Nisha Kumar
About Nisha Kumar
Nisha Kumar (birth year: 1970) is a Non-Interested Director of ClearBridge Energy Midstream Opportunity Fund Inc. (EMO), serving since 2019; she chairs the Audit Committee and sits on the Nominating, Compensation, and Pricing & Valuation Committees . She has deep finance and accounting credentials from prior CFO roles (AOL LLC; Rent the Runway) and as Managing Director, CFO & CCO of private equity firm Greenbriar Equity Group; she is also designated by EMO’s Board as an “audit committee financial expert,” underscoring technical oversight capability . Kumar oversees 17 portfolios within the Franklin Templeton fund complex and is a Member of the Council on Foreign Relations, indicating broad governance network exposure .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Greenbriar Equity Group, LP | Managing Director; Chief Financial Officer; Chief Compliance Officer | 2011–2021 | Senior leadership in private equity finance and compliance |
| Rent the Runway, Inc. | Chief Financial Officer; Chief Administrative Officer | 2011 | Operational finance leadership in consumer/retail tech |
| AOL LLC (Time Warner Inc. subsidiary) | Executive Vice President; Chief Financial Officer | 2007–2009 | Public-company scale CFO role in TMT |
External Roles
| Organization | Role | Since/Through | Notes |
|---|---|---|---|
| Stonepeak-Plus Infrastructure Fund LP | Director | Since 2025 | Infrastructure fund governance exposure |
| Birkenstock Holding plc | Director | Since 2023 | Global consumer brand board role |
| The India Fund, Inc. | Director | Since 2016 | Closed-end fund directorship |
| Aberdeen Income Credit Strategies Fund | Director | 2017–2018 | Prior closed-end fund role |
| The Asia Tigers Fund, Inc. | Director | 2016–2018 | Prior closed-end fund role |
| Council on Foreign Relations | Member | n/a | Policy and global network affiliation |
Board Governance
- Independence and status: Kumar is a Non-Interested, Independent Director under NYSE standards; all standing committees (Audit, Nominating, Compensation, Pricing & Valuation) are composed entirely of Independent Directors .
- Committee leadership: Audit Committee Chair; Board determined she is an “audit committee financial expert” .
- Board leadership context: The Board comprises eight directors (seven independent); Eileen A. Kamerick serves as Chair, leading executive sessions and acting as liaison between independent directors and management .
- Engagement and attendance: In FY 2024, the Board held four regular and six special meetings; each director attended at least 75% of aggregate meetings for which he or she was eligible . No director attended the 2024 Annual Meeting of Stockholders (engagement optics to monitor) .
Committee meeting cadence (FY 2024):
| Committee | Meetings Held |
|---|---|
| Audit | 5 |
| Nominating | 7 |
| Pricing & Valuation | 4 |
| Compensation | 1 |
Fixed Compensation
| Compensation Type | FY 2023 | FY 2024 |
|---|---|---|
| Aggregate compensation from EMO (fiscal year) | $56,781 | $75,862 |
| Compensation Type | CY 2023 | CY 2024 |
|---|---|---|
| Total compensation from Fund Complex (calendar year) | $435,000 | $486,000 |
- The Fund does not provide any pension or retirement benefits to Directors .
- Compensation covers service across EMO’s committees and for other FTFA-advised investment companies within the fund complex .
Performance Compensation
| Performance-Linked Element | Disclosure |
|---|---|
| Stock awards (RSUs/PSUs), options, performance metrics (TSR/EBITDA/ESG), vesting schedules, clawbacks, severance/change-of-control terms | Not disclosed for Directors in the DEF 14A; compensation presented only as aggregate cash amounts and fund-complex totals . |
Other Directorships & Interlocks
| Company | Role | Committee Roles (if disclosed) | Potential Interlocks/Notes |
|---|---|---|---|
| Birkenstock Holding plc | Director | Not disclosed | Consumer sector board may broaden perspective; no EMO-related party transactions disclosed |
| Stonepeak-Plus Infrastructure Fund LP | Director | Not disclosed | Infrastructure investing exposure; monitor for any transaction overlap; none disclosed in EMO proxy |
| The India Fund, Inc. | Director | Not disclosed | Another FTFA/Franklin Templeton–related fund; proxy states no interests in adviser or affiliates for non-interested directors |
- EMO bylaws include director qualification requirements: experience, limits on service on other boards, and character/fitness; Nominating Committee determines compliance, which mitigates overboarding risk .
Expertise & Qualifications
- Financial expert: Designated “audit committee financial expert” by EMO’s Board .
- CFO track record: Senior finance leadership at AOL LLC, Rent the Runway, and Greenbriar Equity Group (CFO/CCO), providing robust accounting, controls, and compliance experience .
- Fund governance breadth: Oversees 17 portfolios in the Franklin Templeton fund complex, suggesting familiarity with closed-end fund governance and valuation oversight .
- Professional affiliations: Member of the Council on Foreign Relations .
Equity Ownership
| As of Date | Dollar Range of EMO Shares Beneficially Owned | Aggregate Dollar Range in Family of Investment Companies |
|---|---|---|
| 12/31/2023 | “A” = None | “A” = None |
| 12/31/2024 | “A” = None | “E” = Over $100,000 |
- As of February 7, 2025, nominees, directors, and officers as a group owned less than 1% of EMO’s outstanding Common and Preferred shares .
- No Section 16(a) beneficial ownership reporting delinquencies noted for FY 2024; EMO believes all required filings were met .
- No shares pledged or hedging activity disclosed in the proxy; no related-party transactions involving Kumar disclosed .
Governance Assessment
- Strengths: Independent status; Audit Committee Chair with “financial expert” designation; active committee cadence (Audit 5x; Nominating 7x; Valuation 4x; Compensation 1x), indicating engaged oversight . Broad CFO and compliance background aligns with EMO’s needs in financial reporting and valuation oversight .
- Alignment considerations: EMO share ownership reported as “None” at both 12/31/2023 and 12/31/2024; while common in fund complexes, low direct ownership can be viewed as a modest alignment gap with EMO shareholders . Aggregate holdings across the fund family increased to “E” (> $100k) by 12/31/2024, indicating broader complex exposure rather than EMO-specific alignment .
- Conflicts and red flags:
- No interest in EMO’s adviser (FTFA), ClearBridge, or affiliates for non-interested directors; no related-party transactions disclosed, reducing conflict risk .
- Attendance optics: No director attended the 2024 Annual Meeting of Stockholders; though not required, some investors view annual-meeting presence as an engagement signal (monitor trend) .
- Overboarding risk: Oversees 17 portfolios and holds multiple external directorships; mitigated by EMO’s bylaws on limits of other board service and Nominating Committee screening .
- Audit quality oversight: As Chair, Kumar led the Audit Committee to recommend inclusion of audited financial statements for FY 2024; PwC independence and fee approvals documented, with audit and tax fee details disclosed, supporting robust oversight .