William Wright II
About William H. Wright II
Independent director born in 1960; serving on the Brookfield Real Assets Income Fund Inc. (RA) board since August 1, 2020. Wright chairs the Audit Committee and sits on the Governance Committee; the board has formally determined he is independent under NYSE standards. He is designated an “audit committee financial expert,” and brings deep investment banking and corporate finance expertise from a 28-year career at Morgan Stanley, where he led the corporate finance execution group until retiring in 2010 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Morgan Stanley | Managing Director; Head, Corporate Finance Execution Group | 1982–2010 | Led teams executing complex equity offerings for multinational corporations |
| Various investment management and non-profit entities | Director/Trustee | Not specified | Governance and oversight roles noted but not itemized |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| TCG BDC I, Inc. | Director | Feb 2021–Present | Not disclosed |
| TCG BDC II, Inc. | Director | Feb 2021–Present | Not disclosed |
| Carlyle Secured Lending III | Director | Feb 2021–Present | Not disclosed |
| “The Carlyle Group” (as referenced) | Director | Feb 2021–Present | Not disclosed |
Board Governance
- Committee assignments: Audit Committee (Chair), Governance Committee member; also sits on the Qualified Legal Compliance Committee (QLCC) .
- Independence: Board determined Wright is independent per NYSE standards; majority of the board is independent .
- Financial expert designation: Wright is designated an “audit committee financial expert” under Item 401(h) of Regulation S-K .
- Attendance and engagement:
- Board met 4 times in FY2024; each director attended at least 75% of board and committee meetings on which they served .
- Audit Committee met 4 times in FY2024 .
- Portfolios overseen in Fund Complex: 10 .
| Governance Item | FY 2024 | Notes |
|---|---|---|
| Board Meetings Held | 4 | Virtual-only annual meeting policy noted separately in proxy |
| Audit Committee Meetings Held | 4 | Wright serves as Audit Committee Chair |
| Director Attendance Rate | ≥75% | Minimum threshold disclosure; individual rates not itemized |
Fixed Compensation
| Component | FY 2024 Actual | FY 2025 Policy |
|---|---|---|
| Independent Director aggregate annual retainer (Fund Complex) | $250,000 | $260,000 (effective Jan 1, 2025) |
| Audit Committee Chair fee | $50,000 | $50,000 |
| Governance Committee Chair fee | $15,000 (not applicable to Wright) | $15,000 (not applicable to Wright) |
| Independent Board Chair fee | $55,000 (not applicable to Wright) | $55,000 (not applicable to Wright) |
| Pension/Retirement Plan | None | None |
| Director Compensation (FY 2024) | Amount |
|---|---|
| Compensation from RA (Fund-level) | $61,534 |
| Total Compensation from Fund Complex | $300,000 |
Notes:
- Compensation is paid in cash; proxy details cash retainers and chair fees, plus expense reimbursement. No meeting fees are disclosed; a continuing education policy reimburses learning costs .
Performance Compensation
| Metric | FY 2024 | Plan Detail |
|---|---|---|
| Bonus | Not disclosed; none indicated for directors | |
| Equity awards (RSUs/PSUs) | Not disclosed; none indicated for directors | |
| Options | Not disclosed; none indicated for directors | |
| Performance metrics tied to pay (e.g., TSR, EBITDA) | Not applicable to directors | |
| Clawback provisions | Not disclosed for directors |
Other Directorships & Interlocks
| Company | Sector/Type | Overlap/Interlock Considerations |
|---|---|---|
| TCG BDC I, Inc.; TCG BDC II, Inc.; Carlyle Secured Lending III | Business development companies (credit) | RA invests across real assets and credit; while no specific conflicts are disclosed, monitor for potential interlocks if RA holds securities related to these issuers (none disclosed in proxy) . |
Expertise & Qualifications
- Investment banking and corporate finance specialist; led complex equity offering execution globally at Morgan Stanley .
- Audit Committee Financial Expert designation; deep financial reporting and oversight capabilities .
- Independent director with governance experience across multiple investment management boards .
Equity Ownership
| Ownership Metric | Fund (RA) | Fund Complex Aggregate |
|---|---|---|
| Dollar Range of Equity Securities (as of 12/31/2024) | A (None) | A (None) |
| Beneficial Ownership Group (Directors/Officers) | <1% of outstanding shares (collectively) | N/A |
Key to dollar ranges: A=None; B=$1–$10,000; C=$10,001–$50,000; D=$50,001–$100,000; E=Over $100,000 .
Governance Assessment
- Strengths: Independent status; Audit Chair with “financial expert” designation; active oversight evidenced by 4 Audit Committee meetings; robust board governance framework (independent majority, independent counsel, QLCC) .
- Alignment concerns: No personal share ownership in RA or the Fund Complex as of 12/31/2024 (A=None), which diminishes “skin-in-the-game” alignment for an income-focused closed-end fund board; consider investor engagement on director ownership guidelines if any exist (none disclosed) .
- Compensation structure signals: Cash-heavy retainer structure with a 4% increase in 2025 (to $260k) and fixed Audit Chair fee ($50k); no at-risk or performance-linked compensation, which is standard for investment company boards but offers limited pay-for-performance linkage .
- Attendance/engagement: Disclosure meets minimum threshold (≥75%); individual attendance rates not provided—investors may seek more granular transparency for committee-level attendance .
- Conflicts and related-party exposure: Board deemed him independent; proxy discloses no family relationships or regulatory sanctions; no related-party transactions involving Wright are discussed—continue monitoring given external BDC directorships .