BXSL Q1 2026: Thriving Amid Market Turmoil

Blackstone Secured Lending Fund (BXSL) reported first quarter 2026 earnings amid market volatility, posting net investment income of $0.77 per share and a total net return of 70 basis points. Despite $450 million in repayments, they deployed $325 million in new capital. Net asset value per share dipped to $26.26, down 2.5% from last quarter, due to wider spreads and portfolio adjustments. Non-accruals rose to 3.1% at fair value, with three new additions. The portfolio remains strong, with 98% first lien, average marks at 96.2%, and interest coverage at 2x, up 17% in two years. BXSLs senior lender status and Blackstones backing have resulted in minimal restructurings and losses. They have visibility on over $600 million in repayments and are considering new deals, debt paydown, or share buybacks. Notable moves include leading a $10 billion GPU debt deal for Firmus Technologies in AI infrastructure. BXSL continues to outperform liquid markets, with inception returns near 11% and 550 basis points excess to syndicated loans. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/41eb539daa905709