SEC Form SC 13G filed by Blackstone Secured Lending Fund
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
Information to be Included in Statements Filed Pursuant to § 240.13d-1(b), (c) and (d) and
Amendments Thereto Filed Pursuant to § 240.13d-2
Under the Securities Exchange Act of 1934
(Amendment No. )*
Blackstone Secured Lending Fund
(Name of Issuer)
Common Shares of Beneficial Interest, $0.001 par value per share
(Title of Class of Securities)
09261X102
(CUSIP Number)
June 22, 2023
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this schedule is filed:
☐ Rule 13d-1(b)
☒ Rule 13d-1(c)
☐ Rule 13d-1(d)
* | The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. |
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
1 |
NAME OF REPORTING PERSON
Greenwich Venture Capital LLC | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐ (b) ☐ | |||||
3 | SEC USE ONLY
| |||||
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
0 | ||||
6 | SHARED VOTING POWER
11,698,225 | |||||
7 | SOLE DISPOSITIVE POWER
0 | |||||
8 | SHARED DISPOSITIVE POWER
11,698,225 |
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,698,225 | |||||
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
☐ | |||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.3%1 | |||||
12 | TYPE OF REPORTING PERSON
OO |
1 | Based on a total of 160,784,501 Common Shares of Beneficial Interest, $0.001 par value per share (the “Common Shares”) outstanding as of May 8, 2023, as reported in Blackstone Secured Lending Fund’s Quarterly Report on Form 10-Q filed with the SEC on May 10, 2023 (the “Form 10-Q”). |
1 |
NAME OF REPORTING PERSON
Locust Street Associates GP, LLC | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐ (b) ☐ | |||||
3 | SEC USE ONLY
| |||||
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Pennsylvania |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
0 | ||||
6 | SHARED VOTING POWER
11,698,225 | |||||
7 | SOLE DISPOSITIVE POWER
0 | |||||
8 | SHARED DISPOSITIVE POWER
11,698,225 |
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,698,225 | |||||
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
☐ | |||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.3%1 | |||||
12 | TYPE OF REPORTING PERSON
OO |
1 | Based on a total of 160,784,501 Common Shares outstanding as of May 8, 2023, as reported in the Form 10-Q. |
1 |
NAME OF REPORTING PERSON
Michael Karp | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐ (b) ☐ | |||||
3 | SEC USE ONLY
| |||||
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
United States |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
0 | ||||
6 | SHARED VOTING POWER
11,698,225 | |||||
7 | SOLE DISPOSITIVE POWER
0 | |||||
8 | SHARED DISPOSITIVE POWER
11,698,225 |
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,698,225 | |||||
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
☐ | |||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.3%1 | |||||
12 | TYPE OF REPORTING PERSON
IN |
1 Based on a total of 160,784,501 Common Shares outstanding as of May 8, 2023, as reported in the Form 10-Q.
ITEM 1. |
(a) Name of Issuer:
Blackstone Secured Lending Fund (the “Issuer”)
(b) Address of Issuer’s Principal Executive Offices:
345 Park Avenue
31st Floor
New York, New York 10154
ITEM 2. |
(a) Name of Persons Filing:
This Schedule 13G is being filed jointly by Greenwich Venture Capital LLC (“Greenwich Venture”), Locust Street Associates GP, LLC (“Locust Street”) and Michael Karp (collectively with Locust Street and Greenwich Venture, the “Reporting Persons”), pursuant to a Joint Filing Agreement attached hereto as Exhibit 1 in accordance with Rule 13d-1(k)(1) under the Act.
The Common Shares (as defined below) reported herein are held directly by Greenwich Venture. Locust Street is the sole member of Greenwich Venture. Mr. Karp is the sole member of Locust Street. Locust Street and Mr. Karp may be deemed to beneficially own the Common Shares held directly by Greenwich Venture.
(b) Address of Principal Business Office or, if none, Residence:
The business address of each of the Reporting Persons is: 1062 Lancaster Avenue, Suite 30B, Bryn Mawr, PA 19010
(c) Citizenship:
Greenwich Venture is organized in Delaware
Locust Street is organized in Pennsylvania
Mr. Karp is a citizen of the United States
(d) Title of Class of Securities:
Common Shares of Beneficial Interest, $0.001 par value per share (the “Common Shares”)
(e) CUSIP Number:
09261X102
ITEM 3. |
If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
NOT APPLICABLE
ITEM 4. | OWNERSHIP |
(a) AMOUNT BENEFICIALLY OWNED:
See responses to Item 9 on each cover page.
(b) PERCENT OF CLASS:
See responses to Item 11 on each cover page.
(c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) SOLE POWER TO VOTE OR TO DIRECT THE VOTE
See responses to Item 5 on each cover page.
(ii) SHARED POWER TO VOTE OR TO DIRECT THE VOTE
See responses to Item 6 on each cover page.
(iii) SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF
See responses to Item 7 on each cover page.
(iv) SHARED POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF
See responses to Item 8 on each cover page.
ITEM 5. | OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS |
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ☐.
ITEM 6. | OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON |
NOT APPLICABLE
ITEM 7. | IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY. |
NOT APPLICABLE
ITEM 8. | IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. |
NOT APPLICABLE
ITEM 9. | NOTICE OF DISSOLUTION OF GROUP. |
NOT APPLICABLE
ITEM 10. | CERTIFICATION |
By signing below each of the undersigned certifies that, to the best of its or his knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the Issuer and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: July 3, 2023
Greenwich Venture Capital LLC | ||
By: | /s/ Michael Karp | |
Name: | Michael Karp | |
Title: | President |
Locust Street Associates GP, LLC | ||
By: | /s/ Michael Karp | |
Name: | Michael Karp | |
Title: | Sole Member |
Michael Karp | ||
By: | /s/ Michael Karp | |
Michael Karp |