Company: BXSL
Filing Date: 2025-04-24
Form Type: 40-APP/A
Source: 0001193125-25-093651
Chunk: 24

Company: Blackstone Secured Lending Fund
Filing Date: 2025-04-24
Form: 40-APP/A
Chunk 24
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 plan, contract, authorization or arrangement or any practice or understanding concerning an enterprise or undertaking whereby a registered investment        
 company … and any affiliated person of or principal underwriter for such registered company, or any affiliated person of such a person or principal underwriter, have a joint or a joint and several participation, or share in the profits of such 
 enterprise or undertaking ….”                                                                                                                                                                                                                       |

6

business days after the settlement date for the Regulated Fund, and vice versa). If a Participant, but not all of the Regulated Funds, has the right to nominate a director for election to a portfolio company’s board of directors, the right to appoint a board observer or any similar right to participate in the governance or management of a portfolio company, the Board of each Regulated Fund that does not hold this right must be given the opportunity to veto the selection of such person. 13 2. Existing Investments in the Issuer. Prior to a Regulated Fund acquiring in a Co-InvestmentTransaction a security of an issuer in which an Affiliated Entity has an existing interest in such issuer, the “required majority,” as defined in Section 57(o) of the 1940 Act, 14of the Regulated Fund (“ Required Majority”) will take the steps set forth in Section 57(f) of the 1940 Act, 15unless: (i) the Regulated Fund already holds the same security as each such Affiliated Entity; and (ii) the Regulated Fund and each other Affiliated Entity holding the security is participating in the acquisition in approximate proportion to its then-current holdings. 3. Related Expenses. Any expenses associated with acquiring, holding or disposing of any securities acquired in a Co-InvestmentTransaction, to the extent not borne by the Adviser(s), will be shared among the Participants in proportion to the relative amounts of the securities being acquired, held or disposed of, as the case may be. 16 4. No Remuneration. Any transaction fee 17(including break-up,structuring, monitoring or commitment fees but excluding broker’s fees contemplated by section 17(e) or 57(k) of the 1940 Act, as applicable), received by an Adviser and/or a Participant in connection with a Co-InvestmentTransaction will be distributed to the Participants on a pro rata basis based on the amounts they invested or committed, as the case may be, in such Co-InvestmentTransaction. If any transaction fee is to be held by an Adviser pending consummation of the