Blackstone Secured Lending Fund
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 28, 2024
BXSL$24.17+1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations for the years ended and
Consolidated Statements of Operations
(in thousands, except share and per share amounts)
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Investment income: | |||
| From non-controlled/non-affiliated investments: | |||
| Interest income | $1,089,044 | $796,499 | $610,508 |
| Payment-in-kind interest income | 47,076 | 40,324 | 8,188 |
| Dividend income | 387 | 9,307 | 219 |
| Fee income | 7,010 | 4,162 | 5,785 |
| Total investment income | 1,143,517 | 850,292 | 624,700 |
| Expenses: | |||
| Interest expense | 266,420 | 203,579 | 120,469 |
| Management fees (Note 3) | 98,122 | 101,707 | 62,401 |
| Income based incentive fees (Note 3) | 134,230 | 97,154 | 67,272 |
| Capital gains incentive fees (Note 3) | (5,506) | (11,883) | 16,312 |
| Professional fees | 6,077 | 4,011 | 2,925 |
| Board of Trustees' fees | 907 | 853 | 571 |
| Administrative service expenses (Note 3) | 2,250 | 2,672 | 2,370 |
| Other general and administrative | 6,115 | 6,343 | 4,794 |
| Total expenses before excise tax | 508,615 | 404,436 | 277,114 |
| Management fees waived (Note 3) | (20,194) | (25,427) | (4,195) |
| Incentive fees waived (Note 3) | (15,604) | (13,879) | (2,333) |
| Net expenses before excise tax | 472,817 | 365,130 | 270,586 |
| Net investment income before excise tax | 670,700 | 485,162 | 354,114 |
| Excise tax expense | 16,795 | 1,386 | 2,438 |
| Net investment income after excise tax | 653,905 | 483,776 | 351,676 |
| Realized and unrealized gain (loss): | |||
| Net change in unrealized appreciation (depreciation): | |||
| Non-controlled/non-affiliated investments | (36,685) | (143,515) | 101,804 |
| Non-controlled/affiliated investments | (14,156) | 17,022 | 2,923 |
| Translation of assets and liabilities in foreign currencies | (3,732) | 4,344 | (549) |
| Net change in unrealized appreciation (depreciation) | (54,573) | (122,149) | 104,178 |
| Net realized gain (loss): | |||
| Non-controlled/non-affiliated investments | (14,488) | 37,402 | 7,785 |
| Non-controlled/affiliated investments | 8,283 | — | — |
| Foreign currency transactions | 18,824 | 5,527 | (3,217) |
| Net realized gain (loss) | 12,619 | 42,929 | 4,568 |
| Net realized and change in unrealized gain (loss) | (41,954) | (79,220) | 108,746 |
| Net increase (decrease) in net assets resulting from operations | $611,951 | $404,556 | $460,422 |
| Net investment income per share (basic and diluted) | $3.90 | $2.91 | $2.43 |
| Earnings (loss) per share (basic and diluted) | $3.65 | $2.44 | $3.19 |
| Weighted average shares outstanding (basic and diluted) | 167,615,433 | 166,072,919 | 144,510,122 |
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