Blackstone Secured Lending Fund posts Q2 earnings and $754 million repayments

Blackstone Secured Lending Fund (BXSL) reported second‑quarter 2026 results showing net investment income of $174 million, or $0.75 per share, and a quarterly dividend of $0.77 per share, yielding an annualized distribution of 12.1%. Net asset value stood at about $5.9 billion ($25.53 per share). The fund’s portfolio remained at roughly $13.4 billion, with 96.8% of investments classified as first‑lien senior‑secured debt and 96.3% of the portfolio floating‑rate. Repayments and investment sales totaled $754 million during the quarter, far exceeding new investment commitments of $312 million and $154 million at par. Non‑accrual assets represented 1.8% of fair‑value holdings, with no new assets placed on non‑accrual. Chief Financial Officer Teddy Desloge said the fund will use excess earnings to transition to a lower dividend level aligned with its longer‑term earnings profile, while Chief Executive Officer Brad Marshall highlighted that the majority of the portfolio continued to perform well, with the bottom 10% marked at 70% of par.