Anthony Grillo
About Anthony Grillo
Independent (non‑interested) Director of SCD; Class I Director with a term running until the 2027 Annual Meeting; appointed effective November 15, 2024; birth year 1955. Background includes senior roles in private equity and investment banking: founder/managing director/partner at American Securities Opportunity Funds (2006–2018), and senior managing director roles at Evercore Partners (2001–2004), Joseph Littlejohn & Levy (1999–2001), and The Blackstone Group (1991–1999). Oversees 17 portfolios in the Franklin Templeton fund complex. Current outside public board: Littelfuse, Inc. (director since 1991).
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| American Securities Opportunity Funds (private equity and credit firm) | Founder, Managing Director and Partner | 2006–2018 | Private equity/credit leadership; investing background |
| Evercore Partners Inc. (investment banking) | Senior Managing Director | 2001–2004 | Investment banking leadership |
| Joseph Littlejohn & Levy, Inc. (private equity) | Senior Managing Director | 1999–2001 | Private equity leadership |
| The Blackstone Group L.P. (private equity and credit) | Senior Managing Director | 1991–1999 | Private equity/credit leadership |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Littelfuse, Inc. | Director | Since 1991 | Current public company directorship |
| Oaktree Acquisition Corp. | Director | 2019–2021 | Prior SPAC board service |
| Oaktree Acquisition Corp. II | Director | 2020–2022 | Prior SPAC board service |
Board Governance
- Independence: Non‑interested (independent) director under 1940 Act/NYSE standards; all standing committees are composed entirely of independent directors and chaired by independents.
- Committee memberships: Audit; Nominating; Compensation; Pricing & Valuation. Chair roles: none (current chairs: Audit—Nisha Kumar; Nominating—Hillary A. Sale; Pricing & Valuation—Carol L. Colman; Compensation—Peter Mason).
- Attendance and engagement: FY ended Nov 30, 2024—Board held 4 regular and 2 special meetings; each director attended at least 75% of the aggregate Board/committee meetings for which eligible; no director attended the 2024 annual meeting (fund has no formal annual-meeting attendance policy).
- Board structure: 8 directors; 7 independent; Chair of the Board is independent (Eileen A. Kamerick). Independent directors meet in executive session and are advised by independent legal counsel.
- Term and tenure: Class I (through 2027 Annual Meeting); service since Nov 15, 2024; oversees 17 portfolios in the fund complex.
| Committee | Membership (Grillo) | FY2024 Meetings |
|---|---|---|
| Audit | Member | 5 meetings |
| Nominating | Member | 7 meetings |
| Pricing & Valuation | Member | 4 meetings |
| Compensation | Member | 1 meeting |
Fixed Compensation
| Period | Aggregate Compensation from SCD ($) | Total Compensation from Fund Complex ($) | Notes |
|---|---|---|---|
| FY ended 11/30/2024 | 1,133 | 32,989 | Joined effective Nov 15, 2024 (partial-year at SCD) |
| Plan features | — | — | Fund provides no pension or retirement benefits to directors. Amounts include service on committees across other investment companies in the FT fund complex. |
No director or immediate family member (who is not an “interested person”) had any interest in the Fund’s investment adviser or its affiliates as of Dec 31, 2024.
Performance Compensation
| Element | Disclosure |
|---|---|
| Stock awards (RSUs/PSUs) | None disclosed for directors in the proxy’s director compensation section. |
| Option awards | None disclosed. |
| Performance metrics tied to director pay | None disclosed. |
| Meeting/committee fee structure detail | Not itemized; totals provided in compensation table. |
Other Directorships & Interlocks
| Company | Relationship to SCD | Potential Interlock/Conflict Considerations |
|---|---|---|
| Littelfuse, Inc. | Grillo is a director (since 1991) | Monitor for potential perceived conflicts if the Fund holds Littelfuse securities; no related‑party transactions with the adviser/affiliates disclosed. |
| Oaktree Acquisition Corp.; Oaktree Acquisition Corp. II | Prior directorships | Historical only; no current interlock effect on SCD. |
As of Feb 7, 2025, directors/officers as a group beneficially owned less than 1% of SCD common stock.
Expertise & Qualifications
- Private equity and credit investing leadership; investment banking senior leadership; cited by the Board among director qualifications.
- Service breadth: oversight across 17 portfolios in the Franklin Templeton fund complex.
Equity Ownership
| Holder | SCD Dollar Range (as of 12/31/2024) | Aggregate Dollar Range Across Family of Investment Companies | Notes |
|---|---|---|---|
| Anthony Grillo | A = None | A = None | Dollar range codes: A=None; B=$1–$10k; C=$10,001–$50k; D=$50,001–$100k; E=Over $100k. |
Governance Assessment
-
Positives
- Strong independence profile: non‑interested director; all standing committees are fully independent; independent board chair; regular executive sessions with independent counsel. These support oversight effectiveness.
- Active committee cadence in FY2024 (Audit 5x; Nominating 7x; Pricing & Valuation 4x; Compensation 1x), indicating engaged board processes.
- Board notes Grillo’s deep private equity and investment banking experience as part of the skills matrix.
-
Watch items for investor alignment and optics
- Zero ownership in SCD and across the fund family (Dollar Range A=None) may signal limited direct economic alignment; group ownership <1% reinforces this. Consider monitoring future ownership.
- No director attended the 2024 annual meeting, and there is no policy requiring attendance—an optics concern for shareholder engagement.
- Significant outside time commitments: 17 portfolio directorships within the fund complex and a long‑tenured external public board (Littelfuse). Time/overboarding risk depends on actual workload and scheduling, though nominating guidelines include limits on other boards.
-
Conflict review
- The proxy discloses no related‑party interests between independent directors (including Grillo) and the adviser or affiliates. No pension benefits; compensation is disclosed in aggregate without equity/option elements. These reduce traditional conflict vectors.
Overall, Grillo brings seasoned transaction and investment oversight experience to SCD with a clear independence profile. Key alignment gaps are the absence of SCD share ownership and annual‑meeting non‑attendance; monitor future ownership changes and engagement practices for signals affecting investor confidence.