Paul E. Tramontano
About Paul E. Tramontano
Independent Class II Trustee of Eagle Point Institutional Income Fund (EIIA); age 63; trustee since inception in 2022 with current term expiring at the 2026 annual meeting . Executive Managing Director at Cresset Asset Management since April 2023; previously Senior Managing Director and Wealth Manager at First Republic Investment Management (2015–2023); founder and Co‑CEO at Constellation Wealth Advisors; 17 years at Citi Smith Barney; B.S. from Villanova University; attended the Certified Investment Management program at Wharton .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| First Republic Investment Management | Senior Managing Director and Wealth Manager | Oct 2015 – Apr 2023 | Senior wealth management leadership |
| Constellation Wealth Advisors LLC | Founder and Co‑Chief Executive Officer; led East Coast operations | ~8 years (prior to 2015) | Served on investment and executive management committees |
| Citi Smith Barney | Managing Director and Senior Advisor, Citi Family Office | 17 years (prior to Constellation) | Senior advisory in family office; financial services expertise |
External Roles
| Organization | Role | Tenure | Committees |
|---|---|---|---|
| Eagle Point Credit Company Inc. | Independent Director | Since inception of EIIA board service | Audit Committee member; Nominating Committee member |
| Eagle Point Income Company Inc. | Independent Director | Since inception of EIIA board service | Audit Committee member; Nominating Committee member |
| Eagle Point Enhanced Income Trust | Independent Trustee | Since inception of EIIA board service | Audit Committee member; Nominating Committee member |
| Eagle Point Defensive Income Trust | Independent Trustee | Since inception of EIIA board service | Audit Committee member; Nominating Committee member |
Board Governance
- Board classification: Class II Trustee; term expires in 2026 .
- Independence: One of four Independent Trustees; meets NYSE independence requirements for closed-end funds .
- Committee assignments at EIIA: Audit Committee member; Nominating Committee member .
- Committee chairs: Audit Committee chaired by Jeffrey L. Weiss; Nominating Committee chaired by Scott W. Appleby .
- Leadership: Board Chair is Thomas P. Majewski; Lead Independent Trustee is Jeffrey L. Weiss .
- Attendance: In FY2024, Board met 5 times; Audit 5; Nominating 3; each Trustee attended at least 75% of applicable meetings; Independent Trustees meet outside management .
| Governance Metric | Value |
|---|---|
| Trustee class/term | Class II; term expires 2026 |
| Independence status | Independent Trustee |
| EIIA Audit Committee | Member; Chair is Weiss |
| EIIA Nominating Committee | Member; Chair is Appleby |
| FY2024 Board meetings | 5 (≥75% attendance by each Trustee) |
| FY2024 Audit meetings | 5 (≥75% attendance by each Trustee) |
| FY2024 Nominating meetings | 3 (≥75% attendance by each Trustee) |
Fixed Compensation
EIIA pays Independent Trustees cash retainers and chair fees by Fund NAV tier; reimburses reasonable out‑of‑pocket expenses; no pension or retirement benefits .
| Fund NAV + Preferred Capital | Annual Cash Retainer | Audit Chair Fee | Nominating Chair Fee |
|---|---|---|---|
| $0–$200 million | $25,000 | $5,000 | $1,500 |
| >$200 million | $40,000 | $7,500 | $2,500 |
Paul E. Tramontano’s reported compensation:
| Year | Aggregate Compensation from EIIA (Cash) | Aggregate Compensation from Fund Complex (Cash) |
|---|---|---|
| FY2023 | $27,083 | $182,083 (includes ECC, EIC, EPEIT, EPDIT) |
| FY2024 | $25,000 | $180,000 (includes ECC, EIC, EPEIT, EPDIT) |
Notes: FY2024 figures include payments of prior-year amounts settled in 2024; footnotes specify cross‑fund compensation components and payment timing .
Performance Compensation
No equity or option grants, PSUs/RSUs, bonuses, or performance-linked director compensation disclosed; Independent Trustees receive cash retainers and chair fees only .
| Component | Detail |
|---|---|
| Equity grants (RSUs/PSUs) | None disclosed |
| Option awards | None disclosed |
| Performance metrics tied to pay | None disclosed |
| Pension/SERP | Trustees do not receive pension/retirement benefits |
Other Directorships & Interlocks
| Company | Nature | Potential Interlock |
|---|---|---|
| ECC, EIC, EPEIT, EPDIT | Same sponsor (Eagle Point); Paul serves as independent director/trustee and Audit/Nominating member at each | Many EIIA trustees concurrently serve across Eagle Point fund complex (information flow beneficial but raises group‑think risk) |
Expertise & Qualifications
- Senior multi-decade wealth management and advisory background at First Republic, Constellation Wealth Advisors, and Citi Smith Barney; executive leadership and committee experience .
- Education: B.S., Villanova; completed Certified Investment Management program at Wharton .
- Fund complex governance experience across four related public vehicles; Audit/Nominating committee service at each .
Equity Ownership
| Security | Beneficial Ownership |
|---|---|
| EIIA Common Shares | None |
| EIIA Preferred Shares | None |
| Aggregate Dollar Range of equity in Fund Complex | Over $100,000 |
| Initial Section 16 filing (Form 3) | Filed 04/13/2022; “No securities are beneficially owned.” |
Insider Trades
| Filing | Date | Summary |
|---|---|---|
| Form 3 (Initial Statement of Beneficial Ownership) | 04/13/2022 | Reported no beneficial ownership at inception |
Governance Assessment
-
Strengths
- Independent Trustee; no securities of Adviser owned by Independent Trustees or their immediate family members as of record date (reduces related‑party conflicts) .
- Active committee roles (Audit and Nominating) with independent chairs (Weiss and Appleby), and established written charters publicly available (transparency) .
- Board structure with majority Independent Trustees and regular executive sessions without management; FY2024 attendance compliance (≥75%) .
-
Watch items
- Cash‑only director compensation without performance linkage; no equity in EIIA itself may reduce direct pay‑for‑performance alignment for this Fund, though Paul holds “Over $100,000” across the broader fund complex .
- Interlocks across the Eagle Point fund complex could concentrate oversight perspectives; continued robust committee independence and charter adherence mitigate risks .
-
RED FLAGS
- None disclosed regarding related‑party transactions, pledging/hedging, legal proceedings, or attendance shortfalls specific to Paul E. Tramontano .