Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 675

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 675
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 increase (decrease) in net assets0.73 0.73 (0.34)1.07 Net asset value, end of period$27.39 $26.66 $25.93 $26.27 Market value, end of period$32.31 $27.64 $22.35 $34.00 Shares outstanding, end of period221,892,184 185,782,408 160,362,861 169,274,033 Total return based on NAV (3)13.7 %14.7 %10.3 %12.6 %Total return based on market value (4)29.8 %37.4 %(26.1)%32.1 %Ratios:Ratio of net expenses to average net assets (5)11.2 %10.9 %8.4 %7.2 %Ratio of net investment income to average net assets (5)12.8 %14.6 %11.1 %9.3 %Portfolio turnover rate6.9 %13.4 %9.9 %35.4 %Supplemental Data:Net assets, end of period$6,076,521$4,952,041$4,158,966$4,447,479Asset coverage ratio185.7 %200.3 %174.8 %180.2 %

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Table of ContentsBlackstone Secured Lending FundNotes to Consolidated Financial Statements(in thousands, except share amounts, per share data, percentages and as otherwise noted)

 For the Year Ended December 31,For the Period Ended December 31,202020192018 (6)Per Share Data (1):Net asset value, beginning of period$26.02 $24.57 $25.00 Net investment income2.51 2.18 0.17 Net change in unrealized and realized gain (loss)(0.22)0.96 (0.57)Net increase (decrease) in net assets resulting from operations2.29 3.14 (0.40)Distributions declared (2)(2.30)(2.00)— Net increase (decrease) in net assets from capital share transactions(0.81)0.31 (0.03)Total increase (decrease) in