Jeffrey J. Sherman
About Jeffrey J. Sherman
Jeffrey J. Sherman (born 1977) serves as Vice President of DoubleLine Opportunistic Credit Fund (DBL) and has been an officer of the Fund since inception (DBL since July 2011; also VP of DSL since Jan 2013 and DLY since Nov 2019). He is Deputy Chief Investment Officer of DoubleLine Group LP (since June 2016) and President/Portfolio Manager of DoubleLine Alternatives LP (since April/May 2015). Mr. Sherman holds a B.S. in Applied Mathematics (University of the Pacific), an M.S. in Financial Engineering (Claremont Graduate University), and is a CFA charterholder. Fund-level performance metrics such as TSR are reported in the Funds’ annual reports (not detailed in the proxy); officers’ compensation metrics are not disclosed at the Fund level.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DoubleLine Group LP | Deputy Chief Investment Officer | 2016–present | Guides firm-wide macro views and asset allocation; member of Executive Management, Fixed Income and Global Asset Allocation committees. |
| DoubleLine Alternatives LP | President; Portfolio Manager | 2015–present | Leads alternatives platform and portfolio management processes. |
| DoubleLine Capital LP | Portfolio Manager | 2010–present | Manages multi-sector and derivative-based strategies; key role in fixed income asset allocation. |
| DoubleLine Capital LP | Fixed Income Asset Allocation | 2009–present | Develops and implements top-down fixed income allocation across strategies. |
| DoubleLine Opportunistic Credit Fund (DBL) | Vice President | 2011–present | Fund officer since inception; supports governance and operations interface with adviser. |
| The TCW Group, Inc. | Senior Vice President; PM & Quant Analyst | –2009 | Ran fixed income/real-asset portfolios and quantitative analytics before joining DoubleLine. |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| University of the Pacific | Statistics & Mathematics Instructor | Prior to 2009 | Academic instruction in quantitative methods. |
| Florida State University | Statistics & Mathematics Instructor | Prior to 2009 | Academic instruction in quantitative methods. |
| USC/CFALA CFA Review Program | Instructor (Quant Methods – Level I) | “For many years” | Professional education; practitioner outreach. |
| The Sherman Show (DoubleLine) | Host | Ongoing | Investor communications and thought leadership on markets. |
Fixed Compensation
| Component | 2024 Status at Fund Level | Notes |
|---|---|---|
| Base salary | Not paid by the Funds | “Trustees and officers who are employed by DoubleLine or an affiliated company thereof do not receive any compensation or expense reimbursement from the Funds.” |
| Target/actual bonus | Not paid by the Funds | Compensation, if any, is paid by DoubleLine (the adviser), not disclosed in Fund proxy. |
| Equity/option awards from the Funds | None | No Fund-level equity awards to officers. |
Implication: Fund documents provide no visibility into Mr. Sherman’s salary/bonus structure at DoubleLine; no Fund-paid compensation reduces direct pay-for-performance alignment at the issuer (DBL) level.
Performance Compensation
| Metric/Plan | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|
| Not disclosed (Fund level) | — | — | — | — |
The proxy does not disclose any performance-based plans or metrics for Fund officers; any incentive design resides within DoubleLine and is not reported here.
Equity Ownership & Alignment
| Holder | DBL Beneficial Ownership | DSL Beneficial Ownership | DLY Beneficial Ownership | Notes |
|---|---|---|---|---|
| Jeffrey J. Sherman (Vice President) | Not disclosed | Not disclosed | Not disclosed | As of Dec 31, 2024, Trustees, nominees, and officers as a group beneficially owned less than 1% of each Fund’s outstanding shares. |
| Group (All Trustees & Exec Officers) | <1% of outstanding | <1% of outstanding | <1% of outstanding | Aggregate ownership shows limited direct Fund share alignment at the issuer level. |
- Pledging/hedging: Not disclosed for Mr. Sherman in the proxy.
- Section 16(a) compliance: Proxy notes compliance for FY2024; the only exception cited is a late Form 3 for a Trustee (Mr. Ciprari), not Mr. Sherman.
Employment Terms
- Employment agreement, severance, change-of-control provisions, non-compete, and clawback terms for Mr. Sherman are not disclosed in the DBL proxy (officers are employed by the adviser, DoubleLine).
Investment Implications
- Alignment at the issuer (DBL) level is limited: Fund officers receive no Fund-paid compensation and aggregate insider share ownership is below 1%, reducing direct pay/performance linkage for Mr. Sherman at the Fund entity. However, his influence is primarily through the adviser (DoubleLine), where compensation is not disclosed in this filing.
- Retention/key-man considerations: As Deputy CIO of DoubleLine and lead PM for multi-sector and derivative-based strategies, Mr. Sherman is a key part of the adviser’s investment process. Continuity of DoubleLine personnel (including Mr. Sherman) is a material driver of strategy execution for DBL, although adviser-level employment terms are not provided here.
- Trading/insider-sell pressure signals: No individual DBL holdings are disclosed for Mr. Sherman and no Section 16(a) exceptions were noted for him, limiting visibility into potential selling pressure from his activity.
- Governance: Mr. Sherman is an officer (Vice President) rather than a Trustee; Fund board independence and committee structure are disclosed separately and not tied to his compensation or ownership.