Simpson Thacher represented Blackstone Secured Lending Fund (the “Fund”) in connection with its initial public offering of common shares. The offering raised $240 million, which would increase to approximately $276 million assuming full exercise of the over-allotment option. The Fund’s common shares began trading on the NYSE under the ticker symbol “BXSL” on October 28, 2021. Representatives of Simpson Thacher attended the closing bell ceremony at the NYSE. The underwriting syndicate for the offering was led by BofA Securities, Citigroup, Goldman Sachs & Co. LLC, Morgan Stanley and Wells Fargo Securities.
The Fund is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940. The Fund had approximately $8.2 billion in investments at fair value as of September 30, 2021. The Fund’s primary investment objectives are to generate current income and, to a lesser extent, long-term capital appreciation.
Blackstone Credit BDC Advisors LLC, an affiliate of Blackstone Inc., is the Fund’s investment adviser.
The Simpson Thacher team included Rajib Chanda, Benjamin Wells, Steven Grigoriou, Cody Lipke and Hadley Dryland (Registered Funds); Jonathan Goldstein and Jonathan Cantor (Tax); and Jennie Getsin (FINRA).