Blackstone Secured Lending Fund 2024年度报告

☒ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF1934 For the fiscal year endedDecember 31, 2024OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF1934 Blackstone Secured Lending Fund (Exact name of Registrant as specified in its Charter)_______________________________________________________________________ 82-7020632(I.R.S. EmployerIdentification No.) Securities registered pursuant to Section 12(g) of the Act: NoneIndicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act. Yes☒No☐Indicate by check mark if the Registrant is not required to file reports pursuant to Section13 or Section 15(d) of the Act.Yes☐No☒ Indicate by check mark whether the Registrant: (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the Registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐Indicate by check mark whether the Registrant has submitted electronicallyevery Interactive Data File required to be submittedpursuant to Rule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the Registrant was required to submitsuch files).Yes☒No☐Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company”in Rule12b-2 of the Exchange Act: Accelerated filerSmaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued itsaudit report.☒If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐Indicate by check mark whether the Registrant is a shell company (as defined in Rule12b-2 of the Act).YES☐NO☒ As of June 30, 2024, the aggregate market value of the common shares of beneficial interest, par value $0.001 per share (“Common Shares”) held by non-affiliates of the Registrant was $5,969million.The number of Common Shares outstanding as of February19, 2025 was227,818,928. Table of Contents PART I Item1.BusinessItem1A.Risk FactorsItem1B.Unresolved Staff CommentsItem1C.CybersecurityItem2.PropertiesItem3.Legal ProceedingsItem4.Mine Safety Disclosures PARTII Item5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities113Item6.(Reserved)115Item7.Management’s Discussion and Analysis of Financial Condition and Results of Operations116Item7A.Quantitative and Qualitative Disclosures About Market Risk128Item8.Financial Statements and Supplementary Data130Item9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure236Item9A.Controls and Procedures236Item9B.Other Information237Item9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.237 PARTIII Item10.Directors, Executive Officers and Corporate Governance238Item11.Executive Compensation245Item12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters246Item13.Certain Relationships and Related Transactions, and Director Independence248Item14.Principal Accounting Fees and Services249 PARTIV Item15.ExhibitsandFinancial Statement Schedules252Item16.Form 10-K Summary257 SIGNATURES258 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTSThis report contains forward-looking statements that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are nothistorical facts, but rather are based on current expectations, estimates and projections about Blackstone Secured Lending Fund (together, withits consolid