# Muzinich Direct Lending Adviser, LLC

> Muzinich Direct Lending Adviser, LLC is an SEC-registered investment advisory firm in New York, NY, registered since 2023, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated June 17, 2026.

- CRD: 327891
- Filed as: MUZINICH DIRECT LENDING ADVISER, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: June 17, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/327891
- AdvisorCensus page: https://advisorcensus.com/firm/muzinich-direct-lending-adviser-llc-new-york-ny-327891

## Quick answers

**How is Muzinich Direct Lending Adviser, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Muzinich Direct Lending Adviser, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Muzinich Direct Lending Adviser, LLC located?**
Muzinich Direct Lending Adviser, LLC's principal office is in New York, NY, according to its Form ADV.

**Is Muzinich Direct Lending Adviser, LLC registered with the SEC or a state?**
Muzinich Direct Lending Adviser, LLC is an SEC-registered investment advisory firm, registered since 2023. Status as filed: Approved. CRD 327891.

**How much does Muzinich Direct Lending Adviser, LLC manage?**
Muzinich Direct Lending Adviser, LLC reports $98,041,168 in regulatory assets under management in its Form ADV filing dated June 17, 2026 (100% discretionary).

**How have Muzinich Direct Lending Adviser, LLC's assets and staff changed since 2023?**
In the Form ADV data for Muzinich Direct Lending Adviser, LLC: Regulatory assets under management: $1,000 in the October 2024 data and $98,041,168 in the October 2026 data, up 9804017%. Total employees: 24 in October 2023 and 48 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Muzinich Direct Lending Adviser, LLC serve?**
By number of clients on Form ADV Item 5.D: business development companies (1).

**Does Muzinich Direct Lending Adviser, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/327891

**What changed in Muzinich Direct Lending Adviser, LLC's recent Form ADV filings?**
In the July 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $98,041,168
- Discretionary: $98,041,168
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | Not reported |
| High net worth individuals | 0 | Not reported |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 1 | $98,041,168 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | Not reported |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 0 | Not reported |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 0 | Not reported |
| Other | 0 | Not reported |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)

### Firm details
- Registered since: 2023 (3 years)
- Employees: 48 total, 26 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- muzinich.com
- muzinichprivatedebt.com
- LinkedIn @muzinich-co

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2023 | Not reported | 24 | September 19, 2023 |
| October 2024 | $1,000 | 41 | June 5, 2024 |
| October 2025 | $101,081,739 | 47 | May 12, 2025 |
| October 2026 | $98,041,168 | 48 | June 17, 2026 |

Regulatory assets under management: $1,000 in the October 2024 data and $98,041,168 in the October 2026 data, up 9804017%.
Total employees: 24 in October 2023 and 48 in October 2026.

## Changes in the filing (last 12 months)

### July 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 27 to 26.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Muzinich Direct Lending Adviser, LLC (CRD 327891): Form ADV filing data as of October 2026.