Erik Bissonnette
About Erik Bissonnette
Erik Bissonnette is President of Blue Owl Technology Finance Corp. (OTF), age 45, and has served as an executive officer since 2024; he is a Senior Managing Director at Blue Owl, Co‑Head of Technology Investing, and a member of the Adviser’s Technology Lending Investment Committee . He holds a B.A. in Economics with a double major in English from Wake Forest University . Under his leadership, OTF executed a merger with OTF II to form the largest software‑focused BDC by total assets and subsequently listed on the NYSE in June 2025; management emphasized strong portfolio performance, excellent credit quality, and attractive returns through this period . Financial performance context (EPS trend): see table below.
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Diluted EPS - Continuing Operations ($USD) | $0.09 | $1.80 | $1.52 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Capital Source | Managing Director & Head of Technology Leveraged Finance | 2009–2017 | Led technology leveraged finance origination and execution |
| ABS Capital Partners | Associate | 2007–2009 | Growth equity investing in tech companies |
| Wachovia Securities | Associate | ~2003–2007 (four years) | Investment banking experience supporting financing and advisory |
| Banc of America Securities | Analyst | 2001–2003 | Early‑career analytical training in capital markets |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Blue Owl Capital Inc. (Credit platform) | Senior Managing Director; Co‑Head of Technology Investing; Member of Technology Lending Investment Committee | 2018–present | Co‑leads software lending strategy across Blue Owl Credit; investment committee oversight |
| Blue Owl Technology Finance Corp. and affiliates (OTF/OTIC/OTF II) | President; Portfolio Manager for technology lending funds | 2024–present (President at OTF) | Executive leadership and portfolio management for tech lending strategy |
Fixed Compensation
| Component | Disclosure | Notes |
|---|---|---|
| Company‑paid base salary | None | OTF has no employees; executive officers do not receive direct compensation from OTF . |
| Company‑paid bonus | None | No direct bonuses paid by OTF to executive officers . |
| CFO/CCO reimbursement | Reimbursed to Adviser | OTF reimburses the Adviser for allocable compensation of CCO/CFO and their staffs based on time devoted to OTF . |
| Adviser compensation (to executives) | Not disclosed by OTF | Executives are employees of the Adviser; compensation realized through Adviser profits/fees (see Performance Compensation linkage) . |
Performance Compensation
OTF is externally managed; the compensation levers affecting executive economics flow through the Adviser's fee structure and profits.
| Metric/Plan Feature | Target/Structure | Actual/Payout | Vesting/Trigger | Notes |
|---|---|---|---|---|
| Base Management Fee (pre‑listing) | 0.50% of average gross assets, excl. cash (quarterly, in arrears) | N/A | N/A | Prior to Exchange Listing; borne by shareholders . |
| Base Management Fee (post‑listing) | 1.50% on gross assets above 200% asset coverage; 1.00% below 200% (quarterly) | N/A | N/A | Effective following Exchange Listing; fee stratified by leverage . |
| Incentive Fee (pre‑listing) | Not payable | N/A | N/A | Adviser not entitled to incentive fee prior to Exchange Listing . |
| Incentive Fee (post‑listing) | Two components (independent): NII‑based and capital gains | N/A | N/A | Structure described in advisory agreement; details referenced across proxies . |
- Pay‑for‑performance linkage: Executives (as Adviser employees) economically benefit via Adviser fees tied to OTF’s gross assets/leverage and post‑listing incentive fee components; OTF does not disclose individual executive performance metrics (TSR, revenue, EBITDA) or bonus/PSU/RSU terms for its officers .
Equity Ownership & Alignment
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Ownership Details | Pledging/Hedging |
|---|---|---|---|---|
| Erik Bissonnette | 144,025 | <1% (465,122,953 shares outstanding as of Record Date) | Held jointly with spouse | No pledging/hedging disclosed in proxy . |
| Officers & Directors (group of 12) | 202,066 | <1% | Address c/o OTF | Not disclosed . |
| 5% owners (context) | Regents of the University of California 43,624,472 (9.38%); CalSTRS 29,545,294 (6.35%); MIC Capital Management 29,130,491 (6.26%) | As shown | Institutional holders context for float and influence | Not disclosed . |
Lock‑up and potential supply dynamics:
- In connection with NYSE listing, Board waived transfer restrictions on 23,256,814 shares; remaining shares subject to staggered lock‑up releases at 180, 270, and 365 days post‑listing .
- OTF approved a $200 million share repurchase program for 18 months post‑listing, providing potential offset to selling pressure .
Employment Terms
| Term | Disclosure | Details |
|---|---|---|
| Employment status | Employee of Adviser (externally managed BDC) | OTF has no employees; executives employed by Blue Owl Technology Credit Advisors LLC . |
| Employment agreement with OTF | None disclosed | Compensation and employment terms reside with the Adviser; OTF does not disclose officer‑level contracts (non‑compete/non‑solicit) . |
| Severance/change‑of‑control | Not disclosed for executives | Adviser fee economics and Board/charter‑level provisions disclosed; no individual executive severance terms in OTF filings . |
| Clawbacks/tax gross‑ups | Not disclosed for executives | No executive‑specific clawback or gross‑up disclosures in OTF proxies . |
Additional Performance & Governance Context
- Executive biography and tenure: President (officer since 2024), Senior MD, Co‑Head Technology Investing; education Wake Forest University .
- Strategic milestones: Merger with OTF II (combined >$12B assets at FV and ~180 portfolio companies pro forma as of Dec 31, 2024) ; NYSE listing announced (June 2025) with management commentary on strong credit quality and software lending focus .
- Adviser compensation mechanics: Detailed management fee and incentive fee structures pre/post listing, ultimately borne by shareholders; incentive fees only post‑listing .
Investment Implications
- Alignment via external management: Because OTF’s executives are paid by the Adviser, direct pay‑for‑performance metrics (e.g., revenue/EBITDA/TSR‑linked bonuses) for Erik are not disclosed; economic incentives are indirectly linked to OTF’s asset base/leverage and post‑listing incentive fee mechanics, potentially aligning Adviser/executive economics with NII and long‑term capital gains but diluting transparency versus internally managed peers .
- Ownership alignment: Erik’s direct beneficial ownership is modest (<1%), reducing “skin‑in‑the‑game” alignment; no pledging disclosed, but monitor future Form 4s post lock‑up tranche releases for any selling or hedging activity .
- Supply and trading signals: Staggered lock‑up releases at 180/270/365 days post‑listing can create episodic selling pressure; the $200M repurchase authorization provides a counterbalance—track execution versus authorization and secondary transactions to gauge net float dynamics .
- Execution track record: Management communications emphasize strong portfolio performance and credit quality through the merger and listing stages—investors should reconcile these claims with quarterly EPS/NII trends and non‑accruals; EPS trend shown above for historical context .