Craig Ruckman
About Craig Ruckman
Craig A. Ruckman (born 1977) serves as Secretary of Brookfield Real Assets Income Fund Inc. (RA) and has held this role since November 17, 2022; he is also a Managing Director at Brookfield Public Securities Group LLC (the Adviser) since October 2022 . Prior experience includes Director at Allianz Global Investors U.S. Holdings LLC (2016–2022), Assistant Secretary for 63 funds in the Allianz Global Investors Fund Complex (2017–2020), and Chief Legal Officer of Allianz Global Investors Distributors LLC (2019–2022), indicating a legal/governance-focused leadership profile . Officers, including Ruckman, are employees of the Adviser rather than compensated directly by the Fund; as of recent record dates, Fund directors and officers collectively owned less than 1% of outstanding shares, and Ruckman’s Form 3 disclosed zero common shares beneficially owned at filing . He regularly acts in official proxy capacities, including signing “By Order of the Board of Directors” and serving as a named proxy holder for annual meetings .
Past Roles
| Organization | Role | Years | Strategic Impact / Responsibilities |
|---|---|---|---|
| Brookfield Real Assets Income Fund Inc. (RA) | Secretary | Nov 2022–Present | “Secretary of the investment companies in the Fund Complex…; Assistant Secretary of Brookfield Infrastructure Income Fund Inc. (2023–Present)” |
| Brookfield Public Securities Group LLC (Adviser) | Managing Director | Oct 2022–Present | Managing Director at Adviser (legal/governance leadership across fund complex) |
| Allianz Global Investors U.S. Holdings LLC | Director | 2016–2022 | Director position at AGI U.S. Holdings |
| Allianz Global Investors Fund Complex (63 funds) | Assistant Secretary | 2017–2020 | Assistant Secretary across 63 funds (corporate secretary responsibilities) |
| Allianz Global Investors Distributors LLC | Chief Legal Officer | 2019–2022 | Chief Legal Officer (distribution/legal oversight) |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| RA Filings | Attorney-in-Fact (appointed) | 2025 | Listed among individuals appointed as attorney-in-fact with full power of substitution |
| RA Board Proxy | Named Proxy Holder | 2024–2025 | Co-proxy holder (with Adam Sachs) for annual meetings; signs notices “By Order of the Board of Directors” |
Fixed Compensation
Officers who are employees of the Adviser (including Ruckman) receive no remuneration from the Fund for services as officers. Fund-level officer cash compensation is therefore $0 across years.
| Metric | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Fund-paid officer remuneration ($USD) | $0 (“No remuneration was paid by the Fund to… officers or employees of the Adviser…”) | $0 (“No remuneration was paid…”) | $0 (“No remuneration was paid…”) | $0 (“No remuneration was paid…”) | $0 (“No remuneration was paid…”) |
Notes:
- Independent Director retainers are disclosed separately and increased over time, but do not apply to officers employed by the Adviser .
Performance Compensation
- No RSUs/PSUs/options or Fund-level bonus structures are disclosed for RA officers; compensation occurs at the Adviser level and is not itemized in RA proxies for Ruckman .
- The proxy notes the President (Hurley) “may be entitled… to receive a bonus based upon a portion of the Adviser’s profits,” but no analogous disclosure is provided for the Secretary role .
Equity Ownership & Alignment
| Item | Value | Evidence |
|---|---|---|
| Non-derivative common shares beneficially owned (Form 3) | 0 shares | Form 3 lists “common stock, 0, D” |
| Director/Officer group ownership | <1% of outstanding shares (as of record dates) | Proxies state officers and directors collectively <1% |
| Shares pledged as collateral | Not disclosed | No pledging disclosures found in proxies reviewed |
| Stock ownership guidelines (officers) | Not disclosed by Fund | No officer ownership guidelines in RA proxy sections |
| Hedging/derivatives positions | Not disclosed | No officer hedging disclosures in RA proxies |
Employment Terms
- Role and tenure: Appointed Secretary of the Fund on November 17, 2022; continues in office at the discretion of the Board .
- Employment relationship: Officers (including Ruckman) are employees of the Adviser; RA discloses no personal employment contracts, severance provisions, change-of-control economics, or non-compete terms for officers in proxies reviewed .
- Related agreements context: RA discloses advisory and sub-advisory arrangements (including Oaktree) and associated change-of-control obligations for the sub-adviser, but these are firm-level agreements, not individual officer contracts .
Investment Implications
- Alignment: Fund-level officer pay is $0 and officers as a group own <1% of shares; Ruckman’s Form 3 shows 0 shares. Direct “skin-in-the-game” via Fund equity appears minimal, reducing alignment via Fund equity incentives and lowering insider selling pressure tied to Fund grants .
- Retention risk: Compensation occurs at the Adviser, where legal/compliance leadership roles and career progression (Managing Director) suggest retention levers are off-Fund and not transparent in RA filings; lack of Fund-level severance/change-of-control terms indicates retention and economics are driven by Adviser policies, not RA .
- Trading signals: Absence of disclosed officer equity awards/options and zero reported holdings in Form 3 imply limited near-term insider selling pressure from Ruckman; monitoring Adviser-level disclosures or any future Form 4 activity would be more informative than Fund proxies for trading signals .
- Governance execution: Extensive legal/corporate secretary background across multiple fund complexes indicates strong process and governance execution capacity, but RA proxies provide no performance-linked pay metrics (TSR, revenue/EBITDA growth) tied to the Secretary role to evaluate pay-for-performance alignment at the Fund level .