Daniel Leiter
President and Chief Executive Officer at Blackstone Senior Floating Rate 2027 Term Fund
CEO
Executive
Board
About Daniel Leiter
Daniel Leiter (Birth Year: 1983) serves as Trustee, Chairman of the Board, President, and Chief Executive Officer of Blackstone Senior Floating Rate 2027 Term Fund (BSL), appointed effective November 15, 2024; he is an “interested person” due to his employment with the Adviser and is based in London . He 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 at Morgan Stanley with global responsibility for Securitized Products Trading and Alternative Financing and headed European Securitized Products across trading, sales, structuring, and lending . BSL’s Board designated a Lead Independent Trustee and has committees chaired by independent trustees to balance Mr. Leiter’s dual role as Chairman and CEO . The 2025 proxy nominates him for a three‑year trustee term expiring at the 2028 Annual Meeting (Class II at BSL) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Blackstone Credit & Insurance | Head of International; Global Head of Liquid Credit Strategies | 2024–present (appointed to BSL officer roles Nov 15, 2024) | Leads Liquid Credit Strategies globally; senior leadership role overseeing international operations |
| Morgan Stanley | Managing Director, Fixed Income; global lead for Securitized Products Trading & Alternative Financing; head of European Securitized Products | Until 2024 (start date not disclosed) | Led global securitized products trading/financing and European securitized products across trading, sales, structuring, lending |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | None disclosed | — | No other directorships during past five years listed in proxy |
Fixed Compensation
Officers employed by Blackstone Credit & Insurance receive no compensation or expense reimbursement from the Funds (i.e., BSL does not pay Mr. Leiter a salary, bonus, or fees) .
| Component | Amount/Policy | Source |
|---|---|---|
| Fund-paid salary to officers employed by Adviser | None (not paid by Funds) | Proxy disclosure |
| Fund-paid bonus to officers employed by Adviser | None (not paid by Funds) | Proxy disclosure |
| Trustee cash retainer (Independent Trustees only; for context) | $155,000 per annum; Audit Chair +$12,000; Nominating & Governance Chair +$12,000; Lead Independent Trustee +$16,000; paid quarterly and allocated pro rata across funds | Proxy disclosure |
| Daniel Leiter (Interested Trustee) fund-paid compensation | $0 (employed by Adviser) | Proxy disclosure |
Performance Compensation
The Funds do not disclose any equity or performance-based compensation for officers employed by the Adviser; there are no RSU/PSU/option awards, vesting schedules, or fund-level performance metrics tied to Mr. Leiter’s compensation in the proxy (officers employed by the Adviser receive no compensation from the Funds) . Accordingly, no fund-level clawbacks, severance, change-in-control, or tax gross-ups are disclosed for Mr. Leiter in the proxy .
Equity Ownership & Alignment
| Holder | BSL Common Shares (count, % outstanding) | BGX Common Shares (count, % outstanding) | BGB Common Shares (count, % outstanding) | BGB Preferred Shares (count, % outstanding) | Dollar range of holdings (per fund) |
|---|---|---|---|---|---|
| Daniel Leiter | 0 (0%) | 0 (0%) | 0 (0%) | 0 (0%) | None across BSL/BGX/BGB |
- Beneficial ownership table reflects holdings as of December 31, 2024; no pledging/hedging disclosures specific to Mr. Leiter are provided in the proxy .
- Stock ownership guidelines for officers/directors are not specified in the proxy; compliance status not disclosed .
Employment Terms
| Term | Detail |
|---|---|
| Appointment date and roles | Appointed Trustee, Chairman, President, and CEO effective Nov 15, 2024, following the resignation of Robert Zable; officer term of office is “Indefinite” |
| Trustee term | Nominated for Class II (BSL) term expiring at the 2028 Annual Meeting (election pending shareholder vote) |
| Independence status | “Interested person” due to employment with the Adviser (Blackstone) |
| Compensation from Funds | None (officers employed by Adviser receive no fund compensation) |
| Contract terms (base, bonus, severance, CIC, non-compete, garden leave) | Not disclosed by Funds; any employment agreement would be with the Adviser, not the Funds |
| Address on file | Berkeley Square House, London, W1J 6BD, United Kingdom |
Board Governance
- Board leadership: Each Board has four Trustees; Mr. Leiter serves as Chairman. A Lead Independent Trustee (Jane Siebels) is appointed, and all committees are chaired by Independent Trustees to help ensure independent oversight while the Chair is an interested person .
- Committees:
- Audit Committee: Independent Trustees (Jasper, Schpero, Siebels); met 4 times in FY 2024; Thomas W. Jasper designated “audit committee financial expert” and serves as Chair .
- Nominating & Governance Committee: Independent Trustees (Jasper, Schpero, Siebels); met 3 times in FY 2024; chaired by Gary S. Schpero .
- Compensation Committee: None; Nominating & Governance reviews compensation arrangements for Independent Trustees .
- Meetings and attendance: Each Board met eight times in FY 2024; each Trustee then serving attended at least 75% of meetings of the Board and applicable committees .
Director Compensation (context)
| Item | Amount/Policy |
|---|---|
| Independent Trustee retainer | $155,000 per annum (allocated across the Blackstone Credit & Insurance Closed-End Funds) |
| Committee chair fees | Audit Chair: +$12,000; Nominating & Governance Chair: +$12,000 |
| Lead Independent Trustee fee | +$16,000 |
| Officers/Interested Trustee (e.g., Leiter) | No compensation paid by the Funds |
Performance & Track Record
- Tenure context: Mr. Leiter’s appointment occurred late in 2024; the proxy does not present TSR or operational performance attribution for his tenure at BSL, and such metrics are generally not included for investment company officers .
- Professional background: Leadership within Blackstone Credit & Insurance’s Liquid Credit Strategies and prior global/ex‑Europe securitized products leadership at Morgan Stanley are highlighted as qualifications .
Related Party Transactions and Conflicts
- Independence note focuses on Independent Trustees; Mr. Leiter is explicitly an “interested person” due to Adviser employment. The proxy describes that Independent Trustees and their families had no material interests in the Adviser or affiliates over the relevant periods; no comparable representation is made for interested persons, which is consistent with his employed status at the Adviser .
Say‑on‑Pay, Shareholder Feedback, and Peer Group
- The Funds’ proxy does not include say‑on‑pay votes, compensation peer groups, or shareholder feedback on executive pay; Independent Trustee compensation is set by the Boards (via Nominating & Governance review), not a shareholder-advisory vote .
Investment Implications
- Alignment: Mr. Leiter holds no disclosed BSL/BGX/BGB shares as of Dec 31, 2024; there is no immediate insider‑selling overhang or pledging risk from existing fund holdings, but alignment via personal ownership is currently minimal; monitor future Form 4 activity and any disclosed ownership changes .
- Pay-for-performance: Because he is employed by the Adviser, the Funds do not pay him cash or equity; fund‑level incentives/vesting/COC terms are not applicable, limiting fund‑level pay-for-performance analysis. Any incentives would be within Blackstone’s internal compensation system (not disclosed in the proxy) .
- Governance: Dual role (Chairman/CEO and interested person) is mitigated by a Lead Independent Trustee and independent committee chairs; committees met regularly with required financial expertise present on Audit, supporting oversight of valuation, audit, and nominations .
- What to watch: Future proxy or 8‑K disclosures around any changes to board composition or leadership; beneficial ownership changes; any adoption of ownership guidelines or pledging/hedging policies; and meeting frequency/attendance trends as indicators of governance rigor .