Harper, 44, joined Blackstone in 2002, and in that time, he completed stints with the firm in Los Angeles and London. She won the race. Of course, because Facebooks stock price is significantly higher than Blackstones or Apollos, Mr. Zuckerberg is worth more, at roughly $49 billion, than Mr. Schwarzman and Mr. Black (who are both billionaires) combined. Frank Petro is the "James Brown" of compensation litigation - the hardest working man in show business! 2125835000. 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 . Thorough reviews have been conducted to assure this data accurately reflects disclosures. . . Our job as investors is to identify areas of growth and then overweight those areas and sectors. Needless to say this will be skewed in favor of people at principal level and above: more junior staff don't get carried interest payments. The team said in a Tuesday news release that it approved approved the sale Friday. These are the characteristics of real estate investment. Blackstone Group pays an average salary of $95,000 per year. Agarwal Wesley LePatner Chairman of the Board and Chief Executive Officer President and Director Chief Operating Officer and Director . All rights reserved. And there will only be more focus going forward. Since its founding in 2017, Blackstone Real Estate Income Trust has grown into a $116 billion lynchpin of Blackstone's sprawling real-estate investment platform. 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. For its 2021 fiscal year, BlackRock Inc., listed the following CEO pay ratio data on its annual proxy statement to the SEC. Schwarzman, 74, received $86.4 million in compensation and $524.1 million in dividends from his Blackstone shares, a regulatory filing showed on Friday. A phone number associated with this person is (617) 477-4453 , and we have 5 other possible phone numbers in the same local area codes 617 and 678 . 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. Biotech is another critical area for the firm. "I'm making progress on that," he said. There is no doubt that more people are focused on ESG and working towards strong, positive ESG outcomes across portfolios. Caplan, 48, has worked at Blackstone since 1997. For its 2020 fiscal year, Blackstone Inc., listed the following CEO pay ratio data on its annual proxy statement to the SEC. In this capacity . We are currently several million units shy of where we need to be. In Agarwal, Blackstone has tapped one of its most experienced operators to craft its Core+ efforts. Blackstone's generosity seems at odds with other aspects of its results. He is a graduate of the College of the Holy Cross. Pollack established himself as a star in real-estate finance during his 16-year tenure at Deutsche Bank. 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. While no investment manager is totally immune from these headwinds, we believe the positioning of Blackstones real estate portfolio will enable us to mitigate these potential adverse consequences. Other prominent firms have produced big payouts as well. At QTS, we are working on a program to get to 100% renewable power. 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. I think ESG is something that is and will remain a large focus here at Blackstone and ultimately, youll see our underlying investors continue to be very concerned about managing ESG as well. On 9 February, 2007, it paid $39B for the listed company, using $32B of debt. Found 1654 colleagues at The Blackstone Group L.P.. Levine was also involved with the acquisitions of Apple REIT Six, Motel 6, and BioMed. Of that amount, only $350,000 was his annual salary. Hotels bring the mix up to 80%. He has . Its distributable earnings jumped 16% year-over-year in 2020 as the worlds largest manager of alternative assets such as real estate and private equity capitalized on the capital markets rally following the Federal Reserves moves to support the U.S. economy during the pandemic. "Then, I try to turn my focus to getting myself and my two daughters ready for our days and out the door," McCarthy said. REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. Still, the methodology treated each executive consistently and calculated the entirety of the payouts. Test Drive ZoomInfo's Directories Browse Directories. 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. From every other industry tracked by Equilar, there were only five executives who reached such heights. The actual average hours worked per week at Blackstone Group based on our data is actually 67 hours, which . Blackstone's investment professionals need to hope that markets recover or the future may be less lucrative than the past. . 