Robert Bass
About Robert Bass
Independent Trustee since 2018; born 1949; designated Audit Committee Financial Expert. Former Vice Chairman (2006–2012) and Partner (1982–2012) at Deloitte & Touche LLP, bringing deep audit, accounting, and financial reporting expertise. Currently serves on multiple public company boards including Groupon, Redfin (through 2025), and Lucky Strike Entertainment Corp (formerly Bowlero).
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Deloitte & Touche LLP | Partner; Vice Chairman | 1982–2012 (Partner), 2006–2012 (Vice Chairman) | Senior audit leadership; extensive accounting and internal controls oversight experience. |
External Roles
| Organization | Ticker | Role | Tenure | Notes |
|---|---|---|---|---|
| Groupon, Inc. | GRPN | Director | 2012–present | Public company director. |
| Redfin Corporation | RDFN | Director | 2016–2025 | Public company director; service concluded in 2025. |
| Lucky Strike Entertainment Corp (formerly Bowlero Corporation) | LUCK | Director | 2021–present | Public company director. |
Board Governance
- Committees: Audit (Chair), Nominating & Governance (member), Compensation (member). Robert Bass is independent under NYSE standards and “not an interested person” under the 1940 Act; designated “financially literate” and the Company’s “audit committee financial expert.”
- Audit Committee: Members are all independent; Bass is Chair. The Board determined Bass’s service on more than three public company audit committees does not impair effectiveness, given his extensive audit experience.
- Meetings and engagement: Audit Committee met 8 times (FY 2023 and FY 2024); Board met 8 times in FY 2024; each Trustee attended at least 75% of Board and applicable committee meetings.
Committee Meetings
| Committee | FY 2023 | FY 2024 |
|---|---|---|
| Audit Committee | 8 | 8 |
| Board of Trustees | — | 8 |
| Nominating & Governance Committee | 3 | — |
| Compensation Committee | 1 | — |
Fixed Compensation
- The Company pays only cash fees to Independent Trustees; no pension/retirement benefits; “interested” Trustees receive no compensation.
- Effective April 1, 2024: Annual retainer $200,000; Board meeting fee $2,500 per regular meeting; committee meeting fee $1,000; Audit Committee Chair fee $15,000; reasonable out-of-pocket expenses reimbursed.
- Prior to April 1, 2024: Annual retainer $150,000; Board meeting fee $2,500; committee meeting fee $1,000; Audit Chair fee $10,000.
FY 2024 Reported Trustee Compensation (Cash)
| Name | Fees Earned or Paid in Cash (Company) | Total Compensation Paid from Fund Complex | Notes |
|---|---|---|---|
| Robert Bass | $229,250 | $414,750 (incl. $185,500 from BCRED) | Includes compensation as Audit Committee Chair. |
Performance Compensation
- As a 1940 Act-regulated BDC organized as a Delaware statutory trust, BXSL is prohibited from issuing equity incentive compensation (e.g., stock options, RSUs) to Officers and Trustees; accordingly, directors receive cash-only fees and no performance-based equity awards.
- Clawback policy adopted to comply with NYSE Section 303A.14, but company currently neither pays nor plans to pay incentive compensation to Covered Executives.
Performance Metrics in Director Pay
| Element | Status | Basis |
|---|---|---|
| Equity awards (RSUs/PSUs/options) | Not permitted | 1940 Act prohibition for Trustees. |
| Cash meeting fees | Applicable | Board and committee attendance-driven. |
| Chair premium | Applicable | Audit Committee Chair annual fee. |
Other Directorships & Interlocks
- Current public boards: Groupon; Lucky Strike Entertainment Corp; prior Redfin through 2025.
- Compensation Committee Interlocks: During FY 2023, members (including Bass) were not officers/employees of BXSL and had no Item 404 relationships requiring disclosure; no reciprocal board/compensation committee interlocks with BXSL executive officers.
- Overboarding consideration: Board explicitly evaluated Bass’s service on audit committees of more than three public companies and deemed no impairment to BXSL Audit Committee effectiveness.
Expertise & Qualifications
- Audit/accounting expertise: Former Deloitte Vice Chairman/Partner; designated Audit Committee Financial Expert; financially literate per NYSE standards.
- Fund oversight: Oversees two portfolios in the BXSL fund complex.
Equity Ownership
- Dollar range of BXSL equity beneficially owned: Over $100,000 (as of June 27, 2025).
- Insider transactions (Form 4) indicate ongoing open-market purchases and DRIP participation.
Recent Form 4 Activity
| Date | Transaction Code | Shares | Price | Shares Owned After | Ownership Form | Notes |
|---|---|---|---|---|---|---|
| 2025-10-06 | P (Purchase) | 3,760 | $26.63 | 21,167 | Direct | Includes shares acquired via DRIP. |
| 2025-05-13 | P (Purchase) | 1,626 | $30.78 | 17,403 | Direct | Includes shares acquired via DRIP. |
Note: The Form 4 filings list address c/o Blackstone Private Credit Strategies LLC; the October 2025 filing was signed by attorney-in-fact and confirms DRIP participation.
Governance Assessment
- Strengths: Independent status; deep audit credentials; designated financial expert; active Audit Committee leadership and engagement (8 meetings in 2023 and 2024); cash-only director pay aligns with BDC constraints; personal open-market purchases support alignment.
- Structural context: BXSL operates with an external Adviser and Administrator per Investment Advisory and Administration Agreements; fees and waivers are disclosed at the company level (not specific to directors).
- RED FLAGS: Potential overboarding (service on more than three public company audit committees) flagged and assessed by Board as not impairing effectiveness; continue to monitor time commitments across Groupon, Lucky Strike, and prior Redfin service.
- Attendance: Each Trustee met at least 75% attendance in FY 2024; committee meetings were regular and documented; more granular individual attendance not disclosed.
- Conflicts/Related-party: No Item 404 relationships for Compensation Committee members in FY 2023; no disclosed loans or related-party transactions involving Bass.