Blackstone Secured Lending Fund (BXSL) Accumulated Expenses (2021 - 2026)
Blackstone Secured Lending Fund (BXSL) recorded Accumulated Expenses of $13.66 million in Q2 2026, up 10.8% from $12.33 million a year earlier and up 73.1% from the prior quarter.
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Analysis
Blackstone Secured Lending Fund (BXSL) Accumulated Expenses (2021 - 2026) Analysis & Trends
At the end of FY2025, Blackstone Secured Lending Fund reported Accumulated Expenses of $20.77 million, up 20.7% from FY2024.
- Annual Accumulated Expenses has a four-year compound annual growth rate of 61.0% (FY2021 to FY2025).
- Across earlier years, Accumulated Expenses came in at $17.21 million in FY2024 (+34.3%), $12.82 million in FY2023, $851,000 in FY2022 (-72.5%) and $3.1 million in FY2021.
- Quarterly Accumulated Expenses has ranged from $851,000 in Q4 2022 to $20.77 million in Q4 2025 over the past five years.
- On a year-over-year basis, Accumulated Expenses rose in seven of the last eight quarters, with growth averaging 35.6%.
- Peak year-over-year performance for Accumulated Expenses in the last five years was growth of 873.1% in Q3 2023, against a decline of 72.5% in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at $7.9 million (Q1 2026), $20.77 million (Q4 2025) and $16.63 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - |
| 10 | Blackstone Secured Lending Fund | 5.59 Bn | 4.44 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 13.66 Mn |
| Mar 31, 2026 | 7.90 Mn |
| Dec 31, 2025 | 20.77 Mn |
| Sep 30, 2025 | 16.63 Mn |
| Jun 30, 2025 | 12.33 Mn |
| Mar 31, 2025 | 8.00 Mn |
| Dec 31, 2024 | 17.21 Mn |
| Sep 30, 2024 | 11.98 Mn |
| Jun 30, 2024 | 7.93 Mn |
| Mar 31, 2024 | 4.33 Mn |
| Dec 31, 2023 | 12.82 Mn |
| Sep 30, 2023 | 8.48 Mn |
| Jun 30, 2023 | 3.55 Mn |
| Mar 31, 2023 | 3.88 Mn |
| Dec 31, 2022 | 851,000.00 |
| Sep 30, 2022 | 871,000.00 |
| Dec 31, 2021 | 3.10 Mn |
API Access
Blackstone Secured Lending Fund Accumulated Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=BXSL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "accumulated-expenses", "ticker": "BXSL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=BXSL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();