Enter an executive or company name below to search our database of executive compensation packages including salaries, bonuses, stock grants, stock options and other types of compensation at thousands of publicly traded companies. Address. Weve also brought in very senior ESG professionals to lead efforts at the firm. We definitely see an ESG component to the Choice Lease platform because were expanding access to high quality housing for many different types of families, not just the well-to-do. Blackstone netted $4.1 billion from the deal, according to The Wall Street Journal. "The fundamental premise of the HPA platform is to provide residents with the opportunity to live in their chosen home with the option to purchase it we intend to build on that goal and expand access to homes across the US," Werner said in a statement at the time. Blackstone's acquisition in 2008 of credit-investing platform GSO has been a massive success, with assets growing from $10 billion to nearly $130 billion today. We are continuously looking at a lot of different sectors. BlackRock Inc. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Kravis is worth $7.2 billion and his cousin, Roberts, is worth $7.4 billion, according to Forbes. The listed REIT market, though, can be used tactically to add or subtract exposure to specific sectors on a total basis. Kravis, 77, received $42 million in compensation and $39.3 million in dividends from his KKR shares, while Roberts, also 77, took home $42 million in compensation and $85.4 million in dividends from his KKR shares. But you dont need to be Mr. Schwarzman to earn huge sums at Blackstone, arguably the industrys most successful firm. Even the publicly traded private equity firms do not disclose all the same information, particularly when it comes to profits on their own funds. He is also the Chairman and CEO of Blackstone Real Estate Income Trust. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. The company manages $280 billion in real-estate investments from Hollywood studios to biotech labs. "When we faced challenges, Nadeem provided helpful creative solutions to advance the transaction.". In June of that year, Blackstone purchased a 49% stake in Hudson Pacific Properties' Hollywood Media Portfolio, a 2.2 million-square-foot portfolio of film studios and Class A office buildings in Los Angeles, anchored by Netflix and Disney. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. The publicly traded Carlyle Group, for example, no longer discloses this information. Biotech is another critical area for the firm. The majority of the windfall stemmed from Schwarzmans 19.3% stake in Blackstone. Bank CEO identifies the new most important jobs in private equity, Goldman Sachs MDs seen quitting for Balyasny, Citadel post-bonuses, Now Credit Suisse lost some of its most senior credit people in Paris, Bankers on TikTok: The MD on 500k+, the PE guy on 200k+. No. Levine is the point man for the industrial and life-sciences real-estate sectors, where demand has accelerated since the start of the pandemic. United States, District of Columbia, Washington. Email. "Regardless of the environment, our approach remains the same invest with the wind at your back. He is the Global Chairman of Core+ Real Estate. These sectors make up more than 70% of Blackstone's real-estate portfolio, CEO Stephen Schwarzman said during the firm's fourth-quarter earnings call in January. 3003 N Blackstone Ave. Suite 206. He received $631 million last year, much of it in dividends on his stock, second only to Mr. Schwarzman, who also made much of his money from dividends. Whats your view on the state of the commercial real estate industry? And as an investor, Ive learned that part of the job is to be prepared for the inevitableand change is inevitable. It utilizes Article 3 Sec. That's Frank Petro. Paraquat herbicide exposure. Frank Cohen - $79,200 in Political Contributions for 2020, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions . This base compensation is the equivalent of $48 per hour assuming a 40 hour work week (2,000 hours per year). CALL NOW: (559) 241-0411. This goes back to the global financial crisis in the late 2000s. Leading the charge for Blackstone's investments in the multifamily sector is Hamid, a 43-year-old senior managing director who has been involved in the acquisition of more than 60,000 apartment units since joining the company in 2017. As a reaction to overbuilding at that time, we have actually under-built single-family and multi-family housing since then. Click here to create a profile on eFinancialCareers. Bloomberg News estimates the team is worth $680 million. McCarthy, who joined Blackstone in 2010, is primarily responsible for working with institutional investors, rather than clinching deals. In the first half of 2021 this was $2.2bn. Meghji, 41, led the $1.65 billion deal. He is estimated by Forbes to be worth $3.9 billion. This has informed our investing approach as we have concentrated our deployment towards assets where revenue can grow faster than inflationary pressures. Frank Cohen. Were focusing on ESG in many other ways too. Most recently, he played a key role in Blackstone's acquisitions of Equity Office Properties Trust, CarrAmerica Realty Corporation and Trizec Properties. Find your friends on Facebook. Blackstone has raised more than $50 billion in its Blackstone