Anthony Grillo
About Anthony Grillo
Anthony Grillo (born 1955) is an Independent Director of Western Asset Investment Grade Opportunity Trust Inc. (NYSE: IGI). He joined the Board effective November 15, 2024 and is a Class I nominee for election through the 2028 Annual Meeting. Grillo brings deep private equity and investment banking experience, including leadership roles at American Securities Opportunity Funds, Evercore Partners, Joseph Littlejohn & Levy, and The Blackstone Group. He serves on the Nominating, Audit, Compensation, and Pricing & Valuation Committees, indicating strong governance engagement .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| American Securities Opportunity Funds | Founder, Managing Director & Partner | 2006–2018 | Private equity/credit leadership |
| Evercore Partners Inc. | Senior Managing Director | 2001–2004 | Investment banking leadership |
| Joseph Littlejohn & Levy, Inc. | Senior Managing Director | 1999–2001 | Private equity leadership |
| The Blackstone Group L.P. | Senior Managing Director | 1991–1999 | Private equity/credit leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Littelfuse, Inc. | Director | Since 1991 | Electronics manufacturing board experience |
| Oaktree Acquisition Corp. | Director | 2019–2021 | SPAC directorship (prior) |
| Oaktree Acquisition Corp. II | Director | 2020–2022 | SPAC directorship (prior) |
Board Governance
- Independence status: Grillo is a non‑interested (Independent) Director; all standing committees (Audit, Nominating, Compensation, Pricing & Valuation) are composed entirely of Independent Directors under NYSE rules .
- Committee memberships: Nominating, Audit, Compensation, Pricing & Valuation (member). Chairs: Audit—Nisha Kumar; Nominating—Hillary A. Sale; Pricing & Valuation—Carol L. Colman; Compensation—Peter Mason .
- Board leadership: Board has eight directors, seven Independent; Chair is Eileen A. Kamerick (Independent). Independent Directors meet in executive session and are advised by independent legal counsel .
- Tenure: Effective November 15, 2024; nominated as Class I director for term ending at the 2028 Annual Meeting .
- Attendance: FY ended Nov 30, 2024—Board held four regular meetings; each Director attended at least 75% of Board and applicable committee meetings. No Director attended the 2024 Annual Meeting (policy does not require attendance) .
| Committee | Meetings (FY 2024) |
|---|---|
| Audit | 5 |
| Nominating | 7 |
| Pricing & Valuation | 4 |
| Compensation | 1 |
Fixed Compensation
| Metric | FY 2024 (Fund) | CY 2024 (Fund + Fund Complex) |
|---|---|---|
| Aggregate Compensation ($) | 417 | 32,989 |
| Number of Fund Complex Directorships | 17 | 17 |
| Pension/Retirement Benefits | None provided by the Fund | None provided by the Fund |
The Compensation Committee (all Independent Directors; Chair Peter Mason) recommends Independent Director compensation and operates under a written charter available on the Fund’s website .
Performance Compensation
| Element | Disclosure |
|---|---|
| Bonus (cash) | Not disclosed for Directors; proxy provides cash retainer amounts only |
| Stock awards (RSUs/PSUs) | Not disclosed for Directors |
| Option awards | Not disclosed for Directors |
| Performance metrics (TSR, EBITDA, ESG) | Not disclosed for Directors |
| Vesting schedules | Not disclosed for Directors |
| Clawback provisions | Not disclosed for Directors |
| Change‑of‑control provisions | Not disclosed for Directors |
Other Directorships & Interlocks
| Company | Sector | Role | Potential Interlock/Conflict Consideration |
|---|---|---|---|
| Littelfuse, Inc. | Electronics manufacturing | Director (since 1991) | No direct overlap with IGI’s fixed‑income fund mandate; monitor for supplier/customer relationships with Franklin Templeton affiliates (none disclosed) |
| Oaktree Acquisition Corp. | SPAC | Prior Director (2019–2021) | Prior role; no ongoing interlock with IGI |
| Oaktree Acquisition Corp. II | SPAC | Prior Director (2020–2022) | Prior role; no ongoing interlock with IGI |
Expertise & Qualifications
- Private equity and credit investing leadership; investment banking expertise (Blackstone, Evercore, JLL, American Securities Opportunity Funds) .
- Active participation across key IGI committees (Audit; Nominating; Compensation; Pricing & Valuation), indicating broad governance oversight capability .
- Board‑level attributes noted by IGI: experience as managing director in PE/credit and investment banking .
Equity Ownership
| Holder | Fund Dollar Range | Aggregate Dollar Range Across Fund Family |
|---|---|---|
| Anthony Grillo | A = None | A = None |
- Directors and officers as a group owned less than 1% of outstanding Common Stock as of the record date .
- Section 16(a) compliance: IGI reports all filing requirements were met for FY ended Nov 30, 2024 .
Governance Assessment
- Positives:
- Independent director with extensive PE/credit and banking background; sits on all major governance committees, enhancing oversight of audit, valuation, nominations, and compensation .
- Strong committee infrastructure with independent chairs; regular executive sessions and independent counsel support investor confidence .
- Attendance threshold met; committee activity (Audit 5x; Nominating 7x; Pricing & Valuation 4x; Compensation 1x) demonstrates engaged board processes .
- No disclosed interests in the adviser or affiliates—reduces related‑party risk .
- Watch items / potential red flags:
- Alignment: Grillo reported “None” in fund and aggregate fund family holdings, which can be viewed as limited “skin in the game” for a closed‑end fund director; monitor for future purchases or adoption of ownership guidelines (not disclosed) .
- Time commitments: 17 fund complex directorships may constrain time; however, attendance was at least 75% and committees functioned actively in FY 2024 .
- New tenure (effective Nov 15, 2024): continue monitoring board and committee attendance/engagement and any changes in committee roles as the director’s tenure matures .
- Overall: The governance framework (independent majority, robust committee structure, executive sessions, independent counsel) supports board effectiveness. The primary investor‑alignment consideration is low personal ownership; no related‑party transactions or conflicts are disclosed .