Company: BXSL
Filing Date: 2025-07-11
Form Type: 424B2
Source: 0001213900-25-063323
Chunk: 48

Company: Blackstone Secured Lending Fund
Filing Date: 2025-07-11
Form: 424B2
Chunk 48
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 of the other persons in the group makes available such managerial assistance. This assistance could involve, among other things, monitoring the operations of our portfolio companies, participating in board and management meetings, consulting with and advising officers of portfolio companies and providing other organizational and financial guidance, including through the Value Creation Program. The Advisers and the Administrators will provide such managerial assistance on our behalf to portfolio companies that request this assistance. To the extent fees are paid for these services, we, rather than the Advisers, will retain any fees paid for such assistance. Exit In addition to payments of principal and interest, we expect the primary methods for the strategy to realize returns on its investments to include refinancings, sales of portfolio companies, and in some cases initial public offerings and secondary offerings. While many debt securities in which we will invest have stated maturities of five to eight years, based on Blackstone Credit & Insurance’s past experience, we believe most of these securities will be redeemed or sold prior to maturity. These securities often have call protection that requires an issuer to pay a premium if it redeems in the early years of an investment. However, there is no assurance that our investments will achieve realization events as a result of refinancings, sales of portfolio companies or public offerings and these realization events will become more unlikely when conditions in the credit and capital markets have deteriorated. The investment team regularly reviews investments and related market conditions in order to determine if an opportunity exists to realize returns on a particular investment. We believe the Advisers’ ability to utilize the entire resources of Blackstone Credit & Insurance, including the public market traders, research analysts and capital markets functions, allows the Advisers to gain access to current market information where the opportunity may exist to sell positions into the market at attractive prices. Co-Investment Relief We have in the past co -invested, and in the future will co -invest, with certain affiliates of Blackstone and the Advisers. The Company has received an exemptive order from the SEC that permits the Company, among other things, to co -investwith certain other persons, including certain affiliates of Blackstone and the Advisers and certain funds managed and controlled by Blackstone, the Advisers and their respective affiliates, subject to certain terms and conditions. Pursuant to such order, the Board has approved co -investmentpolicies and procedures describing how the Company will comply with the co -investmentexemptive relief. Further, the Advisers have adopted co -investmentpolicies and procedures describing the allocation of co -investment