude. The company's filing also noted that Occi does not have any family relationships with current directors or executive officers of the company, nor is he involved in any transactions that would require disclosure under SEC regulations.
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