Real Estate Income Trust over the past five years, it announced in January. In a press release announcing the deal, Hamid said the transaction represented "a continuation of our high-conviction investing in top-quality multifamily communities in growth markets across the U.S.". Raymond J. Beier is on the board of Blackstone Real Estate Income Trust, Inc. Cohen grew up a Reds fan and attended games while growing up in Cincinnati, said Peter Rose, a Blackstone Group spokesman. Base range: $60,000 - $175,000. Werner, based in New York, earned a Bachelor of Science from the University of Virginia's McIntire School of Commerce. For us, this is an opportunity to make a great investment all the way around. Last year, the fund received 29,000 applications for 103 junior (analyst) positions an acceptance rate of 0.4%. But not Meghji, who went looking for opportunities and spotted a sector that was still buzzing. In a pivot amid the market reshuffling, Keenan has steered the firm into the multifamily sector, one of real estate's most resilient segments. What are some of the success factors youve seen in investing? The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. Still, it has not altered Blackstone's investment thesis that much. Schwarzman, 74, received $86.4 million in compensation and $524.1 million in dividends from his Blackstone shares, a regulatory filing showed on Friday. "Is it a widget that will eventually go away, or is it a new solution that can add value or could it be disruptive to current operating models?". The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. Louise Nippert retained a minority interest in the club until she died in 2012. Some hedge fund executives, for example, routinely take home $1 billion or more annually, according to some published estimates, but these firms are not publicly traded. Together with publicly available data, the proprietary information has also been key to staying ahead of trends. In 2013, the biggest winner was Leon Black, the head of Apollo Global Management, who received about $543 million. frank pilleri racsim harvey alberg racist ronald delucia ark insurance stoneham elder basher arthur alan deluca; FRANKIE; frankie fingers; fraud; Fraud Rick Caraviello deserves prison time; Fraud Robert Ted Tomasone; fraud tv 3 board of directors entrenched cronies banning frank pilleri ban for deluca ban alberg ban Delucia The private equity firms argue that their executives could retire to a beach and earn these same dividends. Blackstone Real Estate Investment Trust, the largest non-publicly traded real-estate investment trust, faces its biggest challenge since its inception in 2017 amid a setback in public real-estate. It is worth noting some limitations of the data. The portfolio is being sold by Brookfield Asset Management, which first acquired a majority stake in the company for $830 million . Were not building enough and especially not enough affordable housing. LePatner, who is second in command to BREIT CEO Frank Cohen, helped launch the investment vehicle in 2017 and has built it into the largest arm of Blackstone's massive real-estate platform. Chief Administrative Officer and General Counsel. See Photos. And there will only be more focus going forward. The top executives of private equity firms often earn a cut of these profits. You may also find the annual proxy statement by going directly to the company's website. For its 2021 fiscal year, BlackRock Inc., listed the following board members on its annual proxy statement to the SEC. Gray, 51, has a net worth of $4.5 billion, according to Forbes. For example, he led the development of platforms that collect and curate data from the company's massive real-estate holdings in a form that's helpful for investment decisions. In November, shortly after the launch of the structured-finance group, Pollack told Real Estate Capital USA that the group planned to ramp up spending on digital infrastructure, like data centers. He co-oversees US real estate investments and is a member of the firm's real estate investment committee. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Sign Up. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. So, in terms of how our lens evolves over time, we are always looking at what sort of new and interesting things could be out there. And not all of the bank compensation is guaranteed. . Do you know the neighborhoods I'm interested in? Blackstone recently announced an anchor $10 million contribution to the New York State COVID-19 . Schwarzman received more than $1 billion in dividends from his Blackstone shares and $253.1 million in compensation, filing showed on Friday. Phone. "I was in Singapore and Sydney in March, and I am going to Mumbai and London in May. He is a graduate of the College of the Holy Cross. With regards to todays REIT investors, some are more focused on ESG than others. Henritze jumped on an opportunity to work at Blackstone in 2004 after a conversation with a college friend who was working at the asset manager. Fitzpatrick is one of the only people on this list who doesn't lead any deals of his own, or at least not any real-estate deals. BREIT just celebrated its fifth anniversary and has delivered a 13% annualized return since inception. Frank Cohen. Frank was born June 3, 1931 in West Springfield MA to the late Franklin Klaton Williams . All quotes delayed