Blackstone Secured Lending Fund (BXSL) 2025 Net Investment Income Reaches $0.80 Per Share

Core Viewpoint - Blackstone Secured Lending Fund (BXSL) is highlighted as a promising investment opportunity due to its resilient earnings and active capital deployment, with a reported net investment income of $0.80 per share for Q4 2025, reflecting an 11.8% annualized return on equity and 104% coverage for its dividend of $0.77 per share [1][6]. Financial Performance - For the full year 2025, BXSL achieved a net return of 9.6%, outperforming the leveraged loan market by 360 basis points [2]. - The fund's low-cost structure and focus on high-quality, first-lien loans have contributed to its durable performance amid market volatility [2]. - Companies in the top 90% of the portfolio experienced a 9% growth in EBITDA over the past twelve months, maintaining interest coverage above two times [2]. Portfolio and Investments - The Net Asset Value per share slightly decreased to $26.92 due to unrealized losses, while non-accruals remained low at 0.5% of fair market value [3]. - The quarter was notably active, with $1 billion in new funding across 13 new credits and 15 add-ons, focusing on sectors like life sciences and AI infrastructure, particularly in AI-protected software verticals such as ERP and data management [3]. - For 2026, BXSL maintains a positive outlook supported by a strong balance sheet and total liquidity of $2.5 billion [3]. Company Overview - Blackstone Secured Lending Fund is a business development company and a Delaware statutory trust established on March 26, 2018, structured as an externally managed, non-diversified closed-end investment fund [4].