BXSL 📈 Blackstone Secured Lending - Overview

The Blackstone Secured Lending Fund, listed on the New York Stock Exchange under the ticker symbol BXSL, is a business development company that was established as a Delaware statutory trust on March 26, 2018. As an externally managed, non-diversified closed-end investment fund, it operates under a distinct structure, with its management team responsible for making key investment decisions. Following its inception, the fund made a strategic decision to be regulated as a business development company under the Investment Company Act of 1940, a move that was formalized on October 26, 2018.

In addition to its BDC classification, the Blackstone Secured Lending Fund has also elected to be treated as a regulated investment company, or RIC, for U.S. federal income tax purposes. This tax treatment is defined under Subchapter M of the Internal Revenue Code of 1986 and allows the fund to maintain a specific tax status, provided it complies with the relevant requirements outlined in the Code. The fund's primary investment objectives are centered around generating current income, with a secondary focus on achieving long-term capital appreciation. To accomplish these goals, the fund invests primarily in originated loans, equity, and other securities of private U.S. companies, with a particular emphasis on small and middle market businesses.

The fund's investment strategy involves originating loans and investing in various types of debt and equity securities, including first lien senior secured loans, unitranche loans, and to a lesser extent, second lien, third lien, unsecured, and subordinated loans. By focusing on these types of investments, the Blackstone Secured Lending Fund aims to provide its investors with a unique opportunity to gain exposure to the U.S. private credit market. With its website available at https://www.bxsl.com, the fund provides investors with access to information about its investment approach, portfolio, and performance. The fund's ISIN is US09261X1028, and it is classified as a closed-end fund, or CEF, operating within the asset management and custody banks sub-industry.