Valerie Naratil
About Valerie Naratil
Valerie Naratil is Public Relations Officer of Blackstone Strategic Credit 2027 Term Fund (BGB) and related Blackstone Credit & Insurance closed‑end funds, with a birth year of 1988 and officer tenure since February 2021. She is a Managing Director in Blackstone Credit & Insurance’s Liquid Credit Strategies (LCS) Product Management team; prior experience includes UBS Investment Bank advising healthcare corporates. Fund filings do not disclose individual officer compensation metrics (e.g., TSR/EBITDA ties) or officer‑level performance scorecards; moreover, officers employed by Blackstone receive no compensation from the Funds, so pay‑for‑performance at the fund level is not presented for her role .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Blackstone Credit & Insurance (Liquid Credit Strategies) | Managing Director; Product Management team member | Joined 2014; Officer since Feb 2021 | Product management/investor-facing leadership supporting LCS strategies and the closed‑end funds . |
| UBS Investment Bank | Healthcare investment banking (corporate advisory) | Pre‑2014 | Sector advisory experience useful for investor communications and product positioning . |
External Roles
- Not disclosed in fund proxy materials reviewed; no other public company directorships or external board roles were listed for Naratil .
Fixed Compensation
| Component | 2024–2025 Fund Disclosure | Notes |
|---|---|---|
| Fund‑paid salary/bonus to officers | None. Officers employed by Blackstone Credit & Insurance “receive no compensation or expense reimbursement from the Funds.” | Implies cash compensation is paid by Blackstone (private) and not reported in BGB’s proxy; no officer‑level salary/bonus is disclosed by the Fund . |
The Funds have no Compensation Committee; the Nominating & Governance Committee reviews Independent Trustee compensation only (not applicable to officers employed by Blackstone) .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for Fund officers | N/A | N/A | N/A | N/A | N/A |
- No RSU/PSU/option grant tables, vesting schedules, clawback terms, or change‑in‑control economics are disclosed for Fund officers employed by Blackstone in BGB’s proxy .
Equity Ownership & Alignment
| Item | Disclosure |
|---|---|
| Individual beneficial ownership (Valerie Naratil) | Not individually disclosed in BGB proxy tables reviewed. Trustees and Executive Officers as a group held 265 BGB common shares (<1%) as of Dec 31, 2024 . |
| 5%+ holders of BGB common | None reported as of Dec 31, 2024 . |
| BGB Preferred Shares ownership | MetLife Investment Management, LLC held 100% (45,000 preferred shares) as of Dec 31, 2024 . |
| Section 16 compliance | Fund reports all applicable officers/Trustees were in compliance with Section 16(a) filing requirements in FY2024 . |
| Stock ownership/pledging guidelines (officers) | Not disclosed in BGB proxy materials reviewed . |
Employment Terms
| Term | Disclosure |
|---|---|
| Appointment/tenure | Public Relations Officer; officer since February 2021; term of office “Indefinite” . |
| Employer | Managing Director at Blackstone Credit & Insurance, LCS Product Management team (officer role at the Funds) . |
| Compensation governance at Fund | No Compensation Committee; Nominating & Governance Committee reviews Independent Trustee compensation only . |
| Employment contract, severance, change‑of‑control, clawbacks (officers) | Not disclosed for Fund officers employed by Blackstone in BGB’s proxy . |
| Non‑compete/solicit, garden leave, consulting | Not disclosed in BGB’s proxy . |
Additional Context for Governance and Oversight
- Trustees (not officers) receive cash retainers; Independent Trustee compensation levels (to benchmark governance quality) are disclosed, but they do not apply to officers employed by Blackstone .
- The Funds report Board and committee structures (Audit; Nominating & Governance) and meeting activity; no Compensation Committee exists, reinforcing that officer pay is outside the Fund and within Blackstone .
Investment Implications
- Pay‑for‑performance transparency at the Fund level is limited for officers employed by Blackstone: the proxy states officers receive no compensation from the Funds, and it provides no officer‑level salary/bonus/equity or vesting schedules. This reduces direct insight into selling pressure or award‑driven vesting events tied to BGB specifically .
- Ownership alignment from Fund disclosures is modest at the group level (Trustees and Executive Officers as a group held 265 BGB shares, <1%), and no individual officer breakdown for Naratil is provided—limiting signal on personal “skin in the game” at the Fund level .
- With no Fund‑level severance, CIC, or clawback disclosures for officers, retention and incentive levers likely sit within Blackstone’s private compensation framework, not BGB; trading signals (e.g., Form 4 activity) would need to be monitored separately, as proxies do not enumerate officer transactions (only confirm Section 16 compliance) .
- Bottom line: For Valerie Naratil, BGB filings support her senior investor/product management remit and tenure but do not disclose compensation mechanics or equity that would typically inform sell‑pressure timing or alignment. Focus surveillance on any Form 4 filings, changes in officer listings across proxies, and Blackstone LCS product flows/performance commentary for indirect signals, as Fund proxies are structurally limited on officer‑level incentives .