Company: BXSL
Filing Date: 2025-01-21
Form Type: 424B2
Source: 0001193125-25-008530
Chunk: 59

Company: Blackstone Secured Lending Fund
Filing Date: 2025-01-21
Form: 424B2
Chunk 59
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 a result, there is and will be uncertainty as to the value of our portfolio investments. |

| • |     | There is a risk that investors in our shares may not receive distributions or that our distributions may decrease over time. |

| • |     | Changes in laws or regulations governing our operations may adversely affect our business, and the impact of financial reform legislation on us is uncertain. |

| • |     | General economic conditions could adversely affect the performance of our investments and our market price. |

| • |     | The current outbreak of the novel coronavirus, or COVID-19, has caused severe disruptions in the U.S. and global economy and already has had and may in the future have a material adverse impact on our financial condition and results of operations. |

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Risks Related to Our Investments

| • |     | We generally will not control our portfolio companies and our investments in prospective portfolio companies may be risky. |

| • |     | Our portfolio companies may incur debt that ranks equally with, or senior to, our investments in such companies and breach covenants or defaults on such debt. |

| • |     | We are exposed to risks associated with changes in interest rates. |

| • |     | Economic recessions or downturns or restrictions on trade could impair our portfolio companies and adversely affect our operating results. |

| • |     | Our portfolio may be concentrated in a limited number of industries, which may subject us to specific risks. |

Risks Related to the Adviser and Its Affiliates

| • |     | The Adviser and its affiliates, including our officers and some of our trustees, face conflicts of interest caused by compensation arrangements with us and our affiliates, which could result in actions that are not in the best interests of our shareholders. |

| • |     | We may be obligated to pay the Adviser incentive compensation even if we incur a net loss due to a decline in the value of our portfolio and the compensation paid to the Adviser is determined without independent assessment. |

| • |     | The Adviser relies on key personnel, the loss of any of whom could impair its ability to successfully manage us. |

Risks Related to Business Development Companies

| • |     | The requirement that we invest a sufficient portion of our assets in assets of the type listed in Section 55(a) of the 1940 Act (“Qualifying Assets”) could preclude us from investing in accordance with our current business strategy; conversely, the