Business Context and Reporting Period
Blackstone / GSO Secured Lending Fund filed a Form 8-K dated November 4, 2020, with the report signed November 6, 2020. The filing reports changes to the Company’s board of trustees under Item 5.02.
Material Corporate Changes
- Robert Harteveldt resigned as a trustee effective November 4, 2020.
- The filing states that Mr. Harteveldt’s resignation was not related to any disagreement with the Company concerning its operations, policies or practices.
- Effective November 5, 2020, the Board appointed James F. Clark as a trustee and as a member of the Audit Committee and Nominating and Governance Committee.
- Following the appointment, the Board consisted of seven trustees, including four trustees who were not “interested persons” under the Investment Company Act of 1940.
Financial Metrics, Liquidity and Debt
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, portfolio, or other financial-performance metrics.
Management Commentary, Compensation and Other Matters
- Mr. Clark has been a partner at Sound Shore Management, Inc. since 2004 and previously held senior research roles at Credit Suisse First Boston.
- The filing states that Mr. Clark was not appointed pursuant to any agreement or understanding with the Company or another person.
- No related-party transactions requiring disclosure under Item 404(a) of Regulation S-K were reported for Mr. Clark.
- Mr. Clark will receive the standard compensation paid to the Company’s trustees who are not interested persons.
- The filing contains no guidance, outlook, contingency, unusual financial item, or risk commentary.
Important Facts to Verify
- Confirm the effective dates of Mr. Harteveldt’s resignation and Mr. Clark’s appointment.
- Verify the resulting Board composition and committee memberships.
- Review subsequent filings for additional trustee changes or changes to Mr. Clark’s compensation.
- Consult the Company’s financial filings separately for operating performance, leverage, liquidity and portfolio information, which are not included in this 8-K.