Logotype for Blackstone Secured Lending Fund

Blackstone Secured Lending Fund (BXSL) investor relations material

Blackstone Secured Lending Fund Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Blackstone Secured Lending Fund
Q2 2025 earnings summary6 Aug, 2025

Executive summary

  • Net investment income for Q2 2025 was $176M ($0.77/share), fully covering the dividend and representing an 11.2% annualized return on equity.

  • Net asset value per share was $27.33, with total NAV at $6.3B and a 2.3% total return for the quarter.

  • Portfolio quality remained strong with non-accruals at 0.3% of investments at cost and 98.2% in first lien senior secured debt.

  • Dividend of $0.77/share was declared and 100% covered by net investment income.

  • Portfolio diversified across 295 companies and 40 industries, with no single issuer over 3% of the portfolio.

Financial highlights

  • Net investment income was $176M ($0.77/share), down from $0.83/share in Q1 2025 and $0.89/share in Q2 2024.

  • Weighted average yield on performing debt investments at fair value was 10.2%, consistent with the prior quarter.

  • Investments at fair value increased to $13.3B from $11.3B year-over-year.

  • Debt-to-equity ratio remained stable at 1.13x, within the target range.

  • Dividend yield for Q2 2025 was 11.3% based on NAV, with 100% coverage.

Outlook and guidance

  • Management expects deal activity to increase, with August projected as the busiest month since 2021.

  • Repayment activity is expected to normalize higher as M&A activity picks up.

  • Dividend policy will be reviewed based on long-term signals, not short-term fluctuations.

  • Portfolio remains well positioned with strong credit fundamentals and robust liquidity.

  • Management remains disciplined and focused on leveraging scale for portfolio and shareholder benefit.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Blackstone Secured Lending Fund earnings date

Logotype for Blackstone Secured Lending Fund
Q3 202511 Nov, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Blackstone Secured Lending Fund earnings date

Logotype for Blackstone Secured Lending Fund
Q3 202511 Nov, 2025

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Blackstone Secured Lending Fund is a business development company (BDC) that focuses on providing loans and other debt financing to U.S.-based middle-market companies. The fund primarily invests in senior secured loans, aiming to offer capital solutions to businesses that may not have access to traditional financing sources. Blackstone Secured Lending Fund is managed by Blackstone, a global investment firm, leveraging its extensive expertise in credit markets to support the growth and operational needs of its portfolio companies. The fund serves industries such as manufacturing, healthcare, and technology, among others. The company is headquartered in New York, New York, and its shares are listed on the NYSE.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage