Daniel Leiter
About Daniel Leiter
Daniel Leiter (birth year 1983) serves as Trustee, Chairman of the Board, President, and Chief Executive Officer of Blackstone Long-Short Credit Income Fund (BGX), appointed effective November 15, 2024; his officer term is indefinite and his Trustee term (Class I) runs through the 2028 Annual Meeting if elected . Leiter is Head of International for Blackstone Credit & Insurance and Global Head of Liquid Credit Strategies; prior to joining Blackstone in 2024, he was a Managing Director in Fixed Income at Morgan Stanley with global responsibility for Securitized Products Trading and Alternative Financing and as head of European Securitized Products across trading, sales, structuring, and lending . He is an “interested person” due to his employment with the Adviser; BGX’s boards mitigate dual-role governance by appointing a Lead Independent Trustee and having all committees chaired by independent trustees . Fund-level TSR, revenue growth, and EBITDA growth metrics tied to his role are not disclosed in the proxy; financial performance is addressed in the annual report referenced but not included here .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Blackstone Credit & Insurance | Head of International; Global Head of Liquid Credit Strategies | 2024–present | Executive leadership over Liquid Credit Strategies; oversight across fund complex |
| Morgan Stanley | Managing Director, Fixed Income; Global responsibility for Securitized Products Trading & Alternative Financing; Head of European Securitized Products | Prior to 2024 | Led global securitized products trading and financing; ran European SP across trading, sales, structuring, lending |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | Other public company directorships | — | None disclosed during past five years |
Fixed Compensation
| Component | Amount/Terms | Notes |
|---|---|---|
| Fund-paid Trustee/Officer Compensation | $0 | Trustees and Officers employed by Blackstone Credit & Insurance receive no compensation or expense reimbursement from the Funds . |
| Independent Trustee Compensation (context, not applicable to Leiter) | Retainer $155,000; Audit Chair $12,000; N&G Chair $12,000; Lead Independent $16,000 | Paid by the closed-end funds; allocated pro rata; Leiter does not receive these fees as an “interested person” employed by the Adviser . |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed at fund level | — | — | — | — | BGX does not maintain a Compensation Committee; Nominating & Governance reviews compensation only for Independent Trustees. Officers employed by the Adviser receive no fund compensation, so any performance pay would be under Blackstone employment arrangements (not disclosed in BGX proxy) . |
Equity Ownership & Alignment
| Security | Shares Owned | Ownership % | Dollar Range | Notes |
|---|---|---|---|---|
| BGX Common Shares | 0 | 0% | None | Beneficial ownership constitutes less than 1% where applicable; Leiter reported no holdings in BGX as of Dec 31, 2024 . |
| BSL Common Shares | 0 | 0% | None | — |
| BGB Common Shares | 0 | 0% | None | — |
| BGB Preferred Shares | 0 | 0% | — | — |
- Section 16(a) reporting compliance: the Funds believe all filing requirements applicable to officers and trustees were complied with for fiscal 2024 .
- No disclosure of hedging or pledging policies specific to trustees/officers was found in the proxy; dollar-range and share-count tables show Leiter held no fund shares as of the reporting date .
Employment Terms
| Item | Disclosure | Details |
|---|---|---|
| Officer Appointment | Effective date | Appointed Chairman, President, CEO effective November 15, 2024; officer term is indefinite . |
| Trustee Status | Class and term | BGX Class I Trustee; nominated for term expiring at 2028 Annual Meeting if elected . |
| Independence | Status | “Interested person” due to employment with the Adviser . |
| Board Leadership | Structure | Chairman: Daniel Leiter; Lead Independent Trustee: Jane M. Siebels; all committees chaired by Independent Trustees . |
| Committees | Audit Committee | Members: Thomas W. Jasper (Chair), Gary S. Schpero, Jane M. Siebels; met four times in FY2024; Jasper designated “audit committee financial expert” . |
| Committees | Nominating & Governance | Members: Jasper, Schpero, Siebels; chaired by Schpero; met three times in FY2024 . |
| Compensation Committee | Status | None; Nominating & Governance reviews Independent Trustee compensation . |
| Board Meetings | Attendance | Each Board met eight times in FY2024; each Trustee then serving attended ≥75% of meetings . |
| Severance/Change-of-Control | Fund-level terms | Not disclosed; officers employed by Adviser; fund does not pay officers . |
Board Governance Considerations (Dual-role implications)
- Dual role: Leiter serves as Chairman and CEO and is an “interested person.” Governance mitigants include a Lead Independent Trustee and independent chairs for all committees, with risk oversight through Audit and N&G committees .
- Voting and control mechanics: BGX applies the Delaware Statutory Trust control share statute limiting voting above thresholds absent shareholder reinstatement, reinforcing shareholder protections independent of management influence .
Investment Implications
- Alignment: Leiter holds no BGX shares (0 shares, 0% ownership), and receives no fund-level compensation; alignment and pay-for-performance incentives for BGX are mediated through his Blackstone employment rather than fund-specific equity or cash programs .
- Governance: The “interested” Chairman/CEO structure introduces potential independence concerns, but board design mitigates with Lead Independent Trustee, fully independent committee leadership, and formal risk oversight via Audit and N&G committees .
- Trading signals: Absence of fund-level equity ownership by Leiter implies limited insider selling pressure tied to BGX, but also limited direct fund-level economic exposure; monitor future proxies or Section 16 filings for any changes in beneficial ownership or disclosure of hedging/pledging policies .
- Retention risk: With no fund-level compensation and officer terms indefinite, retention and incentives hinge on Blackstone-level structures not disclosed here; any shifts in Blackstone roles or incentives could impact BGX leadership continuity .