Company: BXSL
Filing Date: 2025-03-14
Form Type: 40-APP
Source: 0001193125-25-054849
Chunk: 13

Company: Blackstone Secured Lending Fund
Filing Date: 2025-03-14
Form: 40-APP
Chunk 13
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 is the world’s largest alternative asset manager. Blackstone’s more than $1.1 trillion in total assets under management as of December 31, 2024 include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Blackstone’s four business segments are (1) real estate, (2) private equity, (3) credit & insurance and (4) multi-asset investing. Blackstone’s asset management businesses include private investment funds, registered funds, BDCs, real estate investment trusts, collateralized loan obligation vehicles, separately managed accounts and other vehicles focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets and secondary funds. Many of Blackstone’s private investment funds and other vehicles are targeted at institutional investors. Blackstone also has several products that are targeted at individual investors, including high-net-worth investors. A complete list of the Existing Advisers is included in Appendix B. 7

| J. | Existing Affiliated Entities |

Existing Affiliated Entities include, but are not limited to, Blackstone affiliates that hold various financial assets in a principal capacity (i.e., proprietary accounts), Blackstone-sponsored non-U.S.retail investment funds, and Blackstone affiliates (including private funds and insurance companies) that would be investment companies but for Section 3(c) of the 1940 Act or Rule 3a-7thereunder. A complete list of the Existing Affiliated Entities is included in Appendix B.

| III. | ORDER REQUESTED |

The Applicants request an Order of the Commission under Sections 17(d) and 57(i) of the 1940 Act and Rule 17d-1thereunder to permit, subject to the terms and conditions set forth below in this Application (the “ Conditions”), each Regulated Fund to be able to participate with one or more Affiliated Entities in Co-InvestmentTransactions otherwise prohibited by Sections 17(d) and 57(a)(4) of the 1940 Act and Rule 17d-1thereunder.

| A. | Applicable Law |

Section 17(d), in relevant part, prohibits an affiliated person, or an affiliated person of such affiliated person, of a registered investment company, acting as principal, from effecting any transaction in which the registered investment company is “a joint or a joint and several participant with such person” in contravention of such rules as the SEC may prescribe “for the