Know the company
Company overview
Blackstone Secured Lending Fund makes secured loans to private businesses. Interest and lending fees provide its recurring income, while borrowing costs, operating expenses and management fees come out before shareholders are paid. Net investment income is the useful comparison with the dividend. Sales, repayments and changing loan values can add gains or losses, but those are different from the interest earned each quarter.
- Business
- BDC
- Listing
- BXSL · XNYS
- Reporting period
- 2026-06-30
- Dividend schedule
- Quarterly
How the business works
BXSL’s distribution capacity begins with interest and fee income from its loan portfolio. Higher short-term interest rates can support income from floating-rate loans, although higher rates can also pressure borrowers and raise BXSL’s own funding costs. Portfolio growth, loan repayments, new investment originations, credit losses, fee income, leverage, and expenses all influence the net investment income available for distributions. As a regulated investment company, a BDC generally seeks to distribute most of its taxable income, but taxable income and net investment income per share are not identical measures.
Blackstone Secured Lending Fund: 10-Q supporting reported earnings