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
10.3%
annual total net return since inception1
97.9%
of investments are first lien senior secured
$9.6B
of investments at fair value
BXSL: Recognized by Private Debt Investor2
Private Credit Is Rapidly Growing
There is continued opportunity to take market share
~$4 Trillion
Total Addressable U.S. Credit Market
$0.8 Trillion
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 Value Creation program has created more than $2 billion of enterprise value for Blackstone Credit portfolio companies3
Enhance Revenue
Curated cross-sell opportunities for portfolio companies to enhance revenue
Optimize Costs
Access to proprietary group purchasing program to optimize cost savings
Leverage Expertise
Operational support and access to deep expertise and resources in areas such as cybersecurity, ESG and healthcare4
1 Total return 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 Awarded by Private Debt Investor on March 1, 2022, covering the 2021 calendar year; and on March 1, 2023, covering the 2022 calendar year. Blackstone has provided compensation to Private Debt Investor for the ability to communicate the results of this award. The awards described above may not be representative of any one client’s experience with Blackstone Credit and should not be viewed as indicative of future performance. The awards were provided by Private Debt Investor, a publication addressing private credit markets, and cover the 2021 and 2022 calendar years. Private Debt Investor determines its industry awards annually by way of nominations and an online reader poll that prompts readers to vote for a particular firm in one or more of multiple enumerated categories, including those shown above and therefore is based on subjective criteria. In addition, their selection to receive the awards and/or their rankings may have been based on a limited universe of participants, and therefore there can be no assurance that a different sampling of participants might not have achieved different results.
3 Value creation represents 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.
4 Subject to Blackstone’s internal walls and procedures.