Anton Brett
About Anton Brett
Anton Brett is Chief Compliance Officer and Secretary of Sixth Street Specialty Lending, Inc. (TSLX), serving since June 30, 2022; he was born in 1987 and is a Principal/Vice President at Sixth Street, with prior roles at Scopia Capital, Willkie Farr & Gallagher, and Kobre & Kim, and holds a J.D. from Duke and a B.A. from Brown . As context for performance during his tenure, TSLX declared total dividends of $2.08 per share from 2024 earnings and its stock traded at a ~30.4% premium to year-end 2024 NAV as of March 31, 2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Scopia Capital Management, LP | Senior Associate | 2017–2020 | Buy-side investment/analysis experience supporting compliance and governance acumen |
| Willkie Farr & Gallagher LLP | Associate | 2014–2017 | Legal training and regulatory expertise relevant to BDC compliance |
| Kobre & Kim LLP | Analyst / Senior Analyst | 2009–2011 | Early-stage legal/analytical foundation in investigations/litigation support |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Sixth Street | Principal / Vice President | Since 2022 | Platform alignment; access to firm-wide compliance, legal, and investment resources |
Fixed Compensation
- TSLX has no employees; executive officers, including the Chief Compliance Officer, are employed by the Adviser (Sixth Street Specialty Lending Advisers, LLC). TSLX does not pay direct salary/bonus to executive officers; instead, it reimburses the Adviser for an allocable portion of compensation tied to services rendered (including the CCO), based on estimated time devoted to TSLX .
- Administration services expenses under the Administration Agreement totaled $3.2 million in 2023 (not broken out by individual), indicating the reimbursed cost framework rather than individual officer pay disclosure .
Performance Compensation
- Executive-specific incentive metrics (e.g., TSR, EBITDA goals) for Anton Brett are not disclosed due to TSLX’s external management model; officer compensation is determined by the Adviser. At the platform level, pay-for-performance is driven by TSLX’s advisory fee construct:
| Metric | Target/Mechanics | Actual/Payout Basis | Notes |
|---|---|---|---|
| Net Investment Income Incentive Fee | 1.5% quarterly hurdle on prior quarter end net assets; 100% catch-up until Adviser receives 17.5% of pre-Incentive Fee NII up to 1.82% (7.28% annualized); then 17.5% above 1.82% | Paid quarterly based on pre-Incentive Fee NII; may be paid even if realized/unrealized capital losses create a net loss | Aligns Adviser incentives to recurring income generation; decreases in net assets increase likelihood of hurdle attainment |
| Capital Gains Incentive Fee | 17.5% of cumulative realized capital gains minus losses since inception (net of previously paid capital gains fees) | Accrued on unrealized gains but payable only upon realization; $47.0M incentive fees in 2023 ($42.6M realized) | Long-term realization focus; Section 205(b)(3) limits payment on unrealized gains |
| Management Fee | 1.5% of average quarterly gross assets; Leverage Waiver reduces fee above 200% asset coverage to 1.0% on incremental assets; $46.4M gross management fees in 2023, $1.2M waived | Quarterly in arrears | Encourages asset growth but partially mitigated at higher leverage via waiver |
Equity Ownership & Alignment
| Metric | Value | As Of |
|---|---|---|
| Beneficial Ownership (shares) | 500 | March 31, 2025 |
| Ownership % of outstanding | <0.1% (“*” per proxy table) | March 31, 2025 |
| Shares Pledged as Collateral | None disclosed for Anton Brett (pledges disclosed for certain other executives, not including Brett) | |
| Insider Hedging/Pledging Policy | Prohibits short sales and public options; strongly discourages other hedging (requires approval); prohibits margin or pledging of company securities, with limited exceptions requiring demonstrated capacity to repay without resort to pledged shares |
- As Secretary and CCO, Brett is the listed contact for stockholder communications and proxy logistics, underscoring his governance role in compliance processes .
Employment Terms
| Term | Detail |
|---|---|
| Appointment Date | June 30, 2022 (Chief Compliance Officer and Secretary) |
| Term/Status | Since 2022; indefinite term |
| Contract/Severance/Change-in-Control | Not disclosed for individual officers; officer services governed via Investment Advisory and Administration Agreements with the Adviser |
| Governance Interface | CCO prepares annual compliance reports; meets separately in executive session with Independent Directors periodically (typically quarterly) |
Investment Implications
- Compensation transparency: Individual officer cash/equity pay (salary, bonus, RSUs/options, severance/CoC) is not disclosed due to the external management structure; investors should assess alignment via the Adviser’s fee framework (NII hurdle/catch-up, capital gains fee, and asset-based management fees) rather than personal incentives for the CCO .
- Ownership alignment: Brett’s disclosed stake is de minimis at 500 shares (<0.1%) with no pledging stated; firm-wide policies restrict hedging/margin/pledging, reducing misalignment risk, though officer-level equity alignment is limited by external pay design .
- Governance and retention: As CCO/Secretary since 2022 with an indefinite term and central role in compliance oversight and board communications, Brett is structurally embedded in risk management and governance; no individual employment contract economics (severance/CoC) are disclosed for retention analysis .
- Trading signals context: Company-level performance indicators during his tenure include consistent dividends ($2.08/share from 2024 earnings) and trading at premium to NAV (~30.4% vs year-end 2024 NAV), but these are platform outcomes not attributable to individual compensation metrics; insider selling pressure indicators are minimal from Brett’s disclosed holdings .