Patrick A. Townzen
About Patrick A. Townzen
Patrick A. Townzen (born 1978) serves as Vice President of DoubleLine Opportunistic Credit Fund (DBL), DoubleLine Income Solutions Fund (DSL), DoubleLine Yield Opportunities Fund (DLY), and DoubleLine Funds Trust, roles he has held since September 2012; he was promoted to Chief Operating Officer of DoubleLine Group LP in March 2023 after serving as Director of Operations (2018–2023) and Manager of Operations (2012–2018) . The DBL proxy does not disclose his education or individual fund performance metrics; officers employed by DoubleLine do not receive compensation from the Funds, and investment performance is overseen by the Board and the Adviser .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DoubleLine Group LP | Chief Operating Officer | Mar 2023 – Present | Operational leadership across DoubleLine, continuity of fund administration |
| DoubleLine Group LP | Director of Operations | Mar 2018 – Mar 2023 | Led operational processes supporting fund complex and adviser |
| DoubleLine Group LP | Manager of Operations | Sep 2012 – Mar 2018 | Built and scaled operations since fund inception period |
| DBL / DSL / DLY / DoubleLine Funds Trust | Vice President | Since Sep 2012 (DBL/DSL/DFT), Since Nov 2019 (DLY) | Fund officer responsibilities for closed-end funds and trust |
External Roles
No external board seats or outside directorships are disclosed in DBL’s 2025 proxy for Patrick A. Townzen .
Fixed Compensation
- Officers employed by DoubleLine or its affiliates “do not receive any compensation or expense reimbursement from the Funds”; the proxy provides trustee compensation only. As a fund officer, Townzen’s cash compensation from the Funds is not applicable or disclosed .
Performance Compensation
- The proxy does not disclose any bonus plans, RSU/PSU awards, options, performance metrics, vesting schedules, clawbacks, severance, change-of-control terms, or tax gross-ups for fund officers; compensation programs for adviser personnel are outside the Fund’s disclosures .
Equity Ownership & Alignment
- The proxy’s individual beneficial ownership table lists certain trustees and officers but does not enumerate Townzen’s individual holdings. It notes that all trustees and executive officers as a group beneficially owned “Over $100,000” in each of DBL/DSL/DLY as of December 31, 2024; no pledging, hedging, guidelines, or compliance status are disclosed for Townzen specifically .
- Section 16(a) compliance: the Funds state required filings were compliant in FY2024 except a late Form 3 for another trustee; no delinquent filing is noted for Townzen in the proxy .
Employment Terms
| Item | Disclosure |
|---|---|
| Fund Officer Titles | Vice President of DBL, DSL, DLY, DoubleLine Funds Trust |
| Term Length | Indefinite; serving since September 2012 (DBL/DSL/DFT), since November 2019 (DLY) |
| Adviser Role | Chief Operating Officer, DoubleLine Group LP (since March 2023) |
| Contract / Severance / CoC | Not disclosed in Fund proxy (officer compensation and employment terms at adviser not covered) |
| Non-compete / Non-solicit / Garden Leave | Not disclosed |
Investment Implications
- Alignment: As a fund officer paid by the Adviser, Townzen’s compensation is not tied to DBL-specific shareholder returns; no equity award or ownership guidelines are disclosed, limiting pay-for-performance visibility and direct alignment signals for DBL shareholders .
- Retention and continuity: A 13-year tenure across operations culminating in COO of DoubleLine Group LP indicates institutional knowledge and operational continuity; departure risk would be operational rather than investment-strategy driven, given DBL’s board/adviser structure .
- Trading signals: No Form 4 trading by Townzen is disclosed in the proxy, and the fund officers do not receive fund-paid compensation; absent insider activity or performance-linked awards, there are no observable near-term selling pressure or vesting-related signals from fund filings .