Peter Sattelmair
About Peter Sattelmair
Peter Sattelmair (born 1977) serves as Assistant Treasurer of Destra Multi-Alternative Fund (NYSE: DMA), appointed at a Board meeting on August 16, 2022 . He is Director of CFO Services at PINE Advisor Solutions (2021–present) and previously served as Director of Fund Administration and Operations at Transamerica Asset Management (2014–2021) . DMA’s proxy statements indicate the Fund pays no salaries to officers, and no officer-level incentive metrics or TSR/financial performance linkages are disclosed; Sattelmair filed a Form 3 reporting no beneficial ownership as of May 6, 2025 . Saba Capital beneficially owns 24.94% of DMA, a governance factor that can influence fund-level actions during Sattelmair’s tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Transamerica Asset Management | Director of Fund Administration & Operations | 2014–2021 | Led fund administration and operations functions |
| Destra Multi-Alternative Fund | Assistant Treasurer | 2022–present | Fund officer role supporting treasury and reporting processes |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PINE Advisor Solutions | Director of CFO Services | 2021–present | Provides CFO services to funds; finance and reporting support |
Fixed Compensation
- The Fund pays no salaries or compensation to officers; officer-level cash compensation (base salary, bonus) is not disclosed in DMA proxies .
Performance Compensation
- No disclosures of officer incentive plans, performance metrics, or vesting schedules for Fund officers; proxies do not provide pay-for-performance details for Sattelmair .
Equity Ownership & Alignment
| Metric | As of | Value | Notes |
|---|---|---|---|
| Shares beneficially owned | 05-06-2025 | 0 | Form 3 filed by Peter Sattelmair reports no beneficial ownership |
| Ownership as % of shares outstanding | 05-06-2025 | 0.00% | 8,963,239 shares outstanding (record date context); 0 reported by Form 3 |
| Options (exercisable/unexercisable) | 05-06-2025 | None reported | No derivative securities reported on Form 3 |
| Shares pledged as collateral | 05-06-2025 | None | No holdings reported; no pledging disclosed |
| Officers and Trustees group ownership | 11-13-2025 | <1% (group) | Officers and Trustees owned less than 1% as a group |
Employment Terms
| Term | Detail |
|---|---|
| Position and appointment | Assistant Treasurer; appointed at Board meeting on August 16, 2022 |
| Employment contract term | Not disclosed in proxies |
| Severance provisions | Not disclosed in proxies |
| Change-of-control economics | Not disclosed in proxies |
| Clawback policy | Recovery of erroneously awarded compensation marked “Not applicable” in semi-annual report context |
| Non-compete / non-solicit | Not disclosed in proxies |
Performance & Track Record
- DMA is a non-diversified closed-end fund; proxies describe Board committee oversight but do not disclose officer-level performance metrics tied to compensation .
- Governance dynamics are influenced by Saba Capital’s 24.94% ownership stake, which may drive fund-level actions (e.g., activism outcomes) rather than officer-specific incentives .
Investment Implications
- Pay-for-performance alignment: Fund officers are not paid by the Fund and no incentive design is disclosed, limiting ability to assess alignment for Sattelmair; zero reported beneficial ownership suggests minimal direct equity alignment at the fund level .
- Insider selling pressure: With no reported holdings on Form 3, near-term selling pressure tied to Sattelmair’s personal ownership is unlikely .
- Retention risk and contracts: No severance, CIC, or employment term disclosures for officers, leaving retention economics opaque; CFO services role at PINE suggests compensation resides externally rather than at DMA .
- Trading signals: Governance and activism (Saba 24.94%) are more salient for DMA’s equity than officer-level compensation levers; officer ownership and incentive data offer limited signal value for trading around corporate events .