Anthony Grillo
About Anthony Grillo
Anthony Grillo (birth year 1955) is a Non‑Interested (Independent) Director of BrandywineGLOBAL – Global Income Opportunities Fund Inc. (BWG), appointed effective November 15, 2024 and nominated/elected as a Class I Director to serve until the 2028 annual meeting . He brings a private equity and investment banking background, including founding and leading American Securities Opportunity Funds (2006–2018), and senior roles at Evercore, Joseph Littlejohn & Levy, and The Blackstone Group .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| American Securities Opportunity Funds | Founder, Managing Director & Partner | 2006–2018 | Led private equity/credit strategy |
| Evercore Partners Inc. | Senior Managing Director | 2001–2004 | Investment banking leadership |
| Joseph Littlejohn & Levy, Inc. | Senior Managing Director | 1999–2001 | Private equity deal leadership |
| The Blackstone Group L.P. | Senior Managing Director | 1991–1999 | Private equity/credit leadership |
External Roles
| Company/Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| Littelfuse, Inc. | Director | Since 1991 | Public company board service |
| Oaktree Acquisition Corp. | Director | 2019–2021 | SPAC (former) |
| Oaktree Acquisition Corp. II | Director | 2020–2022 | SPAC (former) |
Board Governance
- Independence and Board Structure: The BWG Board comprises eight directors, seven of whom are Independent; the Chair (Eileen A. Kamerick) is an Independent Director, and Independent Directors regularly meet in executive session outside management and are advised by independent counsel .
- Committee Assignments for Grillo: Member, Audit; Compensation; Nominating; Pricing & Valuation Committees .
- Committee Chairs and Expertise: Audit Committee chaired by Nisha Kumar (designated “audit committee financial expert”); Compensation Committee chaired by Peter Mason; Pricing & Valuation Committee chaired by Carol L. Colman; Nominating Committee chaired by Hillary A. Sale .
- Meeting Frequency and Attendance: FY ended Oct 31, 2024 had four regular and one special Board meeting; each Director (serving during that fiscal year) attended at least 75% of meetings; no Directors attended the 2024 annual meeting of stockholders (note: Grillo joined after FY2024) .
Fixed Compensation
| Metric | FY Ended 10/31/2024 | CY Ended 12/31/2024 |
|---|---|---|
| Aggregate Compensation from BWG ($) | — (joined post-FY) | $32,989 (Fund & Fund Complex total) |
| Pension/Retirement Benefits | None provided | None provided |
| Directorships in Fund Complex | 17 funds overseen | 17 funds overseen |
Notes: Grillo became a Director effective November 15, 2024; totals include service across committees within BWG and other investment companies advised by FTFA .
Performance Compensation
| Element | Disclosure | Details |
|---|---|---|
| Equity awards (RSUs/PSUs/Options) | Not disclosed | Proxy presents cash compensation totals; no equity awards detailed |
| Performance metrics tied to compensation | Not disclosed | No revenue/EBITDA/TSR/ESG metrics reported for directors |
| Clawbacks/COC/Severance | Not disclosed | Director‑specific provisions not described |
Other Directorships & Interlocks
| Company | Industry | Overlap/Interlock with BWG Ecosystem |
|---|---|---|
| Littelfuse, Inc. | Electronics manufacturing | No BWG/Franklin Templeton adviser interest reported; board qualification limits on other boards apply via bylaws |
| Oaktree Acquisition Corp./II (former) | SPACs | Former roles; no related party exposure disclosed |
Expertise & Qualifications
- Private equity and credit investing; managing director experience at leading firms (Blackstone, Evercore; founding American Securities Opportunity Funds) .
- Fund Board qualification requirements include experience, limits on service on other boards, character/fitness; determinations made by the Nominating Committee per bylaws .
Equity Ownership
| As of Date | Dollar Range of BWG Equity Owned | Aggregate Dollar Range Across Funds Overseen | Group Ownership |
|---|---|---|---|
| Dec 31, 2024 | A = None | A = None | Directors and officers as a group <1% of outstanding shares |
Insider Trades (2025)
| Filing/Transaction Date | Transaction | Quantity | Price | Source |
|---|---|---|---|---|
| May 27, 2025 (filed May 28) | Open market purchase | 1,500 shares | $8.03 | |
| Sep 4, 2025 | Form 4 filed (relationship: Director) | — | — | |
| Oct 31, 2025 | Form 4 filing (Grillo) | — | — | |
| Reference index | Insider trades page for BWG (CIK 1504545) | — | — |
No pledging/hedging disclosures were identified for Grillo in the proxy; directors as a group owned <1% of outstanding shares as of February 7, 2025 .
Governance Assessment
-
Strengths
- Independent director with deep transactional/credit experience; serves on all key oversight committees (Audit, Compensation, Nominating, Pricing & Valuation), enhancing board effectiveness in valuation, financial reporting, and pay governance .
- Board leadership is independent (Chair: Eileen Kamerick) and Independent Directors meet in executive session with independent counsel—positive for investor confidence .
- Open‑market purchase in 2025 signals alignment and personal risk‑taking, incrementally improving skin‑in‑the‑game post‑appointment .
-
Watch‑Items / Potential Red Flags
- Low ownership at appointment (none as of Dec 31, 2024) before subsequent purchases; ongoing monitoring of ownership growth is warranted .
- Attendance data disclosed applies to FY2024 and not directly to Grillo (joined post‑FY); confirm 2025 attendance once available .
- No detailed director compensation mix (retainer vs meeting/committee fees) or equity/deferred units disclosed—limits assessment of pay‑for‑performance alignment at the director level .
-
Conflicts/Related‑Party Exposure
- The proxy states no Director (who is not an “interested person”) nor immediate family members had interests in the Fund’s adviser or related affiliates as of Dec 31, 2024, mitigating related‑party risks .
- Board/bylaw qualification requirements include limits on other boards and character/fitness, reducing overboarding/conflict risk .
Additional Procedural/Shareholder Items
- Election mechanics and outcomes: Grillo nominated and elected as a Class I Director to 2028; voting structure noted for common and preferred holders including Maryland Control Share Acquisition Act implications .
Summary Implications for Investors
- Grillo’s committee breadth and finance pedigree support board oversight in valuation and audit—constructive for governance quality .
- Ownership was initially minimal; subsequent open‑market buying improves alignment but remains small—continue tracking Form 4s for trend and any pledging/hedging .
- No related‑party transactions disclosed and an independent board leadership structure are positive signals for investor confidence .