Adam Gault In this article, we discuss the latest quarterly results from the Business Development Company (“BDC”) Blackstone Secured Lending Fund (NYSE:BXSL). The company delivered a 4.2% total NAV return, one of the best Q2 results in our coverage. BXSL is a large BDC with a focus on upper middle-market borrowers. It has overweight exposure to software and healthcare companies, something we see across most other BDCs. BXSL is trading at an 11% premium to book value (about 8% rich to the average in our  ...