Company: BXSL
Filing Date: 2025-07-11
Form Type: N-2ASR
Source: 0001213900-25-063269
Chunk: 26

Company: Blackstone Secured Lending Fund
Filing Date: 2025-07-11
Form: N-2ASR
Chunk 26
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. The investment team regularly reviews investments and related market conditions in order to determine if an opportunity exists to realize returns on a particular investment. We believe the Advisers’ ability to utilize the entire resources of Blackstone Credit & Insurance, including the public market traders, research analysts and capital markets functions, allows the Advisers to gain access to current market information where the opportunity may exist to sell positions into the market at attractive prices. Co-Investment Relief We have in the past co -invested, and in the future will co -invest, with certain affiliates of Blackstone and the Advisers. The Company has received an exemptive order from the SEC that permits the Company, among other things, to co -investwith certain other persons, including certain affiliates of Blackstone and the Advisers and certain funds managed and controlled by Blackstone, the Advisers and their respective affiliates, subject to certain terms and conditions. Pursuant to such order, the Board has approved co -investmentpolicies and procedures describing how the Company will comply with the co -investmentexemptive relief. Further, the Advisers have adopted co -investmentpolicies and procedures describing the allocation of co -investmentopportunities in which the Company will have the opportunity to participate with one or more Blackstone and Blackstone Credit & Insurance BDCs, other Regulated Funds (as defined below) and other public or private Blackstone and Blackstone Credit & Insurance funds that target similar assets. “Regulated Funds” are other Blackstone or Blackstone Credit & Insurance clients that are closed -endmanagement investment companies that have elected to be regulated as a BDC or are registered under the 1940 Act and who intend to rely on the exemptive order. If Blackstone Credit & Insurance considers an investment that is consistent with our then -currentinvestment objectives and strategies, Blackstone Credit & Insurance must present the Company with the opportunity to participate in the investment. The Company may determine to participate or not to participate, depending on whether Blackstone or Blackstone Credit & Insurance determine that the investment is appropriate for the Company (e.g., based on investment strategy). If the Company does participate, the co -investmentis generally allocated to the Company, any other Blackstone Credit & Insurance BDCs and other Regulated Funds (including Blackstone Private Credit Fund) and the other Blackstone and Blackstone Credit & Insurance funds participating in the investment pro rata based on available capital in the applicable asset class. If the Advisers determine that such investment is not appropriate for the Company or