Gregory Roppa
About Gregory Roppa
Gregory Roppa is Chief Financial Officer and Treasurer of Blackstone Senior Floating Rate 2027 Term Fund (BSL), serving as an officer since March 2022; his birth year is 1979. He is a Managing Director in Blackstone’s Global Fund Finance group focused on accounting and financial reporting for entities within Blackstone Credit & Insurance and Real Estate; prior to Blackstone (joined 2019), he was Director of Operations and Fund Accounting at Clinton Group Inc. . As finance leadership for an externally managed closed-end fund, his compensation is paid by the adviser (not the Fund), and the Fund discloses no officer compensation; performance context for his tenure includes BSL total return as of 6/30/2024: NAV 3-year 4.82%, 5-year 5.76%, 10-year 5.21%; market price 3-year 3.28%, 5-year 4.43%, 10-year 5.30% . His current title is also affirmed via BSL’s N-CEN signature page (signed as Treasurer and CFO on 3/17/2025) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Blackstone (Blackstone Credit & Insurance; Global Fund Finance) | Managing Director; accounting and financial reporting focus | 2019–Present | Oversees fund finance/reporting for credit and real estate entities, including BSL and sister funds |
| Clinton Group Inc. (alternative asset manager) | Director of Operations and Fund Accounting | Pre-2019 | Led operations and fund accounting at an alternatives manager |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed in Fund filings | — | — | — |
Fixed Compensation
- Officers employed by Blackstone Credit & Insurance receive no compensation or expense reimbursement from the Funds; the proxy provides no disclosure of base salary, bonus, or equity for officers at the adviser level .
Performance Compensation
- No performance-based compensation for officers is disclosed by BSL; officers are compensated by the adviser and not by the Funds, and the proxy provides no metrics, targets, or payouts tied to Fund performance for officers .
Equity Ownership & Alignment
| Holder | BSL Common Shares Owned | % Outstanding | BGX Common Shares Owned | BGB Common Shares Owned | Notes |
|---|---|---|---|---|---|
| Gregory Roppa | 0 | 0% | 0 | 0 | As of December 31, 2024; trustees and officers table shows no holdings |
- Vested vs. unvested shares, options, pledging: Not disclosed; ownership table indicates no shares held, so no pledging or insider selling pressure from personal holdings at the Fund level .
Employment Terms
| Item | Disclosure |
|---|---|
| Officer titles | Chief Financial Officer and Treasurer |
| Officer since | March 2022 (BSL/BGX/BGB) |
| Term | Indefinite (officer term of office) |
| Compensation source | No compensation paid by the Funds to officers employed by Blackstone Credit & Insurance |
| Severance / Change-of-control | Not disclosed in Fund proxy |
| Clawbacks, non-compete, non-solicit, garden leave | Not disclosed in Fund proxy |
Performance & Track Record Context (Fund-Level)
| Metric | Since Inception | 10-Year | 5-Year | 3-Year | 1-Year | 6-Month |
|---|---|---|---|---|---|---|
| BSL Total Return (NAV) | 5.72% | 5.21% | 5.76% | 4.82% | 14.04% | 5.29% |
| BSL Total Return (Market Price) | 4.97% | 5.30% | 4.43% | 3.28% | 20.84% | 9.22% |
| Benchmark: Morningstar LSTA US Leveraged Loan Index | 5.05% | 4.60% | 5.53% | 6.14% | 11.11% | 4.40% |
| All as of June 30, 2024; returns are annualized where applicable; assumes reinvested distributions . |
- Administrative confirmations: N-CEN indicates Roppa signed as Treasurer and CFO on March 17, 2025; advisory fee 1.33% of net assets and net annual operating expense 5.10% are disclosed for fund expenses (context for fund structure and adviser relationship) .
Governance/Board Context (for completeness)
- Board committees (Audit; Nominating & Governance) composed of independent trustees; Audit Committee met four times in FY2024; Thomas W. Jasper designated audit committee financial expert (Chair of Audit Committee); Mr. Schpero chairs Nominating & Governance Committee .
Investment Implications
- Pay-for-performance linkage: No fund-paid officer compensation or incentive metrics are disclosed; as an adviser-employed finance executive, Roppa’s compensation drivers are outside the Fund’s proxy, limiting analysis of alignment and incentives at the Fund level .
- Ownership alignment and selling pressure: He holds no Fund shares across BSL/BGX/BGB as of 12/31/2024, implying no direct insider selling pressure or pledging risk at the Fund level; however, it also limits “skin-in-the-game” optics for this role .
- Retention/contract risk: Officer term is indefinite, and no severance or change-of-control terms are disclosed for officers; as a Blackstone MD in Fund Finance, retention dynamics likely reside with Blackstone policies rather than the Fund’s board documents .
- Performance backdrop: Fund-level returns over the last 1–10 years provide context for operational execution during his tenure, but there is no disclosed officer-level performance pay or targets to assess direct incentive alignment; recent performance shows double-digit 1-year total returns at both NAV and market price into mid-2024 .
Citations: Officer biography, tenure, and roles ; N-CEN signature/title confirmation ; officer compensation not paid by Funds ; ownership table (0 shares) ; BSL total return performance table ; committee composition and meetings ; N-CEN expense/fee context .