Blackstone secured lending fund BMark long 3Y, +225A
TL;DR
Blackstone Secured Lending Fund (BXSL) reported strong Q4 2025 results, with net investment income covering its dividend and over $1 billion in new investments. The fund's portfolio shows resilience with low non-accrual rates, and it approved a $250 million share repurchase plan.
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Blackstone secured lending fund BMark long 3Y, +225A
Blackstone Secured Lending Fund Reports Strong Fourth-Quarter 2025 Performance
Blackstone Secured Lending Fund (NYSE: BXSL), a business development company (BDC) specializing in first-lien senior secured debt of private U.S. companies, reported robust fourth-quarter 2025 results on February 25, 2026. The fund generated net investment income of $0.80 per share, fully covering its dividend of $0.77 per share for the first quarter of 2026. New investment activity exceeded $1 billion for the second consecutive quarter, reflecting sustained demand for its credit strategies.
BXSL's portfolio remains resilient, with borrowers exhibiting weighted average 12-month EBITDA growth of 8% and stable interest coverage ratios of 2.0x. The fund also maintained a low non-accrual rate, underscoring the quality of its credit holdings. Management emphasized disciplined underwriting and leveraging Blackstone's scale and expertise to drive shareholder value.
To align with shareholder interests, BXSL's board approved a discretionary share repurchase plan, authorizing up to $250 million in open-market repurchases at prices below net asset value per share. As of December 31, 2025, the fund's fair value of investments totaled $14.2 billion, managed externally by Blackstone Private Credit Strategies LLC.
BXSL has received multiple industry accolades, including "Americas Junior Lender of the Year 2023" and "Global Fund Manager of the Year 2023," reflecting its leadership in specialty finance. However, investors should note that forward-looking statements in the report, such as growth expectations, are subject to risks outlined in BXSL's SEC filings.
The company will host a conference call today at 9:30 a.m. ET to discuss results in detail. For further information, investors may access the full earnings presentation at www.bxsl.com.
This article provides factual information based on publicly available data and does not constitute investment advice.