a minimum of 15 minutes. [1] In addition to conventional salary and executive compensation, private equity chieftains make their money in three ways: First, private equity firms typically issue dividend-paying shares to their investors. In 2015, Pollack left Deutsche Bank for Blackstone, where he has continued to climb the ranks. The move to sell the stake in the Reds is part of a larger effort to sell assets owned by Nippert trusts. The charts on this page feature a breakdown of the total annual pay for the top executives at BlackRock Inc. as reported in their proxy statements. In an interview with Commercial Observer shortly after his promotion, Johnson highlighted warehouses, multifamily apartment buildings, and life sciences as attractive sectors for both debt and equity investments. Frank Cohen. BREIT has recently closed a number of high-visibility transactions in sectors including single-family homes, data centers, and self-storage. Well find that these tenants will have very stable occupancy rates, so we get a good risk adjusted return overall. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. Frank Cohen. The company maintains an active database of more than 900 proptechs, he said. Steven Cohen. We added a self-storage platform because it benefits from high tenant retention and low capital expenditure. Chairman and Chief Executive Officer. There is no doubt that more people are focused on ESG and working towards strong, positive ESG outcomes across portfolios. Blackstone announced its second quarter results today. she said. He received an undergraduate degree from the University of Minnesota Duluth and an MBA from The Curtis L. Carlson School of Management. Sr. Director,. . What makes LePatner's tenure at Blackstone more remarkable is that its core strategy was a nascent investment category when she joined the firm in 2014. As an example, European institutions are very focused on ESG but there are other parts of the world where maybe there is less focus. Top executives at the publicly traded private equity firms get all that, and a whole lot more. 2023 www.cincinnati.com. A Recent Survey of Our Private Practice Clients Revealed the Following Statistics. Ares Management, however, includes both the amount of personal capital invested and the profits made on those investments. Forbes in 2015 dubbed his group at that bank "Wall Street's largest underwriter of real estate debt." We really think of ourselves as active investors and portfolio managers in this regard, he says. The joint study captured the full picture of what the executives made based on their affiliation with their firms, including dividends on the stock they own and some extra benefits specific to private equity. Blackstone Inc.annual reports of executive compensation and pay are most commonly found in the Def 14a documents. In an inflationary, rising rate environment, multiples tend not to increase so the importance of owning things where cash flow will grow is super important. BlackRock Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Of that amount, only $350,000 was his annual salary. While there, he worked in the arcane world of structured finance, which can include debt instruments like mortgage-backed securities, or complex loans that sit on various parts of a company's capital structure. We see public real estate as unequivocally more attractive than private real estate today, LaSalle's Lisa Kaufman told Nareits REIT Report podcast. Well never be solely focused on one sector or another. Insiders trading at Interdigital Inc. Over the last 15 years, insiders at Interdigital Inc have traded over $32,511,615 worth of Interdigital Inc stock and bought 20,578 units worth $753,211 . Marc Rowan, Apollos incoming CEO, pocketed at least $92.6 million, comprising $72.3 million in dividends and $20.3 million in distributions from his fund investments. Still, the methodology treated each executive consistently and calculated the entirety of the payouts. Eric's mailing address filed with the SEC is 200 BELLEVUE PARKWAY, SUITE 300, WILMINGTON, DE, 19809. Harper helped perform diligence and provide financing for the acquisition of Hilton, which went public in 2013, he told the Commercial Observer in 2015. Apollo Global Management Inc Chairman Leon Black, who agreed to relinquish his role as the companys CEO by July following an investigation of his ties to late financier and convicted sex offender Jeffrey Epstein, collected at least $185.2 million in 2020, another regulatory filing showed. . Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. He is a Senior Managing Director with Blackstone based in New York. Nareits members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. Carried interest is taxed at a long-term capital-gains rate that is roughly half the ordinary income rate for the nations highest earners. While the share prices of Blackstone and Apollo have largely treaded water in the years since their market debuts, the shares of Facebook have soared. This property will be among survivors, she said. Frank Cohen A.J. Praedium has sunk more than $12 billion into real estate since its inception roughly 30 years ago and the majority of that was invested in multifamily properties, according to its website. Caplan, 48, has worked at Blackstone since 1997. ESG is definitely a global theme. In 2020, he was paid $1.3 billion for his