More data has been produced in the last two years than in all of human history before that time. . To put these huge numbers in perspective, The Times also asked Equilar to pull data on the annual payouts to chief executives of the nations largest banks and technology companies. The firms require executives to commit at least some personal money to these funds; its whats known in the industry as eating our own cooking. The Times included these numbers because these executives often choose to invest huge sums on top of whats required, and doing so is a perk not available to ordinary investors. "Hotels have been still in the recovery phase on the vacancy side," Caplan said, "but if you look at those other top three sectors, there are very low vacancy rates and very strong rental growth.". In the last two years, Stephen A. Schwarzman, the chief executive and a co-founder of the Blackstone Group, received the largest sum. Were not building enough and especially not enough affordable housing. With regards to todays REIT investors, some are more focused on ESG than others. Weve also brought in very senior ESG professionals to lead efforts at the firm. China's new securitization growth continued in the third quarter (3Q) of 2021 amid some headwinds from regulatory shifts. Meet 17 of the firm's most influential people, who lead major deals from lending to acquisitions. He is a Senior Managing Director with Blackstone based in New York. Sr. Director,. Total Equityaggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. (Stock sales and unrealized equity gains from increase in stock price werent included in this study.) As he worked closely with Gray, who was leading Blackstone's real-estate group at the time, Henritze's profile rose along with the division's assets in his early years at the firm. She's managed to make the adjustment without sacrificing the company's pipeline of deals. He is estimated by Forbes to be worth $3.9 billion. Introductory Note . He grew up in Cincinnati and went to Northwestern University. The way we think about it is that there are two things that increase prices for assetsrising cash flows and rising multiples. There, he played a major role in the development of the commercial mortgage-bond market. This base compensation is the equivalent of $48 per hour assuming a 40 hour work week (2,000 hours per year). The firm's real-estate division manages about $280 billion, with investments including warehouses, Hollywood studios, and biotech laboratories. However, the Wall Street Journal points out that this portfolio increased by 13.8% last year. He coled US acquisitions for opportunistic real-estate funds and started Blackstone's first perpetual investment vehicle for real estate. Green asset-backed securities (ABS) made . Mary Ann Betsch. Last year, the fund received 29,000 applications for 103 junior (analyst) positions an acceptance rate of 0.4%. Roast my CV: Has dropping out ruined my chances in finance? Connect with 500+ global attendees and hear from 25+ industry experts. Source. And since the executives are often huge holders of the stock, they collect dividends, or distributions on their partnership shares, on a quarterly basis. In addition to his work with Core+, Agarwal is a director and president of Blackstone Real Estate Income Trust, or BREIT, and is a member of Blackstone's real-estate investment committee. Frank Cohen - $79,200 in Political Contributions for 2020, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions . Most private equity executives sell their shares upon leaving their firms. He is frequently referred to as "the Saatchi of the North", in reference to the more famous art dealer Charles Saatchi. We expect the higher-inflation, higher-rate environment to create challenges for some investors and managers, but weve been mindful of the prospect of rising interest rates and the possibility of rising rates for some time. That's Frank Petro. Ares Management, however, includes both the amount of personal capital invested and the profits made on those investments. "I faced all the challenges one could imagine when building a multibillion-dollar business from hiring to ensuring standards remain high, moving quickly to keep up with growth, and staying ahead of market swings and growing pains.". 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. The portfolio is being sold by Brookfield Asset Management, which first acquired a majority stake in the company for $830 million . Core+ focuses on spaces like logistics, life-sciences offices, and residential real estate in big cities. Blackstone Group Inc Chief Executive Stephen Schwarzman pocketed at least $610.5 million in 2020 from dividends and compensation, more than any other private equity executive and up 20% from last . That combination has resulted in a resilient portfolio, he said, adding that the firm had done a lot to prepare itself for a downturn. It's up to us! That's in large part because of Kim, BREIT's 43-year-old head of acquisitions and capital markets. Over the past five years, BREIT has amassed a $94 billion portfolio as of year-end 2021. Finally, there is whats known as carried interest, essentially the profits earned on each of the firms deals. An in-depth comparative examination of legal history and jurisprudence however corroborates and amplifies the soundness of the comparison. Since taking over the debt firm in June, Keenan has helped grow its book of loans to $24 billion a record sum. In 2015, Pollack left Deutsche Bank for Blackstone, where he has continued to climb the ranks. See Photos. Contact:sbutcher@efinancialcareers.comin the first instance. In December, Blackstone announced a $3.6 billion deal to acquire Bluerock Residential Growth REIT, a real-estate investment trust that owns about 11,000 apartment units in Sun Belt states like Georgia, Florida, and Texas. In 2015, he collected just under $800 million, up from $689 million the year before. 20 on a Forbes list of valuations for MLB teams. Agarwal, 55, is at the center of the firm's Core+ business, a division that targets long-term investments supported by minimal debt. Blackstone's deals in those areas this year include the $24 billion recapitalization of its Mileway European logistics portfolio in February, which the company billed as the largest private-real-estate deal ever. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. "Multifamily is one of those areas.". The timing of Blackstone 's purchase of Equity Office Properties could hardly have been worse. 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 . See here for a complete list of exchanges and delays. Blackstone Inc. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 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. Both are very stable asset classes. The Blackstone Group Inc. is providing the disclosure contained in this Current Report on Form 8-K to reflect the completion of its conversion (the "Conversion") from a Delaware limited partnership named The Blackstone Group L.P. (the "Partnership") to a Delaware corporation named The Blackstone Group Inc. (the "Corporation") effective at 12:01 a.m. (Eastern . It's been on both sides of the trade in life-sciences properties, with its BioMed Realty acquiring a 22-building campus in Boulder, Colorado, for more than $600 million and selling a San Diego portfolio for $464 million. About 42% of its volume was for apartment properties in 2021. Nareits REITwise: 2023 Law, Accounting and Finance Conference offers a comprehensive educational program for legal, financial, tax and accounting operations within REITs and publicly traded real estate companies. 