BXSL Posts Record Investment Income, Boosts Portfolio Strength with $1B in New Deals

New Investment Activity Surges to Highest Since Late 2024

Blackstone Secured Lending Fund (NYSE:BXSL) just delivered a standout quarter. Reporting third quarter 2025 results, the fund set new records for both total and net investment income, a signal of strong portfolio management in today’s shifting credit landscape.

What sets this quarter apart is the scale of new investments—BXSL added over $1 billion in fresh deals, its most active quarter since the end of 2024. This move demonstrates the company’s confidence in identifying and deploying capital across U.S. private debt markets at a time when selectivity and scale matter most.

Net Investment Income Per Share Tops Dividend Payout

BXSL’s net investment income (NII) per share hit $0.82, comfortably above its declared $0.77 dividend for the fourth quarter. For investors, this consistent ability to generate NII above dividend payouts reflects not only strong earnings power but also a disciplined approach to risk and portfolio yield.

Strong Credit Quality Remains a Cornerstone

BXSL’s risk profile stands out, with an impressive 97.5% of its portfolio anchored in first lien senior secured debt. This heavy tilt toward the top of the capital structure means the fund is well-insulated against borrower distress, as evidenced by persistently low non-accruals (loans not currently paying interest or principal).

The fund’s $13.8 billion portfolio is diversified, focused on the debt of private U.S. companies—an area where Blackstone has significant market depth. Managed by Blackstone Private Credit Strategies, BXSL benefits from deep sourcing and disciplined credit standards backed by the scale of the world’s largest alternative investment manager.

Dividend Coverage Supports Shareholder Value

The company’s board declared a fourth quarter dividend of $0.77 per share, with NII providing healthy coverage. This reliability will be reassuring for investors looking for income in a still-uncertain macro backdrop. The next dividend will be paid around January 23, 2026, to holders of record as of December 31, 2025.

Key Takeaway: Resilient Performance Amid Market Volatility

BXSL’s third quarter 2025 results spotlight a rare combination of robust income, portfolio quality, and aggressive—but disciplined—investment deployment. For investors tracking specialty finance and private credit, BXSL’s recent record-setting quarter is a signal worth following as credit conditions continue to evolve.

Those interested in further details can access BXSL’s full results presentation at www.bxsl.com or register for the company’s live webcast. While no investment is without risk, BXSL’s results show it’s executing well on both risk and opportunity.

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