Daniel Leiter
About Daniel Leiter
Daniel Leiter (birth year 1983) serves as Trustee, Chairman of the Board, President, and Chief Executive Officer of Blackstone Strategic Credit 2027 Term Fund (BGB) effective November 15, 2024; he is based in London and concurrently serves as Head of International for Blackstone Credit & Insurance (BXCI) and Global Head of Liquid Credit Strategies . Prior to Blackstone, Leiter was a Managing Director in Fixed Income at Morgan Stanley, globally responsible for Securitized Products Trading and Alternative Financing and head of European Securitized Products across trading, sales, structuring, and lending . His BGB board term, if elected, runs to 2028 as a Class III Trustee ; “Interested Trustee” status applies due to his employment with the Adviser .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Morgan Stanley | Managing Director, Fixed Income; globally responsible for Securitized Products Trading and Alternative Financing; head of European Securitized Products (trading, sales, structuring, lending) | Until 2024 | Led global securitized products trading and alternative financing; headed European securitized products across functions |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Blackstone Credit & Insurance | Head of International; Global Head of Liquid Credit Strategies; based in London | 2024–present | Senior leadership over BXCI’s Liquid Credit Strategies; oversight of closed-end funds and LCS platform |
Fixed Compensation
| Source | FY 2024 Cash Retainer ($) | Notes |
|---|---|---|
| Funds (BGB/BSL/BGX) | $0 | Trustees and Officers employed by BXCI receive no compensation or expense reimbursement from the Funds |
Performance Compensation
- Not disclosed at the Fund level. Officers employed by BXCI are compensated by the Adviser; Fund proxies do not provide Daniel Leiter’s performance metrics, targets, payouts, or vesting details .
Equity Ownership & Alignment
| As of | BGB Common Shares Owned | BGB Preferred Shares Owned | % of BGB Common Outstanding | Dollar Range of Equity Securities Held in BGB |
|---|---|---|---|---|
| December 31, 2024 | 0 | 0 | 0.00% (44,664,382 BGB Common outstanding on Record Date) | None |
- Other directorships held by the Trustee during the past five years: None .
- Section 16(a) beneficial ownership reporting compliance: all applicable filing requirements were met in FY 2024 .
Employment Terms
| Item | Details |
|---|---|
| Employment start date (Fund officer) | Effective November 15, 2024 |
| Officer roles | Trustee, Chairman of the Board, President, Chief Executive Officer |
| Officer term | Indefinite (officer term of office) |
| Board class and term expiry | BGB Class III; term expires 2028 (if elected) |
| Other directorships | None |
Board Governance
| Committee | Members | Chair | Meetings FY 2024 |
|---|---|---|---|
| Audit Committee | Thomas W. Jasper; Gary S. Schpero; Jane M. Siebels (all Independent Trustees) | Thomas W. Jasper | 4 |
| Nominating & Governance | Thomas W. Jasper; Gary S. Schpero; Jane M. Siebels (all Independent Trustees) | Gary S. Schpero | 3 |
| Compensation Committee | None; Nominating & Governance reviews Independent Trustee compensation | n/a | n/a |
| Valuation Committee | None (valuation delegated to the Adviser) | n/a | n/a |
- Leadership structure: Daniel Leiter is Chairman of the Board (Interested Trustee). Lead Independent Trustee is Jane M. Siebels .
- Board meetings: Each Board met eight times in FY 2024; each Trustee attended at least 75% of Board and committee meetings .
- Independence: Audit and Nominating & Governance Committees comprise only Independent Trustees as defined by NYSE and the 1940 Act .
Director Compensation (Context)
- Independent Trustee annual retainer: $155,000; Committee chair retainer: $12,000; Lead Independent Trustee retainer: $16,000; fees paid quarterly and allocated pro rata across funds based on average NAV .
- Compensation paid from the Fund Complex in FY 2024 (select): Jasper $167,000; Schpero $167,000; Siebels $171,000; D’Alelio $155,000 .
- BXCI employees (including Daniel Leiter) receive no Fund-paid compensation .
Performance & Track Record
- Leadership transition: Effective November 15, 2024, Leiter was appointed Trustee, Chairman, President, and CEO; the Adviser stated no change to the Funds’ strategies, objectives, or policies resulting from these changes .
- Audit committee financial expert: Thomas W. Jasper designated as each Fund’s “audit committee financial expert” .
Investment Implications
- Governance concentration vs mitigants: Leiter’s dual role as CEO and Chairman centralizes authority; mitigated by a Lead Independent Trustee and fully independent Audit and Nominating & Governance Committees with defined meeting cadence .
- Pay alignment visibility: Fund-level compensation is $0 for BXCI-employed officers and trustees, and Leiter holds zero BGB shares; alignment signals are driven by BXCI-level incentives, which are not disclosed at the Fund level, reducing transparency for pay-for-performance analysis at BGB .
- Retention/contract economics: Officer term is indefinite; severance, change-of-control, vesting acceleration, and restrictive covenants are not disclosed in Fund filings, limiting analysis of retention risk and event-driven economics at the Fund level .
- Trading signals: Section 16 compliance and zero beneficial ownership by Leiter indicate no current insider-selling pressure signals from his personal holdings; monitor future proxies or filings for any ownership changes .
- Strategy continuity: The Adviser’s confirmation of no changes to fund strategy at the leadership transition reduces execution-risk concerns tied to mandate shifts .