Company: BXSL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001736035-25-000018
Chunk: 168

Company: Blackstone Secured Lending Fund
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 168
---
 control over the management or policies of the portfolio company. Under the 1940 Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of December 31, 2024, the Company’s non-controlled/affiliated investments were as follows:

Fair Value as of December 31, 2023Gross AdditionsGross ReductionsNet Change in Unrealized Gains (Losses)Net Realized Gain (Loss)Fair Value as of December 31, 2024Dividend and Interest IncomeNon-controlled/Affiliated InvestmentsBlackstone Donegal Holdings LP$5,790 $— $— $613 $— $6,403 $— Material Holdings, LLC— 21,384 — 163 — 21,547 1,378 Material Holdings, LLC— 5,114 — (3,717)— 1,397 314 Material+ Holding Company, LLC— — — — — — — Total$5,790 $26,498 $— $(2,941)$— $29,347 $1,692 

(17)Loan was on non-accrual status as of December 31, 2024.

(18)These loans are “last-out” portions of loans. The “last-out” portion of the Company’s loan investment generally earns a higher interest rate than the “first-out” portion, and in exchange the “first-out” portion would generally receive priority with respect to payment principal, interest and any other amounts due thereunder over the “last-out” portion.

(19)All securities are exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), and may be deemed to be “restricted securities.” As of December 31, 2024, the aggregate fair value of these securities is $13,092.5 million or 215.43% of the Company’s net assets. The initial acquisition dates have been included for such securities.

(20)The interest rate floor on these investments as of December 31, 2024 was 3.00%.

ADDITIONAL INFORMATION

Foreign Currency Forward ContractsCounterpartyCurrency PurchasedCurrency SoldSettlement DateUnrealized Appreciation (Depreciation)Wells Fargo Bank, N.A.USD56