Blackstone Secured Lending
Blackstone Secured Lending (NYSE: BXSL) is a business development company (BDC) that primarily invests in the first lien senior secured debt of private U.S. companies.
Differentiated BDC with strong risk-adjusted performance
Managed by Blackstone Credit, one of the largest alternative credit platforms globally
Value-add lender seeking to make companies better through partnership
annual total net return since inception1
of investments are first lien senior secured
of investments at fair value
Private Credit Is Rapidly Growing
There is continued opportunity to take market share
Total Addressable U.S. Credit Market
Total U.S. Private Credit Market
*Source: Preqin, Credit Suisse as of December 31, 2020. Total addressable credit market defined as the aggregate of the high yield bond, senior loan and private credit markets. Senior loans refers to broadly syndicated loans.
More Than Just a Capital Provider
The Blackstone Credit Advantage program has created more than $1 billion of enterprise value for Blackstone Credit portfolio companies2
Curated cross-sell opportunities for portfolio companies to enhance revenue
Access to proprietary group purchasing program to optimize cost savings
Operational support and access to deep expertise and resources in areas such as cybersecurity, ESG and healthcare3
1 Total return of 10% annualized inception to date based on NAV. Total return is calculated as the change in NAV per share during the period, plus dividends per share (assuming dividends and distributions are reinvested in accordance with the Company’s dividend reinvestment plan), divided by the beginning NAV per share. Total return does not include sales load. Past performance is not necessarily indicative of future results.
2 Value creation represents $176 million of annual savings, representing estimated savings utilizing the Blackstone Credit Advantage program at the time cost is benchmarked with portfolio companies. Savings improved portfolio company EBITDA and created value assuming a 10x average EBITDA multiple.
3 Subject to Blackstone’s internal walls and procedures.