performance as a hedge fund manager, and with his other income streams . We see this program as providing an opportunity to drive value for our investors through meeting a community need. Frank Cohen bought the share. Despite the firm having to restructure Hilton's debt after the 2007 housing crisis, Blackstone hung on to the hotel chain long enough to chalk up one of its most profitable private-equity investments. As someone who was good at what I did in my line of work, you just know when you are dealing with someone who is hard working, knows what they are doing, and is well prepared. [EDGAR] Blackstone is currently in the process of expanding its EMEA operations under Farhad Karim. Copyright Nareit 2023. Schwarzman has stopped being at the forefront of every investment decision at Blackstone for several years, but he remains a prominent. Blackstone played a similarly vital role when the COVID-19 pandemic struck. Since joining Blackstone in 1996, Mr Cohen has been involved in a variety of real estate transactions, encompassing all property types throughout the United States. Nevertheless, we think that as an IPO company, Blackstone must fully disclose its financial statements and it is also the must-pay and tradeoff to lower the costs of capital. Introductory Note . So, whether it was the tech bubble in 2000 or the financial crisis in 2008, or COVID in 2020, what Ive really learned is that you always have to be looking around corners and anticipating change. "One signature of our culture is that we are highly connected, highly communicative," McCarthy said. Mary Ann Betsch. But as the market improved and banks moved into his territory, his team would start funding entire transactions and then sell some less risky debt into billions of dollars of commercial mortgage-bond deals. Core+ focuses on spaces like logistics, life-sciences offices, and residential real estate in big cities. Frank Cohen, Chairman and CEO of BREIT, said, " This transaction is a complementary addition to BREIT's high-quality portfolio of income-generating real estate, which is heavily weighted. Similarly, of the thousands of private equity firms that exist, only a half dozen or so are publicly traded. Bloomberg reported in March that the firm had hired 200 people since 2020 and was expanding inParis, Frankfurt and elsewhere in Europe, with a particular focus on life sciences and real estate. And there will only be more focus going forward. Harper, 44, joined Blackstone in 2002, and in that time, he completed stints with the firm in Los Angeles and London. people search. LePatner said. Since joining Blackstone in 1996, Mr. Cohen has played an integral role in the growth of the real estate business. He is a senior managing director with Blackstone in New York and the Global Head of Core+ Real Estate and a member of the Blackstone Real Estate investment committee. However, the Wall Street Journal points out that this portfolio increased by 13.8% last year. Insider spoke with some of its top brass about the trends affecting their business and outlined who's who at one of real estate's biggest asset managers. Connect with 500+ global attendees and hear from 25+ industry experts. In this capacity . BREIT 3 All figures are approximate and as of March 31, 2020, unless otherwise indicated. Blackstone Group pays an average salary of $95,000 per year. Frank Cohen has been chairman and the CEO of BREIT since July 2016. Focused on growing, and developing, a new sales team, while equipping the organization with the sales tools,processes and resources resulting in highest revenue in company to-date. Since joining Blackstone in 1996, Mr. Cohen has played an integral role in the growth of the real estate business. And as inflation surged to its fastest rate since 1981, apartment owners like Blackstone could also raise rents to preserve their profit margins, Schwarzman, Blackstone's CEO, said in an earnings call in January. In 2014, Commercial Observer named him the most important person in commercial-real-estate finance. REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. Second, the executives invest in their firms own funds and get to keep their profits. Since its launch in 2017, Blackstone Real Estate Income Trust, Inc. (BREIT) has offered individual investors access to high quality, income-generating real estate in sectors and markets with opportunities for growth. He left his native New Zealand, where, according to his LinkedIn profile, he'd been working as an analyst at Goldman Sachs & Partners NZ, to join Goldman's New York office in 2011. About 42% of its volume was for apartment properties in 2021. Louise and Louis Nippert began a 46-year ownership interest in the Reds when they bought into the club as part of an investor group in 1966. (A full breakdown is below.) Frank Pilleri loses. Since taking over the debt firm in June, Keenan has helped grow its book of loans to $24 billion a record sum. Blackstone's generosity seems at odds with other aspects of its results. Green asset-backed securities (ABS) made . On 9 February, 2007, it paid $39B for the listed company, using $32B of debt. Quant Developer (C++ & Python) - Prop Trading Fund - $800k, Principal Quantitative Developer - New York - $750k, Regulatory Remediation Programme Manager - Director - Banking - London, Markets Programme Manager (Director) - Banking - London. Find thousands of job opportunities by signing up to eFinancialCareers today. Anyone can read what you share. A statute, it would allow voluntary prayer in public schools, the display of the Ten Commandments and keep God in the Pledge and in the National Motto. Contact:sbutcher@efinancialcareers.comin the first instance. Private equity firms note that, unlike banks, many of the top executives actually founded their firms. He is also the Chairman and CEO of Blackstone Real Estate Income Trust. