In plain terms — Blackstone Secured Lending Fund
Shares currently cost about 5.2% less than the value of the assets behind them (a discount).
It pays regular distributions worth about 10.0% a year of the share price (9.5% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | — | — | — | 0 |
| 6 months | — | — | — | 0 |
| 1 year | — | — | — | 0 |
| 3 years | — | — | — | — |
| 5 years | — | — | — | — |
Current contemporaneous premium/discount — (close Nov 9, 2026 vs NAV Sep 30, 2026). 1-year range — to —. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | +0.34% | -2.45% | -9.08% | -9.63% | -4.72% | -4.79% |
| Market price total return | +0.34% | +0.69% | +0.04% | +2.34% | +6.29% | +6.12% |
| NAV return | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
Through Nov 9, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
Blackstone Secured Lending Fund (BXSL) is a Delaware statutory trust, established on March 26, 2018, that operates as an externally managed, non-diversified closed-end investment fund. On October 26, 2018, it formally became regulated as a Business Development Company (BDC) under the Investment Company Act of 1940. Additionally, for U.S. federal income tax purposes, it has chosen and plans to retain its status as a Regulated Investment Company (RIC), as defined by Subchapter M of the Internal Revenue Code of 1986. The fund's core mission is to generate current income, complemented by a secondary focus on long-term capital appreciation. To achieve these goals, BXSL primarily invests in private U.S. small and middle-market companies. Its strategy centers on originating various debt and equity securities, most notably first lien senior secured and unitranche loans (which encompass first out/last out structures). While these form the bulk of its holdings, the fund also selectively invests in syndicated loans, second lien, third lien, unsecured, and subordinated loans, as well as other debt and equity instruments.
Closed End Fund Explorer research page for Blackstone Secured Lending Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.