Leslie E. Greis
About Leslie E. Greis
Independent Class III Trustee of CBRE Global Real Estate Income Fund (IGR); appointed January 1, 2019; year of birth 1958. Founder and Managing Member of Perennial Capital Advisors, LLC (since 2003), with a background in private real estate investing; the Board cites her real estate investment expertise and experience as rationale for her continued service .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Perennial Capital Advisors, LLC | Founder & Managing Member | 2003–Present | Board cites her as founder/CIO-level expert in private real estate investing |
External Roles
| Organization | Role | Since | Notes |
|---|---|---|---|
| AIM Mutual Insurance, Inc. | Director | 2016 | Company type not specified in proxy |
| Kinefac Corporation | Director | 2009 | Company type not specified in proxy |
Board Governance
- Independence: Listed as an Independent Trustee (not an “interested person” under the 1940 Act and Exchange Act Rule 10A-3) .
- Committee memberships: Audit Committee and Nominating Committee each comprise all Independent Trustees; Greis therefore serves on both .
- Committee chairs: Current (2025) Audit Chair = Peter Finnerty (also Audit Committee Financial Expert); Nominating Chair = Asuka Nakahara . 2024 Audit Chair was John R. Bartholdson (with Finnerty designated as an Audit Committee Financial Expert) .
- Board leadership: Chair is not independent (T. Ritson Ferguson); no Lead Independent Trustee .
- Meetings and attendance:
- 2024: Board 5; Audit 2; Nominating 3; each Trustee attended ≥75% (except Finnerty, newly appointed) .
- 2023: Board 12; Audit 2; Nominating 2; each Trustee attended ≥75% .
- 2022: Board 6; Audit 2; Nominating 0; each Trustee attended ≥75% .
- Annual meeting attendance policy and practice: Attendance not required; Independent Trustees did not attend annual meetings held Oct 11, 2023 and Oct 10, 2024 .
| Governance Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Board meetings held | 6 | 12 | 5 |
| Audit Committee meetings held | 2 | 2 | 2 |
| Nominating Committee meetings held | 0 | 2 | 3 |
| Greis attendance | ≥75% (Trustee-level disclosure) | ≥75% (Trustee-level disclosure) | ≥75% (Trustee-level disclosure) |
Fixed Compensation
- Trustees receive cash retainers; expenses reimbursed; no pension/retirement benefits .
| Compensation Component | 2023 | 2024 |
|---|---|---|
| Aggregate Compensation from the Trust (Cash) | $50,000 | $50,000 |
| Pension/Retirement Benefits | Not Applicable | Not Applicable |
| Meeting Fees | Not disclosed | Not disclosed |
| Other | Expenses reimbursed | Expenses reimbursed |
Implication: Stable director cash retainer; no equity components disclosed; compensation set/reviewed periodically by Independent Trustees via the Nominating Committee charter .
Performance Compensation
- None disclosed for directors. No stock awards, options, PSUs/RSUs, or performance metrics tied to director pay in the proxy statements .
Other Directorships & Interlocks
| Company | Type | Role | Potential Interlocks/Conflicts |
|---|---|---|---|
| AIM Mutual Insurance, Inc. | Not specified | Director | No conflicts with IGR disclosed |
| Kinefac Corporation | Not specified | Director | No conflicts with IGR disclosed |
- Related-party/affiliated holdings screen: Proxy discloses affiliate holdings by Independent Trustees; only Asuka Nakahara reported a legacy LP interest related to a CBRE affiliate; no such relationships disclosed for Greis .
- No nominee is adverse to the Trust or has an interest materially adverse to the Trust .
Expertise & Qualifications
- Real estate investment expertise as founder and CIO-level leader of a private real estate investment firm focused on private real estate; Board cites her background and experience since 2019 service as key qualifications .
Equity Ownership
| Ownership Metric | 2023 (as of 6/30/23) | 2024 (as of 6/30/24) | 2025 (as of 6/30/25) |
|---|---|---|---|
| Dollar Range of Equity Securities Beneficially Owned in IGR (Greis) | $100,001–$500,000 | $100,001–$500,000 | $100,001–$500,000 |
| Trustees & officers as a group – % of outstanding | <1% | <1% | <1% |
| Shares pledged/hedged | Not disclosed | Not disclosed | Not disclosed |
| Section 16 reporting compliance (FY prior year) | In compliance (FY2022) | In compliance (FY2023) | In compliance (FY2024) |
Implication: Meaningful personal investment by Greis relative to cash retainer (alignment signal); no ownership guidelines disclosed; no pledging disclosures for Greis in the proxy.
Governance Assessment
-
Strengths:
- Independent trustee with deep real estate investment credentials; meaningful personal stake in IGR ($100k–$500k) supporting alignment .
- Active committee participation across Audit and Nominating; sustained meeting attendance at or above 75% in reported years .
- No disclosed related-party transactions or adverse interests for Greis; Section 16 compliance maintained .
-
Watch items and potential red flags:
- Board chaired by a non-independent Trustee; no Lead Independent Trustee designated (concentration of agenda-setting/presiding authority) .
- Independent Trustees did not attend the last two annual shareholder meetings; policy does not require attendance (neutral to mild concern on visible shareholder engagement) .
- Director pay is entirely cash with no equity retainer; alignment depends on voluntary ownership rather than structured equity (though Greis’s holdings offset this) .
-
Overall: Governance profile for Greis indicates independence, relevant expertise, and alignment via personal holdings, with board-level structural considerations (no Lead Independent Director) that investors may monitor. Re-election pending as Class III Trustee at the 2025 annual meeting .