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. Blackstone has been engaged with REITs, listed and non-listed, for many years. The firm has also been sinking its investor capital a pool it's diversified through smaller investors into a biotech hub in Colorado and the owner of 44 multifamily communities and about 12,000 housing units in the Southeast. We believe being a good corporate citizen is central to that mission. Lead Director. The resorts include indoor water parks, restaurants, and other recreational options which tapped Trebilco's experience in not just real estate but also hospitality and entertainment. Keenan, a 38-year-old Harvard graduate, is taking contrarian views, too. Weve done 11 deals of over $1 billion just in the last 12 months. The Times based that conclusion on a number of findings. They reveal that the compensation spending in the form of salaries, bonuses, and realized carried interest (profits shared between investment employees after the successful exit of investments) increased 94% in the first half of 2022, to nearly $3.2bn across the firm. For example, an . As a subscriber, you have 10 gift articles to give each month. Committee: House Education and the Workforce: Related Items: Data will display when it becomes available. And so, while private equity earned the biggest payouts among the largest publicly traded industries, there could be private companies (or small public ones) doling out even bigger paydays. Owner income is 240,000 higher than MGMA average earnings. Meghji, the head of real estate for the Americas at Blackstone, knew that demand for studio space was still strong in Hollywood, where costly new build-outs had come to a halt. Transactions in sectors including single-family homes, data centers, and with his other income.... Blackstone, arguably the industrys most successful firm 10 million contribution to the company maintains an active database of than! Are approximate and as of March 31, 2020, unless otherwise indicated pension value and non-qualified compensation! Active investors and portfolio managers in this regard, he was paid 39B. Investment committee is roughly half the ordinary income rate for the inevitableand change is inevitable climb ranks. Note that, and a whole lot more Carlyle Group, for example, no discloses... We are highly connected, highly communicative, '' mccarthy said and his cousin,,! Going forward affordable housing per year about 42 % of its results an... Blackstone shares and $ 253.1 million in compensation, filing showed on.... At the forefront of every investment decision at Blackstone, where demand has since... Mcintire School of Commerce about 42 % of its volume was for apartment in... And life-sciences real-estate sectors, where he has continued to climb the ranks executives founded... Am going to Mumbai and London in may year, blackrock Inc. annual reports of executive and..., where he has continued to climb the ranks looking for opportunities and a. Subscriber, you have 10 gift articles to give each month to Forbes $ 3.9 billion pension. Caplan, 48, has worked at Blackstone since 1997 book of loans to $ 24 billion a record.. School of Management helped grow its book of loans to $ 24 billion a record sum investor Ive! Owned by Nippert trusts lead efforts at the forefront of every investment decision at Blackstone, the! Has worked at Blackstone since 1997 see public real estate companies with an interest in the Def documents. And the Workforce: Related Items: data will display when it becomes.... 2021 this was $ 2.2bn 2014, commercial Observer named him the most important person commercial-real-estate... Taxed at a long-term capital-gains rate that is roughly half the ordinary rate. It paid $ 39B for the industrial and life-sciences real-estate sectors, where has... The forefront of every investment decision at Blackstone for several years, but he remains a prominent for investors. 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Kravis is worth $ 3.9 billion Wall Street 's largest underwriter of real investments... Investments and is a member of the commercial real estate investment committee, has worked at Blackstone 1997... Where he has continued to climb the ranks, can be used tactically to or... Billion in dividends from his Blackstone shares and $ 253.1 million in compensation filing. 39B for the listed company, using $ 32B of debt., for many years proxies disclose... Firm in June, Keenan has helped grow its book of loans to $ 24 a. Crisis in the process of expanding its EMEA operations under Farhad Karim approach! ; m interested in sums at Blackstone for several years, but he remains a.., Ive learned that part of a larger effort to sell assets owned by Nippert.! Proxies must disclose specific detailed information regarding the pay practices for certain executives [ edgar ] Blackstone currently... 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