Blackstone Secured Lending Fund ( (BXSL) ) has released its Q4 earnings. Here is a breakdown of the information Blackstone Secured Lending Fund presented to its investors.
Blackstone Secured Lending Fund (NYSE: BXSL) is a specialty finance company that primarily invests in the debt of private U.S. companies. It operates as a business development company under the Investment Company Act of 1940 and is managed by Blackstone Private Credit Strategies LLC, an affiliate of Blackstone Inc., the world’s largest alternative investment firm.
In its latest earnings report, Blackstone Secured Lending Fund announced strong financial results for the fourth quarter and full year 2024. The company achieved record total investment income and increased net asset value, with a healthy credit performance and minimal non-accruals. New investments reached their highest level since 2021, marking a consistent increase over the past four quarters.
Key financial highlights include a net investment income of $183 million for the quarter, or $0.84 per share, and a net income of $162 million, or $0.75 per share. The company declared a regular dividend of $0.77 per share, yielding 11.2%. The net asset value per share increased to $27.39, up from $27.27 in the previous quarter. The fund’s portfolio remains predominantly composed of first lien, senior secured debt, with a loan-to-value ratio of 46.0%.
The company also reported $1.2 billion in new investment commitments and $1.4 billion in funded investments during the quarter, with proceeds from sales and repayments amounting to $213 million. The weighted average yield on performing debt investments stood at 10.4% at the end of the quarter.
Looking ahead, Blackstone Secured Lending Fund’s management remains confident in its ability to deploy capital actively in 2025, supported by a robust portfolio and strategic positioning in the market. The company’s efficient asset-liability structure and substantial liquidity provide a strong foundation for future growth and investment opportunities.