Anthony Grillo
About Anthony Grillo
Anthony Grillo (birth year: 1955) is a non-interested, independent Class I director of ClearBridge Energy Midstream Opportunity Fund Inc. (EMO), effective November 15, 2024, with a term running to the 2027 Annual Meeting. He serves on the Audit, Nominating, Compensation, and Pricing & Valuation Committees. Grillo is a retired private equity and credit investor, previously Founder/Managing Director/Partner of American Securities Opportunity Funds (2006–2018) and a former senior executive at Evercore, JLL Partners, and Blackstone. He oversees 17 portfolios across the Franklin Templeton fund complex, indicating broad governance exposure.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| American Securities Opportunity Funds | Founder, Managing Director & Partner | 2006–2018 | Private equity and credit investing; capital allocation and governance experience |
| Evercore Partners Inc. | Senior Managing Director | 2001–2004 | Investment banking leadership and advisory experience |
| Joseph Littlejohn & Levy (JLL Partners) | Senior Managing Director | 1999–2001 | PE deal execution and portfolio oversight |
| The Blackstone Group L.P. | Senior Managing Director | 1991–1999 | Private equity and credit investing; board and transactional experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Littelfuse, Inc. | Director | Since 1991 | Long-tenured public company directorship (electronics manufacturing) |
| Oaktree Acquisition Corp. | Director | 2019–2021 | SPAC board experience |
| Oaktree Acquisition Corp. II | Director | 2020–2022 | SPAC board experience |
Board Governance
- Independence: Grillo is listed as a non-interested director and serves solely on committees composed of Independent Directors under NYSE standards. The Board has eight directors, seven of whom are Independent; the Chair is Independent (Eileen A. Kamerick).
- Committee assignments: Member, Audit (Chair: Nisha Kumar, audit committee financial expert); Member, Nominating (Chair: Hillary Sale); Member, Compensation (Chair: Peter Mason); Member, Pricing & Valuation (Chair: Carol L. Colman). Grillo is not a committee chair.
- Attendance and engagement: FY 2024 featured 4 regular and 6 special Board meetings; each Director attended at least 75% of Board/committee meetings for which eligible. Audit met 5x, Nominating 7x, Pricing & Valuation 4x, Compensation 1x in FY 2024. Grillo is listed as a signatory to the Audit Committee’s report dated January 21, 2025, evidencing active participation.
- Term and designation: Class I director serving until the 2027 Annual Meeting; effective appointment November 15, 2024.
Fixed Compensation
| Metric | Calendar 2023 | FY 2024 (ended 11/30/24) | Calendar 2024 |
|---|---|---|---|
| Aggregate Compensation from EMO ($) | N/A | 3,303 | N/A |
| Total Compensation from Fund Complex ($) | 0 | N/A | 32,989 |
Notes: The Fund provides no pension or retirement benefits to Directors; the interested Director (Ms. Trust) receives no remuneration from the Fund.
Performance Compensation
- The proxy discloses aggregate director compensation but does not detail any equity grants, options, or performance-linked metrics for directors; no performance metric framework is provided for director pay.
Other Directorships & Interlocks
| Company | Relationship to EMO | Potential Interlock/Conflict |
|---|---|---|
| Littelfuse, Inc. | Unrelated electronics manufacturer | No direct conflict evident with EMO’s adviser/subadviser; no interests in adviser/affiliates disclosed for independent directors |
| Oaktree Acquisition Corp. / II | Prior SPAC directorships | No ongoing transactions disclosed with EMO; no adviser/affiliate interests for independent directors as of Dec 31, 2024 |
Expertise & Qualifications
- Private equity and credit investing background; senior leadership roles in investment banking and PE (Blackstone, JLL Partners, Evercore, American Securities Opportunity Funds).
- Board attributes disclosed: experience as a managing director in PE/credit and investment banking; the proxy lists director attributes per SEC requirements without implying special expertise.
Equity Ownership
| As of | EMO Dollar Range | Aggregate Dollar Range in Family of Investment Companies |
|---|---|---|
| December 31, 2024 | A (None) | A (None) |
Group beneficial ownership (Directors and officers as a whole) was <1% of outstanding Common and Preferred shares as of February 7, 2025.
Insider Trades
| Period | Form 4 Activity | Notes |
|---|---|---|
| FY 2024–FY 2025 | Not referenced in proxy | Section 16(a) compliance: all required ownership filings were met for FY 2024 per the Fund’s review. |
Governance Assessment
- Alignment: Grillo held no EMO shares as of December 31, 2024 (Dollar Range “A”), which may limit direct economic alignment vs. shareholder ownership norms; EMO does not disclose director ownership guidelines.
- Independence and conflicts: Grillo is a non-interested director with no disclosed interests in the adviser or affiliates; all independent directors (including Grillo) form all key committees, mitigating conflict risk.
- Engagement: Committee workloads were material in FY 2024 (Audit 5x; Nominating 7x; Pricing & Valuation 4x), and Grillo is listed on the Audit Committee’s 2025 report, supporting engagement/attendance standards.
- Board effectiveness: Independent Board Chair; executive sessions led by the Chair; independent legal counsel supports the Independent Directors—structures aligned with governance best practices.
- Time commitments: Oversight of 17 portfolios in the fund complex plus an external public company board (Littelfuse) suggests meaningful governance workload; monitor for overboarding risk relative to meeting cadence and committee responsibilities.
- RED FLAGS: No EMO share ownership (alignment risk); otherwise, no related-party transactions or adviser-affiliate interests disclosed; no legal/SEC proceedings disclosed in proxy materials.