Thomas Jasper
About Thomas W. Jasper
Thomas W. Jasper (born 1948) is an Independent Trustee of Blackstone Strategic Credit 2027 Term Fund (BGB), serving since May 2012; he is Chairman of the Audit Committee and a member of the Nominating and Governance Committee, and is designated the Board’s “audit committee financial expert.” His principal occupation over the past five years is Managing Partner of Manursing Partners LLC, a consulting firm; his current BGB trustee term expires at the 2027 annual meeting.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Sisecam Resources LP (formerly Ciner Resources LP) (MLP) | Director (other directorship) | Until 2023 | Not disclosed in BGB proxy |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Manursing Partners LLC | Managing Partner | Past five years (disclosed) | Consulting firm |
Board Governance
- Committees and roles: Audit Committee (Chair; financial expert); Nominating & Governance Committee (Member; chaired by Gary S. Schpero).
- Independence: The Audit Committee comprises Independent Trustees; members determined not to be “interested persons” under the 1940 Act and are “independent” under NYSE listing standards.
- Attendance and engagement: In FY2024 each Board met 8 times and each Trustee attended at least 75% of Board and applicable committee meetings; in FY2023 BGB’s Board met 11 times and each Trustee attended at least 75%.
- Committee meeting cadence: Audit Committee met 4 times (FY2024) and 5 times (FY2023); Nominating & Governance met 3 times (FY2024) and 4 times (FY2023).
- Recent composition change: Edward H. D’Alelio resigned Feb 21, 2025; Audit Committee currently consists of Jasper, Schpero, and Siebels (three Independent Trustees).
| Committee | Membership | Chair | Meetings FY2023 | Meetings FY2024 |
|---|---|---|---|---|
| Audit | Member | Thomas W. Jasper | 5 | 4 |
| Nominating & Governance | Member | Gary S. Schpero | 4 | 3 |
Fixed Compensation
- Cash retainer structure: Annual Trustee retainer $155,000; Audit Committee Chair retainer $12,000; Nominating & Governance Committee Chair retainer $12,000; Lead Independent Trustee retainer $16,000. Fees are paid quarterly and allocated pro rata across the closed-end funds based on each fund’s average NAV.
- Jasper’s fund-complex cash compensation remained stable at $167,000 in FY2022–FY2024.
| Director Compensation ($USD) | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| BSL (Blackstone Senior Floating Rate 2027 Term Fund) | $26,594 | $27,249 | $31,699 |
| BGX (Blackstone Long-Short Credit Income Fund) | $23,094 | $23,897 | $27,825 |
| BGB (Blackstone Strategic Credit 2027 Term Fund) | $77,539 | $80,589 | $94,216 |
| Total Compensation Paid from Fund Complex | $167,000 | $167,000 | $167,000 |
| Cash Retainer Elements (FY2024) | Amount |
|---|---|
| Annual Trustee Retainer | $155,000 |
| Audit Committee Chair Retainer | $12,000 |
| Nominating & Governance Committee Chair Retainer | $12,000 |
| Lead Independent Trustee Retainer | $16,000 |
Performance Compensation
- The proxy discloses only cash retainers for Independent Trustees; no equity grants (RSUs/PSUs), options, bonuses, or performance-linked metrics for director compensation are disclosed.
| Performance-Based Element | Disclosure |
|---|---|
| Equity grants (RSUs/PSUs) | Not disclosed (cash retainers only) |
| Stock options | Not disclosed (cash retainers only) |
| Annual/Discretionary bonus | Not disclosed (cash retainers only) |
| Performance metrics tied to pay (TSR, EBITDA, ESG) | Not disclosed (N/A for independent trustees) |
| Clawback provisions (directors) | Not disclosed |
Other Directorships & Interlocks
| Entity | Role | Overlap with BGB | Potential Conflict Notes |
|---|---|---|---|
| Sisecam Resources LP (formerly Ciner Resources LP) | Director (until 2023) | None indicated | Trustees and immediate families did not own securities in the Adviser or its affiliates; no >$120,000 transactions with Adviser/affiliates in past two fiscal years. |
Expertise & Qualifications
- Audit committee financial expert designation and Audit Committee Chair across the Funds.
- Longstanding governance experience as Independent Trustee (BGB since May 2012).
- Current professional background in consulting (Managing Partner, Manursing Partners LLC).
Equity Ownership
- As of December 31, 2024, Jasper owned 2,500 BSL common shares (<1%), and held 0 shares of BGX and 0 shares of BGB; group totals across Trustees/Officers are negligible relative to outstanding shares.
- Dollar ranges disclosed: BSL $10,001–$50,000; BGX None; BGB None; aggregate dollar range across the family $10,001–$50,000.
| Fund | Shares Owned | % of Shares Outstanding |
|---|---|---|
| BSL Common Shares | 2,500 | <1% |
| BGX Common Shares | 0 | 0% |
| BGB Common Shares | 0 | 0% |
| Dollar Range (as of Dec 31, 2024) | BSL | BGX | BGB | Aggregate Family Range |
|---|---|---|---|---|
| Thomas W. Jasper | $10,001–$50,000 | None | None | $10,001–$50,000 |
Governance Assessment
- Strengths: Independent status under 1940 Act/NYSE, leadership as Audit Chair, and explicit financial expert designation support board oversight of reporting, internal controls, and auditor independence.
- Engagement: Regular committee and board meetings with minimum attendance thresholds met; Audit (5 in FY2023; 4 in FY2024) and Nominating (4 in FY2023; 3 in FY2024) cadence suggests active governance.
- Alignment considerations: No BGB share ownership and low aggregate holdings may be viewed as weaker direct economic alignment with BGB investors, though policy-based independence and lack of adviser/affiliate interests are positive mitigants.
- Conflicts/Related-party exposure: Proxy disclosures indicate no >$120,000 related-party transactions involving Independent Trustees with the Adviser or affiliates, and no securities (beneficial or record) owned in the Adviser or affiliates—reducing conflict risk.
- Board composition changes: D’Alelio’s 2025 resignation reduced Audit Committee membership from four to three; Jasper remains Chair—continuity of financial oversight preserved.
Overall, Jasper’s independence, audit leadership, and financial expertise underpin board effectiveness. The absence of BGB equity ownership is a modest alignment gap, but governance processes and independence safeguards are robust per disclosed committee operations and policies.