Nina Baryski
About Nina Baryski
Nina K. Baryski is Chief Financial Officer and Treasurer of Franklin BSP Capital Corporation (FRBP) and a Managing Director/Funds CFO at Benefit Street Partners (BSP). She has served as FRBP’s CFO/Treasurer since March 2020 and previously served as CFO/Treasurer of Franklin BSP Lending Corporation (FBLC) from May 2019 to January 2024; she earned a B.S. in Finance and Accounting from NYU Stern and is a CPA (born 1984) . As CFO, she certified FRBP’s FY2024 Form 10‑K and executed 2025 financing documents, including the 6.000% Notes due 2030, while the investment portfolio expanded to $3.97B at fair value as of 12/31/24 (from $0.76B in 2023); FRBP has no public listing, so TSR is not applicable .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Franklin BSP Capital Corporation (FRBP) | Chief Financial Officer & Treasurer | Mar 2020 – Present | Principal financial and accounting officer; signed 10‑K and led capital markets execution . |
| Franklin BSP Lending Corporation (FBLC) | Chief Financial Officer & Treasurer | May 2019 – Jan 2024 | Helped enable FRBP–FBLC merger integration completed Jan 24, 2024 . |
| Benefit Street Partners (BSP) | Managing Director; Funds CFO (Boston) | Nov 2012 – Present | Oversight of financial accounting/reporting across BSP’s private debt platform . |
| Audax Group | Finance Manager (Investment Management) | Sep 2008 – Nov 2012 | Financial reporting and fund operations for private equity credit platform . |
| PricewaterhouseCoopers | Associate, Investment Management practice | Sep 2006 – Sep 2008 | Assurance/financial reporting for investment management clients . |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| None disclosed in FRBP filings | — | — | No public company directorships or external board roles disclosed in officer biography . |
Fixed Compensation
FRBP is externally managed; executive officers (including Ms. Baryski) are employees of BSP and receive no compensation directly from FRBP. As of 12/31/24, FRBP had no executive compensation policy or program and therefore provided no CD&A or say‑on‑pay .
| Component | FY 2023 | FY 2024 | Notes |
|---|---|---|---|
| Base salary (from FRBP) | N/A | N/A | Executives are paid by BSP; no FRBP-paid salary . |
| Target bonus % (from FRBP) | N/A | N/A | No company program for exec bonuses . |
| Actual bonus (from FRBP) | N/A | N/A | No company payments to executives . |
| Perquisites (from FRBP) | N/A | N/A | Not applicable; no FRBP executive pay program . |
Performance Compensation
FRBP does not grant company-level equity or incentive awards to executive officers; no company performance metrics or vesting schedules apply to Ms. Baryski. Compensation is at the adviser (BSP) level and is not disclosed by FRBP .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not applicable at FRBP (execs compensated by BSP) | — | — | — | — | — |
Note: FRBP’s Compensation Committee oversees director pay and reviews advisory/administration agreements; it did not meet in FY2024, consistent with no FRBP-paid executive program .
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Common shares beneficially owned by Nina K. Baryski | — (no shares listed) as of 4/7/2025 record date |
| Ownership % of common | — (not shown; 136,195,754 common shares outstanding on record date) |
| Preferred shares owned | — (none listed) |
| Stock ownership guidelines (execs) | Not disclosed for executive officers . |
| Shares pledged/hedged | Not disclosed; no pledging disclosed for Ms. Baryski . |
| Vested vs unvested equity; options | No FRBP executive equity awards disclosed; executives are paid by BSP . |
| NAV per share (context) | $14.10 per common share as of 12/31/2024 |
Employment Terms
| Term | Disclosure |
|---|---|
| FRBP role start date | CFO & Treasurer since March 2020 . |
| Years in current role | ~5+ years through 2025 (service since March 2020) . |
| Employment agreement with FRBP | None disclosed; executives are BSP employees . |
| Severance; Change-of-control | None disclosed for Ms. Baryski at FRBP; not applicable given external management . |
| Clawback; tax gross-ups | No FRBP executive compensation program; not disclosed. FRBP has a Code of Ethics and an insider trading policy . |
| Non‑compete / non‑solicit | Not disclosed. |
| Advisory/Administration framework (context) | Investment Advisory Agreement and Administration Agreement govern services; either may be terminated on at least 60 days’ notice (advisory subject to annual approval) . |
Company Performance Context (during her tenure)
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Total investments at fair value ($USD Millions) | $756.145 | $3,966.075 |
- FRBP completed the merger with FBLC on January 24, 2024, with FRBP continuing as the surviving company, expanding portfolio scale and complexity .
- Ms. Baryski signed FRBP’s FY2024 10‑K certifications and executed the October 2025 6.000% Notes due 2030 offering documents (purchase price 97.844% across $300M aggregate principal), evidencing capital markets execution under her oversight .
Additional Governance and Compensation Structure (BDC context)
- FRBP executives (CEO, President, CFO, Secretary) are BSP employees and receive no compensation directly from FRBP; hence no CD&A, say‑on‑pay, or executive equity plans are included in the proxy .
- Adviser fees: Base management fee 1.50% of average gross assets (1.00% above 1.0x debt-to-equity) and incentive fees at 17.5% on income and capital gains under the amended agreement effective Jan 24, 2024 .
- Risk factor: Fee structure can incentivize leverage and risk-taking by the adviser, which investors should monitor when assessing alignment .
Investment Implications
- Pay-for-performance alignment: Because Ms. Baryski’s compensation is at BSP (not FRBP), there is limited direct company-level pay alignment (no FRBP salary/bonus/equity). Investor alignment relies on adviser oversight and fee discipline rather than executive equity stakes at FRBP .
- Retention risk: Tenured BSP finance leader (since 2012) and FRBP CFO since 2020; continuity is tied to BSP. FRBP can terminate the advisory arrangement on 60 days’ notice, but personal employment terms are not disclosed—organizational rather than individual retention levers predominate .
- Insider selling pressure: No reported FRBP share ownership for Ms. Baryski and no executive equity awards at FRBP imply minimal company-specific insider selling pressure or vesting-driven sales for her; continue to monitor any Form 4 filings for changes (none surfaced in reviewed company documents) .
- Execution track record: CFO oversight of the FBLC merger and 2025 notes issuance demonstrates capability in integrations and capital markets, positive for financing flexibility and cost of capital management .
- Governance lens: The Compensation Committee did not meet in 2024 and executives receive no FRBP pay; alignment hinges on board oversight of advisory economics and performance rather than traditional executive compensation levers .