Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 676

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 676
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 net assets(0.82)1.45 (0.43)Net asset value, end of period$25.20 $26.02 $24.57 Market value, end of periodN/AN/AN/AShares outstanding, end of period129,661,58664,289,7429,621,319Total return based on NAV (3)6.5 %14.4 %(1.7)%Total return based on market value (4)N/AN/AN/ARatios:Ratio of net expenses to average net assets (5)6.5 %8.5 %8.9 %Ratio of net investment income to average net assets (5)10.4 %8.5 %6.1 %Portfolio turnover rate46.8 %31.5 %— %Supplemental Data:Net assets, end of period$3,267,809$1,673,117$236,365Asset coverage ratio230.0%215.1 %227.8 %(1)The per share data was derived by using the weighted average shares outstanding during the period.(2)The per share data for distributions was derived by using the actual shares outstanding at the date of the relevant transactions (refer to Note 9).(3)Total return is calculated as the change in NAV per share during the period, plus distributions per share (assuming dividends and distributions are reinvested in accordance with the Company's dividend reinvestment plan) divided by the beginning NAV per share. Total return does not include sales load.(4)Total return based on market value is calculated as the change in market value per share during the respective periods, taking into account distributions, if any, reinvested in accordance with the Company’s dividend reinvestment plan. The beginning market value per share is based on the initial public offering price of $26.15 per share and not annualized.(5)Amounts are annualized except for expense support amounts relating to organizational costs, excise tax, and management fee and income based incentive fee waivers by the Adviser (refer to Note 3). For the years ended December 31, 2024, 2023, 2022, 2021, 2020, 2019 and the period ended December 31, 2018, the ratio of total operating expenses to average net assets was 11.2%, 11.7%, 9.