Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 642

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 642
---
$12,976,765 Net change in unrealized appreciation (depreciation) included in earnings related to financial instruments still held as of December 31, 2024 included in net change in unrealized appreciation (depreciation) on the Consolidated Statements of Operations$(33,283)$(1,619)$(118)$356 $(34,664)

210

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, 2023First Lien DebtSecond Lien DebtUnsecured DebtEquityTotalFair value, beginning of period$9,275,511 $46,336 $— $150,949 $9,472,796 Purchases of investments1,492,985 1,935 9,924 3,915 1,508,759 Proceeds from principal repayments and sales of investments(1,114,974)(7,351)— (65,465)(1,187,790)Accretion of discount/amortization of premium50,516 58 6 — 50,580 Net realized gain (loss)(15,095)(49)— 13,482 (1,662)Net change in unrealized appreciation (depreciation)(37,739)586 (6)(7,941)(45,100)Transfers into Level 3 (1)4,938 — — — 4,938 Transfers out of Level 3 (1)(91,939)— — — (91,939)Fair value, end of period$9,564,203 $41,515 $9,924 $94,940 $9,710,582 Net change in unrealized appreciation (depreciation) included in earnings related to financial instruments still held as of December 31, 2023 included in net change in unrealized appreciation (depreciation) on the Consolidated Statements of Operations$(38,013)$374 $(6)$(6,437)$(44,082)(1)For the years ended December 31, 2024 and 2023, transfers into or out of Level 3 were primarily due to decreased or increased price transparency.

The following tables present quantitative information about the significant unobservable inputs of the Company’s Level 3