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. Divide the current compensation by the work RVU to FTE intervals to get a compensation per work RVU interval Now, as long as the doc reports within the RVU interval each month, they are considered full time and as long as their collection per unit stays within the CI range, they would get the agreed upon comp per work RVU. It was the largest real-estate credit fund ever raised, according to Blackstone, and represented nearly half of all funds raised in 2020, the commercial-real-estate brokerage JLL said. These real estate companies have to meet a number of requirements to qualify as REITs. Phone. He has also been responsible for many of Blackstone's other office . People named Frank Cohen. Log In. Carried interest is taxed at a long-term capital-gains rate that is roughly half the ordinary income rate for the nations highest earners. Cohen spoke to REIT magazine about some of these transactions and how BREIT is positioning itself, the value of ESG, the importance of anticipating change, and more. Furthermore, The Times and Equilar focused on publicly traded companies with more than $1 billion in revenue. Mark Zuckerberg of Facebook was paid a salary of $1 last year and received personal security and aircraft perks valued at around $5 million. Scott D. Hoffman. This is why The Times also asked Equilar to collect data from tech firms, since they, too, often have founders at the helm. Since joining the firm, he's been involved in more than $100 billion of real-estate acquisitions and initiatives. Unusually high pay is the main attraction. And one of its own, Jon Gray, has settled into his role as the president and chief operating officer of the firm, running firmwide meetings and seeking to connect the division with other parts of the company. Tell us more about BREITs recent acquisition of Philadelphia-based Resource REIT. Weve expanded the way that we recruit talent at the firm to be inclusive and diverse. McCarthy said Blackstone was positioned to perform well in all cycles, pointing to Blackstone's $8 billion purchase of BioMed Realty Trust in 2015 as an example of an investment that was completed during a time of uncertainty. Nash's team originally focused on making riskier and higher-yielding mezzanine loans behind banks that were making senior loans, he told REIT Magazine in 2015. Found 1654 colleagues at The Blackstone Group L.P.. Caplan is responsible for assessing new investment opportunities and managing existing ones in the firm's real-estate division. What's Mr Cohen's mailing address? McCarthy, who joined Blackstone in 2010, is primarily responsible for working with institutional investors, rather than clinching deals. The Times then analyzed the data, which covered the period from 2012 to 2015, and verified Equilars findings with the firms themselves. It almost doubled Blackstone's square footage in its Link Logistics warehouse platform, which Levine helped create earlier in 2019. 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. 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. The more carried interest earned, the higher the dividend. Since joining Blackstone in 1996, Mr. Cohen has been involved in over $100 billion of real estate transactions. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Weve definitely seen that trendline expand. Very often share prices are influenced by marginal capital flows, which can create a lot of volatility. 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. Agarwal Wesley LePatner Chairman of the Board and Chief Executive Officer President and Director Chief Operating Officer and Director . The company manages $280 billion in real-estate investments from Hollywood studios to biotech labs. Robert Aderholt, R-Ala., has introduced House Resolution 3799, the Constitutional Restoration Act of 2004. Levine was also involved with the acquisitions of Apple REIT Six, Motel 6, and BioMed. 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. 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. Fresno, CA 93703. pay. BREITs Choice Lease program provides access to quality housing for lower and middle-income households that make 80% of a specific areas median income level (AMI). Find thousands of jobs in financial services and technology by signing up to eFinancialCareers today. Nash, 61, is also the executive chair of Blackstone's Mortgage Trust REIT, the firm's publicly traded mortgage real-estate investment trust. 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. 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. Executive compensation at Blackstone is directly tied to investor and shareholder performance, a Blackstone spokesman said in a statement, adding that most of it reflected realized performance fees from investments and long-dated stock grants. Henritze holds some enviable bragging rights: He played a key role in what turned out to be Blackstone's most profitable sale of a single asset ever. Personal. While he's very involved in debt investing, he also sits on the investment committee for Blackstone's equity-investing team and is chair of the board of Blackstone Real Estate Income Fund. 2. Since joining Blackstone in 1996, Mr. Cohen has been involved in approximately $3 billion of real estate transactions encompassing all property types throughout the United. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Musk donated around $1.95 billion in Tesla shares last year, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, French tycoon Niel hikes stake in Millicom to 19.6%, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon. The idea that "Felix Cohen was the Blackstone of Federal Indian Law" has stylistic appeal and could have been little more than a gracious way to celebrate Cohen. people search. While realized carried interest on investments that have already been exited is booming, unrealized carried interest on investments that have yet to be exited is not. 1-202-739-9400 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. Communication is key in everything McCarthy does as a cohead of Blackstone's sprawling real-estate portfolio. Of that amount, only $350,000 was his annual salary. This report is not for commercial use. That applies to his daughter, a Girl Scout who he recently observed identifying and weighing different angles of the Pinewood Derby car she was building. The implication, therefore, is that the average Blackstone person earned $795k for the past six months, and will earn nearly $1.6m for the full year. The couple sold a majority share in the team in 1981, but retained a smaller share of ownership in the team. They have volunteered to forego their $300,000 base salary since the second quarter of 2020 following the spread of COVID-19 in the United States, KKR said. Strategic connections and expert insights into global investment markets Tackling geopolitical issues and harnessing real estate growth opportunities. Many of the earnings are is not traditional compensation, but it's money in their pockets nonetheless. 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. Adjustment without sacrificing the company manages $ 280 billion, with investments including warehouses, Hollywood studios biotech... Talent at the firm than clinching deals not building enough and especially not enough housing. 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