Blackstone Secured Lending reported second-quarter 2026 results with net investment income of $174 million ( $0.75 per share) and net income of $9 million ( $0.04 per share). The company reported NAV of $25.53 per share and declared a third-quarter dividend of $0.77 per share payable on or about October 23, 2026. Investments at fair value were approximately $13.4 billion as of June 30, 2026.

Financial Highlights

  • Net investment income: $174 million for 2Q 2026; $0.75 per share.
  • Net income: $9 million for 2Q 2026; $0.04 per share.
  • Investments at fair value: approximately $13.4 billion as of June 30, 2026.
  • Net asset value (NAV): $25.53 per share at quarter-end; total NAV approximately $5.9 billion.
  • Dividend: Board declared a quarterly dividend of $0.77 per share (record date Sept. 30, 2026; payable on or about Oct. 23, 2026).

Business Highlights

  • Portfolio composition remained focused on first-lien senior secured debt, representing 96.8% of the portfolio by fair value, with 96.3% floating-rate exposure.
  • New investment activity exceeded $300 million during the quarter; repayments and sales totaled over $700 million, resulting in net funded investment activity of negative $442 million for the quarter.
  • Portfolio credit metrics: weighted average yield on performing debt at fair value of 9.4%; non-accrual debt investments at 1.8% of fair market value (3.6% on an amortized cost basis).
  • Liquidity and funding profile: $2.8 billion of unrestricted cash and undrawn borrowing capacity (subject to borrowing base availability); ending debt-to-equity ~1.28x (net of cash 1.25x) and weighted average debt maturity ~3.3 years.
  • Portfolio diversification: 313 portfolio companies across industries with largest exposures to software, health care providers & services, professional services and insurance; no single issuer >3% of portfolio.

Original SEC Filing:

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