Blackstone Secured Lending Fund (GM8) AI Stock Analysis
Blackstone Secured Lending Fund
(Frankfurt:GM8)
No summary available
Blackstone Secured Lending Fund (GM8) vs. iShares MSCI Germany ETF (EWG)
- Market Cap
- EUR 5.51B
- Dividend Yield
- 12.81%
- Average Volume (3M)
- 45
- Price to Earnings (P/E)
- 18.3
- Beta (1Y)
- 0.33
- Revenue Growth
- -20.84%
- EPS Growth
- -58.26%
- Country
- Germany
- Employees
- ―
- Sector
- Financial
- Sector Strength
- 68
- Industry
- Asset Management
Blackstone Secured Lending Fund Business Overview & Revenue Model
Company Description
Blackstone Secured Lending Fund (BXSL) is a Delaware statutory trust, established on March 26, 2018, that operates as an externally managed, non-diversified closed-end investment fund. On October 26, 2018, it formally became regulated as a Business D...
Blackstone Secured Lending Fund Earnings Call Summary
The call emphasized strong operational and liquidity fundamentals — high NII yields, significant repayment activity (21% annualized), disciplined deployments with wider spreads, low historical loss rates, and diversified funding. Offsetting these positives were NAV and mark declines driven largely by market spread widening, a concentrated bottom 10% of the portfolio marked at ~70%, and a small shortfall of NII vs. the current dividend covered by undistributed earnings. Management highlighted proactive asset management, restructuring experience, and ample liquidity to navigate the issues. On balance the positives (liquidity, repayment-driven flexibility, yield, conservative credit profile) outweigh the contained but notable credit and mark headwinds.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management said it remains constructive on deal activity and will selectively deploy capital while transitioning to a lower long‑term dividend, using excess earnings near‑term as a bridge: Q2 NII was $0.75/sh (11.4% annualized NII yield) versus a maintained dividend of $0.77/sh (12.1% distribution yield) with $1.77 of undistributed earnings. They expect repayment‑driven liquidity (Q2 repayments >$700M, a 21% annualized repayment rate vs. 13% in Q1 and 5% a year ago) to create capacity to deploy (BXSL funded >$300M in Q2, +5 borrowers to 313) or repurchase shares under a $250M plan, while targeting leverage of 1.0–1.25x (ended Q2 at 1.25x net, 1.28x gross) and preserving $2.8B of total liquidity. Funding flexibility and cost remain strong ( $10.4B committed capacity; $7.6B funded debt; 68% unsecured/32% secured; all‑in cost of debt 5.05%; revolver SOFR+153; ABL drawn $679M at SOFR+186; CLOs $450M at SOFR+154; $5.2B bonds outstanding, incl. $650M 5‑yr at 205bps/5.9% coupon). Portfolio metrics supporting the guidance: $13.4B portfolio at fair value, NAV $25.53 (‑2.8% q/q), portfolio mark 95.2% (bottom 10% at 70%), ~97% first‑lien senior secured, LTM EBITDA +7% YoY, interest coverage ~2.1x, PIK ~6.6% of investment income, and nonaccruals 1.8% FV; management emphasized proactive workouts (38 amendments in Q2; >97% benign) and BXCI’s <10 bps long‑term loss rate.
Blackstone Secured Lending Fund Risk Analysis
Blackstone Secured Lending Fund disclosed 106 risk factors in its most recent earnings report. Blackstone Secured Lending Fund reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
0 New RisksBlackstone Secured Lending Fund Peers Comparison
Overall Rating
TSLX78Outperform
ARCC75Outperform
OBDC70Outperform
GBDC64Neutral
FSK54Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TSLX | 78Outperform | $1.73B | 21.31 | 5.64% | 10.06% | -17.25% | -53.04% |
| ARCC | 75Outperform | $14.03B | 15.58 | 6.23% | 10.10% | -8.14% | -38.79% |
| OBDC | 70Outperform | $5.21B | 18.75 | 3.95% | 13.14% | 1.32% | -62.13% |
| Sector * | 68Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
| GBDC | 64Neutral | $3.35B | 23.16 | 3.82% | 10.83% | -8.83% | -54.08% |
| FSK | 54Neutral | $3.16B | -8.24 | -6.65% | 18.33% | -35.39% | -272.02% |
* Financial Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| DE:GM8 | Blackstone Secured Lending Fund | 21.00 | 1.13 | 5.69% | |
| GBDC | Golub Capital Bdc | 12.74 | 0.09 | 0.74% | |
| ARCC | Ares Capital | 19.01 | 0.57 | 3.09% | |
| TSLX | Sixth Street Specialty Lending, Inc. | 17.90 | -1.93 | -9.72% | |
| FSK | Fs Kkr Capital | 11.13 | -1.34 | -10.77% | |
| OBDC | Blue Owl Capital Corporation | 10.50 | -0.80 | -7.08% |
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.