Gregory Roppa
About Gregory Roppa
Gregory Roppa is Chief Financial Officer and Treasurer of Blackstone Long-Short Credit Income Fund (BGX), serving since March 2022 with an indefinite term. He is a Managing Director in Blackstone’s Global Fund Finance group focusing on accounting and financial reporting for entities within Blackstone Credit & Insurance and Real Estate; prior to Blackstone (joined in 2019), he was Director of Operations and Fund Accounting at Clinton Group Inc. . The 2025 proxy lists his birth year as 1979 (note: the 2024 proxy listed 1976) . For fund performance context, BGX’s NAV and market-price total returns through June 30, 2024 are below .
| Metric | 10 Year | 5 Year | 3 Year | 1 Year | 6 Month | Since Inception |
|---|---|---|---|---|---|---|
| BGX Total Return (NAV) | 5.41% | 5.53% | 4.00% | 14.32% | 5.39% | 5.82% |
| BGX Total Return (Market Price) | 5.46% | 4.54% | 2.67% | 21.91% | 13.21% | 4.94% |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Blackstone (Global Fund Finance) | Managing Director | 2019–present | Led accounting and financial reporting for Credit & Insurance and Real Estate entities, supporting fund finance and reporting quality |
| Clinton Group Inc. | Director of Operations and Fund Accounting | Before 2019 | Ran fund accounting operations at an alternative asset manager, building technical finance and reporting expertise |
External Roles
- No additional public company board roles disclosed for Roppa in BGX proxies .
Fixed Compensation
- Officers employed by Blackstone Credit & Insurance receive no compensation or expense reimbursement from BGX (and the related closed-end funds). As CFO/Treasurer, Roppa’s compensation is not paid by BGX and is not disclosed in BGX’s proxy materials .
Performance Compensation
- Not disclosed at the fund level. BGX does not provide officer bonus, PSU/RSU, or option award details; officers are paid by Blackstone rather than by the fund .
Equity Ownership & Alignment
| Item | BGX Value |
|---|---|
| Total beneficial ownership (shares) | 0 |
| Ownership as % of shares outstanding | 0% |
| Shares outstanding (BGX Common) | 12,708,275 |
| Vested vs unvested shares | Not disclosed (fund officers typically do not receive fund equity) |
| Options (exercisable/unexercisable) | Not disclosed at fund level |
| Shares pledged as collateral | Not disclosed |
| Ownership guidelines (multiple of salary) | Not disclosed |
Notes: The BGX proxy shows trustees’ and officers’ fund share holdings as of Dec. 31, 2024; Roppa held 0 BGX shares . Officers employed by Blackstone do not receive compensation from BGX .
Employment Terms
| Term | Detail |
|---|---|
| Role | Chief Financial Officer and Treasurer |
| Officer since (BGX) | March 2022 |
| Term length | Indefinite |
| Employer/affiliation | Managing Director, Global Fund Finance at Blackstone |
| Contract, severance, change-of-control | Not disclosed in BGX filings |
| Non-compete / non-solicit / garden leave | Not disclosed in BGX filings |
| Section 16 compliance | Funds report all required filings complied with for FY2024 |
Board Governance
- Roppa is not a Trustee and does not serve on BGX board committees; committee memberships are limited to Independent Trustees .
- BGX has no Compensation Committee; the Nominating and Governance Committee reviews compensation arrangements for Independent Trustees only (officers receive no fund compensation) .
Performance & Track Record
- Context on fund positioning: BGX’s outperformance versus an 85% loans / 15% HY composite on NAV for 6M, 1Y, 5Y, 10Y periods was driven by leverage, credit selection within loans, and CLO allocation, with key positive contributors including Global Medical Response and Radiology Partners; detractors included Atlas CC Acquisition and Magenta Buyer .
- Portfolio characteristics (as of June 30, 2024): Average All-In Rate 8.54%, Dividend Yield 10.14%, Leverage 31.95% .
Expertise & Qualifications
- Managing Director, Global Fund Finance (Blackstone) focusing on fund accounting and reporting for Blackstone Credit & Insurance and Real Estate .
- Prior Director of Operations and Fund Accounting at Clinton Group Inc. .
- Public bios indicate a CPA designation and Binghamton University background, consistent with a fund-finance professional profile .
Compensation Structure Analysis
- Pay-for-performance linkage at BGX cannot be assessed: officer compensation is not paid by BGX and not reported in fund proxies; there are no disclosed fund-level bonuses, RSUs/PSUs, options, severance, or change-of-control terms for officers .
- Absence of fund-level compensation detail reduces transparency for aligning officer incentives with BGX TSR or distribution policy (structural feature of 1940 Act closed-end funds managed by external adviser) .
Related Party Transactions & Risk Indicators
- No related-party transactions involving Roppa disclosed; Independent Trustees also disclosed no material interests in the Adviser or affiliates over the past five years .
- No legal proceedings or investigations concerning Roppa disclosed in BGX documents .
Say-on-Pay & Shareholder Feedback
- Not applicable for BGX officers; trustees receive retainers disclosed in the proxy, but officer compensation is not paid by the funds .
Compensation Peer Group
- Not applicable; BGX does not disclose an executive compensation peer group for officers (trustee compensation practices disclosed separately) .
Investment Implications
- Alignment: Roppa holds 0 BGX shares, and officers receive no compensation from the fund—typical for externally advised closed-end funds but provides limited direct ownership alignment at the fund level .
- Retention risk: Employment and compensation are at Blackstone; tenure since March 2022 and senior MD role suggest organizational continuity, but fund investors lack visibility into officer-level incentives or severance/change-in-control terms at the adviser level .
- Trading signals: No insider ownership or trading by Roppa in BGX disclosed; Section 16 compliance noted, reducing the likelihood of undisclosed selling pressure signals from officers .
- Performance context: BGX’s returns through June 30, 2024 reflect effective leverage and credit selection per adviser commentary; assessing pay-for-performance for officers is not feasible due to non-disclosure of adviser-level compensation .