Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 487

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 487
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)150,096 134,230 97,154 Capital gains based incentive fees (Note 3)— (5,506)(11,883)Professional fees4,654 6,077 4,011 Board of Trustees’ fees1,086 907 853 Administrative service expenses (Note 3)2,643 2,250 2,672 Other general and administrative3,554 6,115 6,343 Total expenses before tax expense604,782 508,615 404,436 Management fees waived (Note 3)— (20,194)(25,427)Incentive fees waived (Note 3)— (15,604)(13,879)Net expenses before tax expense604,782 472,817 365,130 Net investment income before tax expense722,119 670,700 485,162 Excise and other tax expense14,524 16,795 1,386 Net investment income after tax expense707,595 653,905 483,776 Realized and unrealized gain (loss):Net change in unrealized appreciation (depreciation):Non-controlled/non-affiliated investments(11,241)(36,685)(143,515)Non-controlled/affiliated investments(2,941)(14,156)17,022 Derivative instruments (Note 6)2,401 — — Translation of assets and liabilities in foreign currencies(48)(3,732)4,344 Income tax (provision) benefit(1,656)— — Net change in unrealized appreciation (depreciation)(13,485)(54,573)(122,149)Net realized gain (loss):Non-controlled/non-affiliated investments(18,976)(14,488)37,402 Non-controlled/affiliated investments— 8,283 — Derivative instruments (Note 6)8,784 — — Foreign currency transactions10,179 18,824 5,527 Net realized gain (loss)(13)12,619 42,929 Net realized and change in unrealized gain (loss)(13,498)(41,954)(79,220)Net increase (decrease) in net assets resulting from operations$694,097 $611,951 $404,556 Net investment income per share (basic and diluted)$3.51 $3.90 $2.