Blackstone Secured Lending Fund (BXSL) — Dividend Yield, NAV & Valuation Analysis
BXSL · NYSE
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Overview
Blackstone Secured Lending Fund is a BDC managed by Blackstone, the world's largest alternative asset manager. BXSL focuses exclusively on senior secured loans to large middle-market companies. Its portfolio is heavily weighted toward first lien senior secured debt, making it one of the most defensive BDC portfolios. Blackstone's massive origination platform provides BXSL with proprietary deal flow.
Key Metrics
| Metric | Value |
|---|---|
| 1-Year Total Return | 13.2% |
| 3-Year Total Return | 31.2% |
| 5-Year Total Return | 0% |
| Expense Ratio | 7.5% |
| Leverage Ratio | 1.1x |
| Portfolio Companies | 160 |
| Total Assets | $10.5B |
Discount / Premium to NAV
| Stock Price | $24.72 |
| NAV per Share | $30.45 |
| Premium / (Discount) to NAV | -18.8% |
| Implied per-share NAV gap | $5.73 |
The premium / discount to NAV compares the current stock price to the per-share net asset value of Blackstone Secured Lending Fund's investment portfolio. A negative reading (a discount) means the market is pricing BXSL below the value of its underlying assets and is one of the most-watched valuation metrics for any BDC. A positive reading (a premium) means the market is paying a premium over the stated NAV, often reflecting confidence in future dividend coverage and portfolio credit quality. Blackstone Secured Lending Fund currently trades at a -18.8% discount to NAV.
Investment Strategy
Blackstone Secured Lending Fund focuses on senior secured loans, first lien senior secured loans in the technology, healthcare, business services, industrials sectors. The company targets middle-market companies and maintains a portfolio of 160 investments totaling $10.5B in assets.
Management
CEO: Brad Marshall | Employees: 55
Suitability
BXSL is suitable for income-focused investors seeking quarterly dividend income with a 12.5% yield. The BDC's focus on senior secured loans provides defensive portfolio characteristics. Investors should consider their risk tolerance and investment objectives before investing.