Kevin F. McDonald
About Kevin F. McDonald
Kevin F. McDonald (age 58) is an Independent Class III Trustee of Eagle Point Institutional Income Fund (EIIA), serving since inception with his current term expiring at the 2027 annual meeting . He is Chief Operating Officer of AltaRock Partners, LLC (since January 2019) and previously held senior roles in asset management and financial services; he holds a B.A. from the University of Virginia . He serves on EIIA’s Audit and Nominating Committees; the Board has a majority of Independent Trustees, and independence is assessed under the 1940 Act, Rule 10A-3, and NYSE standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| AltaRock Partners, LLC | Chief Operating Officer | Jan 2019 – Present | Not disclosed |
| Folger Hill Asset Management, LP | Director of Business Development & Investor Relations | Dec 2014 – Jul 2018 | Not disclosed |
| Taylor Investment Advisors, LP | Co-founder; Principal | 2002 – Mar 2017 | Not disclosed |
| Taylor Investment Advisors, LP | Chief Executive Officer | 2006 – Dec 2014 | Not disclosed |
| Larch Lane Advisors LLC | Director | 1999 – 2001 | Not disclosed |
| JP Morgan Securities | Vice President, Futures & Options group | 1994 – 1999 | Not disclosed |
| BSI Bank (Generali S.p.A.) | Assistant Treasurer & Proprietary Fixed-Income Trader | 1991 – 1994 | Not disclosed |
| Chemical Bank | Credit Analyst, Corporate Finance | Began career in 1989 | Not disclosed |
External Roles
| Organization | Role | Tenure | Committees/Positions |
|---|---|---|---|
| Eagle Point Credit Company Inc. | Independent Director | Current | Audit Committee member; Nominating Committee member |
| Eagle Point Income Company Inc. | Independent Director | Current | Audit Committee member; Nominating Committee member |
| Eagle Point Enhanced Income Trust | Independent Trustee | Current | Audit Committee member; Nominating Committee member |
| Eagle Point Defensive Income Trust | Independent Trustee | Current | Audit Committee member; Nominating Committee member |
Other public company directorships outside the Eagle Point fund complex: none in the past five years (for any Trustee), per proxy disclosure .
Board Governance
- Committee memberships: Audit Committee (member); Nominating Committee (member) .
- Committee chairs: Audit Committee chaired by Jeffrey L. Weiss; Nominating Committee chaired by Scott W. Appleby (McDonald is not a chair) .
- Independence: Classified as an Independent Trustee under the 1940 Act/NYSE standards .
- Lead Independent Trustee: Jeffrey L. Weiss .
- Attendance and engagement: In FY2024 the Board met 5 times; Audit Committee met 5 times; Nominating Committee met 3 times; each Trustee attended at least 75% of the aggregate number of meetings of the Board and committees on which they served .
- Executive sessions: Independent Trustees regularly meet outside the presence of management .
Fixed Compensation
| Compensation Element (FY ended Dec 31, 2024) | EIIA Amount (USD) | Fund Complex Amount (USD) | Notes |
|---|---|---|---|
| Aggregate compensation (Independent Trustee) | $25,000 | $180,000 | Annual cash retainer; committee chair fees apply only to chairs; amounts include payments relating to prior year per footnotes . |
| Pension/retirement benefits | None | — | Trustees do not receive pension/retirement benefits . |
| Compensation-setting | — | — | Nominating Committee (Independent Trustees) recommends compensation; no separate compensation committee . |
Performance Compensation
| Element | Disclosure | Detail |
|---|---|---|
| Stock awards (RSUs/PSUs) | Not disclosed in proxy | Compensation discussion references cash retainers and chair fees; no equity grants are listed . |
| Option awards | Not disclosed in proxy | No option awards are listed in the Trustee compensation table . |
| Bonus/Performance metrics | Not applicable for Independent Trustees | Director pay structure described as cash-based; no performance metrics tied to director compensation are disclosed . |
| Clawbacks/COC provisions | Not disclosed for directors | Director-specific clawbacks or change-of-control terms are not discussed in proxy . |
Other Directorships & Interlocks
| Area | Detail |
|---|---|
| Cross-board service | McDonald serves on boards of Eagle Point Credit Company Inc., Eagle Point Income Company Inc., Eagle Point Enhanced Income Trust, and Eagle Point Defensive Income Trust (fund complex interlock) . |
| Outside public boards | None outside Eagle Point fund complex for any Trustee in the last five years (per proxy) . |
| Interested Trustees on Board | Thomas P. Majewski (Adviser founder/CEO) and James R. Matthews (Stone Point) are “interested persons”; McDonald is Independent . |
| Adviser/Administrator relationships | Adviser and Administrator are affiliated with Eagle Point; fees to Adviser ($3.6m) and Administrator ($0.5m) in FY2024 disclosed for context of related-party environment . |
Expertise & Qualifications
- Asset management operations leadership (COO, AltaRock Partners) and prior senior roles in investment advisory and trading across JP Morgan, BSI Bank, and Chemical Bank .
- Member of Audit Committee; the Audit Committee comprises Independent Trustees, all financially literate, with at least one member having accounting/financial management expertise; it also serves as the Fund’s qualified legal compliance committee .
- Broad fund governance experience across four Eagle Point vehicles (Audit and Nominating Committees) .
Equity Ownership
| Category | Holding/Range | Notes |
|---|---|---|
| EIIA Common Shares beneficially owned | None (— —) | As of record date (Mar 31, 2025), no common or preferred shares disclosed for McDonald . |
| EIIA Preferred Shares beneficially owned | None (— —) | — |
| Dollar range of equity in EIIA | None | Dollar-range classification for Fund ownership is “None” . |
| Aggregate dollar range in fund complex | Over $100,000 | Includes Eagle Point Credit Company Inc., Eagle Point Income Company Inc., Eagle Point Enhanced Income Trust, and Eagle Point Defensive Income Trust . |
| Adviser/affiliate securities (Independent Trustees) | None | Independent Trustees and immediate family members did not own securities of the Adviser or its affiliates, to the Fund’s knowledge . |
Governance Assessment
- Independence and committee breadth: McDonald is an Independent Trustee serving on both the Audit and Nominating Committees, supporting board oversight of financial reporting, compliance, and trustee nominations/compensation .
- Attendance and engagement: FY2024 attendance met thresholds (≥75%) across Board and committees; Independent Trustees regularly meet in executive session, indicating ongoing engagement .
- Compensation and alignment: Director pay is cash-based; McDonald received $25,000 from EIIA and $180,000 from the fund complex in FY2024; no pension benefits; compensation recommendations are made by the Independent Nominating Committee .
- Ownership signal: No direct EIIA share ownership disclosed; aggregate fund complex ownership reported as “Over $100,000” in dollar range terms .
- Conflicts: Proxy states Independent Trustees and their immediate family members did not own securities of the Adviser or its affiliates; two “interested” Trustees (Majewski, Matthews) sit on the Board, but McDonald remains Independent; related-party fees to Adviser/Administrator are disclosed and overseen by the Audit Committee .
Potential RED FLAGS (facts):
- No disclosed direct ownership of EIIA common or preferred shares for McDonald, which may limit fund-specific economic alignment .
- Multiple concurrent board seats within the same fund complex (interlock within complex) .