# Blackstone Secured Lending Fund

Blackstone Secured Lending Fund is an Asset Manager based in New York, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2018
- **Assets under management:** Undisclosed
- **Website:** bgsl.com

## Regulatory record

- **Reports private funds:** No

## About

Blackstone Secured Lending Fund is a business development company that invests in first lien senior secured debt of private U.S. companies in the financial sector. The company is managed by Blackstone Credit & Insurance, a significant player in the alternative credit market. It offers financial products and a value creation program to its portfolio companies.

## Sectors

- Private Credit
- Enterprise Software
- Healthcare Services
- Insurance

## People

- Brad Marshall — Chief Executive Officer
- Jonathan Bock — Chief Financial Officer

## Questions

### What is BXSL's relationship to Blackstone?

BXSL is an externally managed business development company (BDC) advised by Blackstone Credit's private credit strategies group. It is a separate publicly traded entity, not a subsidiary, but its investment decisions and portfolio management are executed by Blackstone investment professionals under the direction of CEO Brad Marshall. The structure gives the manager recurring fee income and gives BXSL access to Blackstone's global origination and underwriting resources.

### Is BXSL affected by the return of private credit CLOs or SMAs?

BXSL is part of Blackstone's broader shift into permanent capital vehicles and separately managed accounts within private credit. While it does not itself issue CLOs, the fund's assets can benefit from the same origination pipeline that fuels Blackstone's multi-billion dollar CLO platform. The BDC structure means its liabilities are mostly fixed-dividend equity and revolving credit facilities, not term securitization.

### What is the dividend policy?

BXSL pays a base quarterly dividend supplemented by variable distributions tied to excess income. In November 2024, the base dividend rose to $0.77 per share annually from $0.70 previously, with additional variable supplements approved quarterly. The policy reflects BDC tax rules that require distributing at least 90% of taxable income to shareholders.

### Who actually makes the investment decisions?

All investment decisions are made by Blackstone's private credit investment committee under the leadership of Brad Marshall, who serves as BXSL's CEO and as Global Head of Private Credit Strategies at Blackstone. Day-to-day portfolio management is carried out by Blackstone's sector-focused credit teams, with ultimate authority resting with the committee.

## Related profiles

- [Copa Holdings](https://altss.com/profile/copa-holdings-sa)
- [Kite Realty Group Trust](https://altss.com/profile/kite-realty-group-trust)

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Last updated: 2026-06-03T20:00:00.000Z

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