The board of the BBR ALO Fund has added former Goldman Sachs partner Kent Clark to fill a vacancy left by the departure of independent director Ted Seides.
Clark joined the board of the $1.1bn closed-end fund on June 16, the same day Seides left for undisclosed reasons, according to filings, and will stand for election at the fund’s shareholder election on Dec. 15.
BBR Partners did not respond to an inquiry about Seides’ departure.
Seides, 52, had been a board member of the BBR ALO Fund since its inception in 2020. He is the founder of the “Capital Allocators” podcast, which is sponsored by his company Capital Allocators, which provides business and allocator-investement advice as well as content. He is a former CIO of Perch Bay Group who previously co-founded and managed Protégé Partners, a fund of hedge funds, from 2001 to 2015. Seides was also won the Best Citizen award at the first annual With Intelligence Allocator Awards Oct. 21.
Clark, 58, has been vice president of the nonprofit Society of Quantitative Analysts since 2021. From 1992 to 2020, he held various positions at Goldman, Sachs & Co., including most recently partner and managing director.
He was also a trustee of the Julliard School from 2010 to 2022.
Clark joins fellow independent directors Aaron Hood, 50, and Steven Kass, 62.
The board’s chair and sole interested director is Michael Anson, 54, partner, chief administrative officer and chief compliance officer at fund adviser BBR Partners.
Anson is also the fund’s CCO.
The board has an audit committee and a nominating committee.
Independent directors received $20,000 in total compensation for the fiscal year ended March 31, 2022.
The fund’s investment adviser is New York-based BBR Partners, which managed $26bn at the end of 2021.