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Mar 31, 2023
Blackstone Secured Lending Fund Q1 2023 Earnings Report
Reported robust results with strong credit performance, growth in net asset value, and rising investment income.
Key Takeaways
Blackstone Secured Lending Fund reported a strong first quarter in 2023, with net investment income exceeding the quarterly dividend, growth in net asset value, and solid credit performance. The dividend was increased 17% last quarter and has increased over 30% since the Fund’s IPO in late 2021.
Net investment income of $0.93 per share, up 3% from the prior quarter.
Net income of $139 million, or $0.86 per share, up 13% from the prior quarter.
Regular dividend of $0.70 per share, resulting in a dividend yield of 10.7%.
Fair value of investments was approximately $9.6 billion.
Forward Guidance
The company is well-positioned with investments in companies with solid fundamentals and only 1 issuer on non-accrual. BXSL is designed to protect capital in challenging times with a senior secured focus. The Board of Trustees has declared a second quarter 2023 dividend of $0.70 per share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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