Nisha Kumar
About Nisha Kumar
Independent Director of LMP Capital & Income Fund Inc. (NYSE: SCD) since 2019; born 1970. Kumar chairs the Audit Committee and is designated an “audit committee financial expert,” with deep CFO/finance experience at Greenbriar Equity Group (2011–2021), Rent the Runway (2011), and AOL LLC (2007–2009). She is a member of the Council on Foreign Relations and oversees 17 portfolios within the Franklin Templeton fund complex .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Greenbriar Equity Group, LP | Managing Director; Chief Financial Officer; Chief Compliance Officer | 2011–2021 | Led finance and compliance for PE platform |
| Rent the Runway, Inc. | Chief Financial Officer; Chief Administrative Officer | 2011 | Senior operating finance role |
| AOL LLC (Time Warner Inc. subsidiary) | Executive Vice President; Chief Financial Officer | 2007–2009 | Corporate finance leadership |
External Roles
| Organization | Role | Since/Through | Notes |
|---|---|---|---|
| Stonepeak-Plus Infrastructure Fund LP | Director | Since 2025 | Private fund directorship |
| Birkenstock Holding plc | Director | Since 2023 | Public company directorship |
| The India Fund, Inc. | Director | Since 2016 | Closed-end fund |
| Aberdeen Income Credit Strategies Fund | Director | 2017–2018 | Former directorship |
| The Asia Tigers Fund, Inc. | Director | 2016–2018 | Former directorship |
Board Governance
- Board composition: 8 directors, 7 independent; Eileen A. Kamerick serves as independent Chair. All standing committees (Audit; Nominating; Compensation; Pricing & Valuation) are composed entirely of independent directors .
- Independence: Kumar is a non‑interested director under the 1940 Act and independent under NYSE standards; no relationships with the adviser or its affiliates as of 12/31/2024 were reported for independent directors .
- Attendance: FY2024 had 4 regular and 2 special board meetings; each director attended at least 75% of meetings for which eligible. No directors attended the 2024 annual meeting of stockholders .
| Committee | Role | FY2024 Meetings |
|---|---|---|
| Audit | Chair; Member | 5 |
| Nominating | Member | 7 |
| Compensation | Member | 1 |
| Pricing & Valuation | Member | 4 |
Fixed Compensation
- The fund provides no pension or retirement benefits to directors; compensation reflects service across SCD and other FTFA-advised funds/committees .
| Director | Aggregate Compensation from SCD (FY ended 11/30/2024) | Total Compensation from Fund Complex (CY ended 12/31/2024) |
|---|---|---|
| Nisha Kumar | $20,906 | $486,000 |
Performance Compensation
- The proxy discloses director compensation as aggregate amounts; no performance-based components (bonuses, RSUs/PSUs, options), vesting schedules, clawbacks, or change‑of‑control provisions are disclosed for directors. Compensation Committee’s remit is to recommend appropriate compensation of independent directors and operates under a written charter .
| Metric | Disclosure |
|---|---|
| Target/Actual Bonus | Not disclosed in proxy |
| Equity Awards (RSUs/PSUs) | Not disclosed in proxy |
| Options (strike, vesting) | Not disclosed in proxy |
| Performance Metrics (TSR, EBITDA, ESG) | Not disclosed in proxy |
| Clawback/COC Provisions | Not disclosed in proxy |
| Pension/SERP | None provided by the Fund |
Other Directorships & Interlocks
| Company/Entity | Type | Potential Interlock/Conflict Notes |
|---|---|---|
| Birkenstock Holding plc | Public company | No specific SCD-related conflicts disclosed |
| The India Fund, Inc. | Closed-end fund | Same sector (funds); independence affirmed vs adviser |
| Stonepeak-Plus Infrastructure Fund LP | Private fund | Monitor for related‑party transactions if Stonepeak intersects with SCD service providers; none disclosed |
| Aberdeen Income Credit Strategies Fund; The Asia Tigers Fund, Inc. | Closed-end funds (prior) | Prior roles; no current conflict disclosed |
Expertise & Qualifications
- Audit committee financial expert; deep CFO and compliance background spanning public company and PE settings; governance network (CFR membership). Contributes financial reporting, compliance, and valuation oversight capabilities .
Equity Ownership
| Item | Value |
|---|---|
| Dollar range of SCD equity owned | “A” = None |
| Aggregate dollar range across funds overseen (family of investment companies) | “E” = Over $100,000 |
| Shares pledged/hedged | Not disclosed in proxy |
| Group beneficial ownership (directors/officers) | <1% of SCD common shares outstanding |
Insider Trades
| Item | FY2024 Status |
|---|---|
| Section 16(a) compliance | Fund believes all filing requirements were met |
| Form 4 transactions reported (director) | Not disclosed in proxy; no specific trades cited |
Governance Assessment
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Strengths:
- Audit leadership and expertise: Chair of Audit; designated financial expert; Audit met 5x in FY2024—supports robust oversight of financial reporting and auditor independence .
- Independence and committee coverage: Non‑interested director; member of all four key committees composed of independent directors, including active Nominating (7x) and Valuation (4x) oversight .
- Experienced finance/operator: Prior CFO roles at AOL, Rent the Runway, Greenbriar Equity; contributes to valuation and risk oversight .
-
Concerns / RED FLAGS to monitor:
- Ownership alignment: Reports no SCD share ownership (“A” = None), which can weaken skin‑in‑the‑game alignment for a closed‑end fund director .
- Shareholder engagement optics: No directors attended the 2024 annual meeting; while not required, absence can be viewed as a negative signal for engagement .
- Workload/overboarding lens: Oversees 17 portfolios within fund complex and holds external directorships (Birkenstock; Stonepeak‑Plus; The India Fund). While independence against the adviser is affirmed, monitor capacity and potential interlocks; no related‑party transactions disclosed .
-
Compensation structure signals:
- Compensation appears fixed and cash-based with no disclosed performance linkage or equity grants; Compensation Committee met only once in FY2024, suggesting limited changes to pay structure .
- No pensions; no clawbacks or COC terms disclosed for directors .
Overall, Nisha Kumar brings strong audit/finance credentials and independent oversight, but the lack of SCD share ownership and low annual‑meeting attendance are notable alignment and engagement flags for investors to monitor .