Greg Bennett
About Greg Bennett
Greg Bennett, 53, is an independent director of Princeton Capital Corporation (PIAC) since June 9, 2016; he is founder of Azimuth Governance Limited and holds Chartered Accountant (Canada), Certified Public Accountant (US), and CFA charterholder credentials . He currently chairs the Valuation Committee and serves on the Audit Committee and the Nominating and Corporate Governance Committee; he was re‑elected at the 2024 Annual Meeting (Dec 19, 2024) and is nominated for re‑election at the 2025 Annual Meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Harbour Trust Co. Ltd. | Director | 2011–2014 | Provided fiduciary services, independent hedge fund director |
| Butterfield Fund Services (Cayman) Ltd. | Head of Client Relationship Mgmt; Director (2005); Managing Director (2008) | 2004–2010 | Led 75+ staff; >$30B AUA across hedge fund clients |
| HedgeServ (Cayman office) | Managing Director | Established 2010 | Established local office; oversight of operations |
| Coopers & Lybrand (Canada) | Early career | Began 1996 | Accounting foundation |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Azimuth Governance Limited | Founder | Current | Provides governance/director services |
| Hedge Funds Care Cayman | Past Director | Past | Non-profit engagement |
| Cayman Islands Fund Administrators Association | Past Deputy Chairman | Past | Industry association |
| AIMA Cayman | Past Treasurer | Past | Alternative investment industry group |
| CFA Society of the Cayman Islands | Past President | Past | Professional leadership |
Board Governance
- Independent director (not an “interested person” under 1940 Act/NASDAQ rules) .
- Committee assignments: Chair, Valuation Committee; Member, Audit Committee; Member, Nominating & Corporate Governance Committee .
- Board leadership: Independent Chairman (Darren Stainrod); independent directors meet in executive session; all standing committees comprise solely independent directors .
- Board size and vacancy: Four current directors with one vacancy pending strategic review; all directors stand for annual election .
| Attendance Metric | FY 2023 | FY 2024 |
|---|---|---|
| Board meetings attended (%) | 100% | 100% |
| Audit Committee meetings attended (%) | 100% | 100% |
| Valuation Committee meetings attended (%) | 100% | 100% |
| Election Support (2024 Annual Meeting) | For | Withheld | Broker Non‑Votes |
|---|---|---|---|
| Greg Bennett | 115,768,536 | 1,050 | 218,997 |
Fixed Compensation
- Independent directors: $30,000 annual fee; $1,500 per Board meeting (regular/special; in person or videoconference) and $1,500 per committee meeting; Committee chairs (Audit, Valuation, Nominating) receive $3,500 annual chair fee; fees capped at $50,000 per independent director since March 13, 2017 .
- All director compensation is paid in cash; no compensation to interested directors .
| Metric (USD) | FY 2023 | FY 2024 |
|---|---|---|
| Aggregate Compensation (Greg Bennett) | $50,000 | $50,000 |
| Cash vs Equity Mix | 100% Cash | 100% Cash |
| Chair fee eligibility (Valuation Chair) | $3,500 | $3,500 |
Performance Compensation
- PIAC has no stock or option plan, non‑equity incentive plan, profit‑sharing or retirement plan; directors do not receive pension or retirement benefits .
| Performance Metric | FY 2023 | FY 2024 |
|---|---|---|
| Bonus/Non‑Equity Incentive | Not applicable – no such plan | Not applicable – no such plan |
| Equity Awards (RSUs/PSUs/Options) | None disclosed | None disclosed |
| Compensation Performance Metrics (TSR/EBITDA/ESG) | None disclosed | None disclosed |
Other Directorships & Interlocks
| Category | Disclosure |
|---|---|
| Current public company boards (Exchange Act §12 or §15(d) registrants; investment companies) | None |
Expertise & Qualifications
- Chartered Accountant (Canada), CPA (US), CFA charterholder .
- Deep fund administration and fiduciary experience overseeing large AUA, valuation oversight, and director services .
- Service on PIAC’s Audit and Valuation Committees; valuation chair role indicates expertise in investment valuation governance .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Dollar Range |
|---|---|---|---|
| Greg Bennett | 0 | <1% | None (based on $0.06 share price on Nov 11, 2025) |
Note: PIAC’s controlling holders are Capital Point Partners, LP (104,562,000 shares; 86.78%) and Capital Point Partners II, LP (10,922,327 shares; 9.07%); combined ~96% voting power; these entities are controlled via Sema4, Inc. by interested director Mark S. DiSalvo .
Governance Assessment
-
Strengths
- Independent status; committee membership across Audit and Nominating; chairing Valuation Committee enhances oversight of fair value processes .
- Consistent 100% attendance at Board and key committees in FY2023–2024, signaling high engagement .
- Strong shareholder support in 2024 election (115.77M votes for; minimal withholds), indicating investor confidence .
- Modest, capped cash compensation with transparent fee schedule; no equity grants reduces pay complexity or repricing risks .
- Independent Board chair and regular executive sessions of independent directors; all standing committees composed of independent directors .
-
Risks and RED FLAGS
- RED FLAG: Zero share ownership by Bennett—potential “skin‑in‑the‑game” alignment concern for some investors .
- Structural conflict environment: Advisor House Hanover is controlled by interested director DiSalvo; CPP/CPP II own ~96% of shares, raising concentration and related‑party oversight sensitivities—mitigated by independent Audit Committee responsibility for related‑party review .
- No equity‑based director compensation and no ownership guidelines disclosed—may reduce long‑term alignment signals relative to peers (not disclosed in proxy) .
Related‑party note: No related‑party transactions disclosed specific to Bennett; related‑party relationships involve House Hanover and entities controlled by Mr. DiSalvo, overseen by the Audit Committee .
Section 16 compliance: Filings by directors and >10% holders were timely for FY2024 (and FY2023), indicating good compliance hygiene .