Blackstone Secured Lending Fund (BXSL)
Provides senior secured loans to private companies through an externally managed BDC.
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Provides privately originated senior secured loans, chiefly first-lien and unitranche debt, to private companies. Interest income from this portfolio is supported by shareholder equity and borrowing facilities, within an externally managed business development company structure.
Invests in privately originated senior secured loans to private companies, emphasizing first-lien and unitranche debt. Interest on these loans supplies most investment income, while other debt instruments and equity securities play smaller roles. The portfolio is mostly U.S.-based, with a European allocation, and spans software, health care, professional services, insurance, and commercial services.
Operates as an externally managed business development company, with Blackstone affiliates handling origination, underwriting, structuring, monitoring, and administration. Funding combines shareholder equity with secured and unsecured borrowings; RIC treatment generally supports distributions of available earnings. Results depend on borrower credit performance, floating-rate benchmarks and borrowing costs, private-asset valuations, financing access, BDC and RIC requirements, and Blackstone's advisers.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 1, 2026 | UBS | Reiterate | Rating: —Target: $24.50 | Target: $25.50 |
| Jul 23, 2026 | Oppenheimer | Initiate | Rating: —Target: — | Target: $25 |
| May 18, 2026 | UBS | Target | Target: — | Target: $24.50 |
| May 18, 2026 | RBC Capital | Target | Target: — | Target: $26 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $267.2M · Total debt $7.54B · Total assets $13.79B · Shareholders' equity $5.94B
- Revenue
- $282.4M
- Operating income
- $101.7M
- Net income
- $9.5M
HistoryDividendAnnual yieldUpcoming
| Institutions | 37.67% | 87.76M shares | |
|---|---|---|---|
| 371 holders · as of Jun 30, 2026 | |||
| Strategic holders | 5.41% | 12.60M shares | |
| 1 holder · as of Feb 14, 2025 | |||
| Other | 56.92% | 132.62M shares | |
| remainder | |||
232.97M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Greenwich Venture Capital LLCStrategic | 5.41% | 12.60M | filed Feb 14, 2025 |
Morgan StanleyInstitution | 2.73% | 6.36M | as of Jun 30, 2026 |
Bank of America Corp /DE/Institution | 2.42% | 5.63M | as of Jun 30, 2026 |
UBS Group AGInstitution | 2.20% | 5.13M | as of Jun 30, 2026 |
Van Eck Associates CorpInstitution | 1.79% | 4.16M | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Ares Capital
Scaled direct lender contesting sponsor-backed middle-market loans.
- Blue Owl Capital
Close-scale sponsor lender in senior and unitranche private credit.
- FS KKR Capital
Upper-middle-market lender spanning senior debt and asset-based finance.
- Sixth Street Specialty Lending
Direct originator of senior secured U.S. middle-market credit.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Blackstone Secured Lending Fund | $24.61 | −0.47% | $5.75B | 19.5 | 9.4 | 5.4 | +25.9% |
| Ares Capital | $19.20 | −0.85% | $13.90B | 14.3 | 10.0 | 6.0 | +32.6% |
| Blue Owl Capital | $10.96 | −1.66% | $5.53B | 19.9 | 8.5 | 3.9 | −20.8% |
| FS KKR Capital | $11.17 | −1.24% | $3.17B | — | 7.1 | 3.3 | +11.5% |
| Sixth Street Specialty Lending | $18.05 | −1.66% | $1.74B | 19.3 | 10.1 | 5.1 | −13.0% |
| Median | 19.3 | 9.2 | 4.5 | −0.8% |