Company: BXSL
Filing Date: 2025-03-14
Form Type: 40-APP
Source: 0001193125-25-054849
Chunk: 21

Company: Blackstone Secured Lending Fund
Filing Date: 2025-03-14
Form: 40-APP
Chunk 21
---
 equitable to every Regulated Fund; and (ii) the Adviser negotiating the Co-InvestmentTransaction considers the interest in the Transaction of any participating Regulated Fund. The Co-InvestmentPolicies will require an Adviser to make an independent determination of the appropriateness of a Co-InvestmentTransaction and the proposed allocation size based on each Participant’s specific investment profile and other relevant characteristics.

| V. | PRECEDENTS |

The Commission has previously issued orders permitting certain investment companies subject to regulation under the 1940 Act and their affiliated persons to be able to participate in Co-InvestmentTransactions (the “ Existing Orders”). 24Similar to the Existing Orders, the Conditions described herein are designed to mitigate the possibility for overreaching and to promote fair and equitable treatment of the Regulated Funds. Accordingly, the Applicants submit that the scope of investor protections contemplated by the Conditions are consistent with those found in the Existing Orders.

| 24 | See, e.g., Polen Credit Opportunities Fund, et al. (File                                                                                                                                                                                                                           
 No. 812-15457) Release No. IC-35183 (May 2, 2024) (notice), Release No. IC-35206 (May 28, 2024) (Order); Sound Point                                                                                                                                                               
 Meridian Capital, Inc., et al. (File No. 812-15476-01) Release No. IC-35173 (April 19, 2024) (notice), Release No. IC-35192 (May 15, 2024) (order); Brookfield Infrastructure Income Fund Inc., et al. (File No. 812-15415), Release No.                                           
 IC-35001 (September 20, 2022) (notice), Release No. IC-35032 (October 17, 2023) (order); T. Rowe Price OHA Select Private Credit Fund, et al. (File No. 812-15461), Release No. IC-34963 (July 24, 2023) (notice), Release No. IC-34987 (August 21, 2023) (order); KKR Real Estate 
 Select Trust Inc., et al. (File No. 812-15181), Release No. IC-34962 (July 18, 2023) (notice), Release No. IC-34985                                                                                                                                                                
 (August 15, 2023) (order); MBC Total Private Markets Access Fund, et al.