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. Robert H. Castellini - W. Joseph Williams Jr. - Thomas L. Williams Lindner Reds Baseball LLC - Frank Cohen - William J. Reik Buy Buy Baseball, LLC - EMK Investment Company, LLC - Larry Sheakley - Jeffrey L. Wyler Harry J. Fath - Jeffrey L. Gendell - Edwin J. Riguad, AACE, LLC - HKR Baseball, LLC - Ronald L. Sargent John H. Wyant - George H. Vincent, Queen City Diamond, LLC - Heading for Home . "Everyone has a good pitch, but the real question is how valuable and developed the solution is," Fitzpatrick said. Since joining Blackstone in 1996, Mr. Cohen has played an integral role in the growth of the real estate business. Their comparatively low correlation with other assets also makes them an excellent portfolio diversifier that can help reduce overall portfolio risk and increase returns. At $600 million, the Cincinnati Reds are ranked No. The way we think about it is that there are two things that increase prices for assetsrising cash flows and rising multiples. But you dont need to be Mr. Schwarzman to earn huge sums at Blackstone, arguably the industrys most successful firm. Among Kim's deals was the purchase of Strategic Hotels & Resorts, a portfolio of roughly 7,500 hotel rooms, in late 2015. While the former Goldman Sachs dealmaker grew up on the Jersey Shore and likes to spend weekends there, she calls Manhattan home. He joined Blackstone 10 years ago from Capital IQ with a goal of making its massive amount of proprietary real-estate and private-equity data more useful to investors. For investors looking for steady forms of yield, even with rates rising, we believe real estate is well positioned. 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. Boston New York City Houston Chicago Los Angeles Atlanta. 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. There are 28 other people named Frank Cohen on AllPeople. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. He is frequently referred to as "the Saatchi of the North", in reference to the more famous art dealer Charles Saatchi. All proxy statements are public filings made available to the general public by the SEC. For example, in our nearly $300 billion real estate business, approximately 80% of the equity portfolio is in sectors such as industrial and multifamily where rents in the U.S. are growing significantly in excess of the rate of inflation. Inflation is rising, and interest rates are going in the other direction. Today, BREIT is overweight residential and industrial because thats where we see great fundamentals. Kenneth M. Jacobs. Bonus range: $11,500 - $190,000. ESG is definitely a global theme. 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. Our Standards: The Thomson Reuters Trust Principles. If you look at BREITs portfolio, were overweight in sectors we think will continue to see great growth potential, and in geographies that have the highest amounts of population growth, new household formation, and job growth. Levine started his career at Blackstone after graduating from Northwestern University over 12 years ago. Source. "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.". Email. There is C.E.O. BlackRock Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. However, uncertainty looms given the changing conditions in the property sector and the broader economy. This report is not for commercial use. "Multifamily is one of those areas.". In early 2020, when the pandemic turned once bustling office buildings into ghost towns, many commercial-real-estate investors braced for big losses. I think weve also created a product and a platform with distinct competitive advantages. About 42% of its volume was for apartment properties in 2021. Email. Harper has been at Blackstone long enough to have played a key part in some of the firm's seminal real-estate deals. Regardless of the specifics of your case, get help from the personal injury attorneys at Nadrich & Cohen. Many of the earnings are is not traditional compensation, but it's money in their pockets nonetheless. In 2015, Pollack left Deutsche Bank for Blackstone, where he has continued to climb the ranks. He is a Senior Managing Director with Blackstone based in New York. 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. He is also the Chairman and CEO of Blackstone Real Estate Income Trust. Committee: House Education and the Workforce: Related Items: Data will display when it becomes available. 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 For one thing, of the top 15 executive payouts from 2015, 10 were in private equity. Coronavirus Tips Working and Protection, For its 2020 fiscal year, Blackstone Inc., listed the following executives on its annual proxy statement to the SEC. 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. She is also an investment-committee member for Blackstone Real Estate Advisors. See Photos. There are currently 19 investors in the team, according to the Cincinnati Reds' website. In her first year as CEO of the $5.3 billion public-debt firm Blackstone Mortgage Trust, Keenan is already battling one of the most volatile real-estate markets since her first investment-banking job at Lehman Brothers during the financial crisis. Blackstone Real Estate Income Trust, Inc. Judd A & Marjorie Weinberg College of Arts & Sciences. When large corporations disclose how much money their top executives make each year, the companies list salary, bonus and, in many cases, stock options or grants. (A full breakdown is below.) Black, 69, received $423,687 in compensation, $182.3 million in dividends from his Apollo shares and $2.5 million from his personal investments in the firms funds. For all the populist outrage that banks have faced over compensation, their executives make just a fraction of what private equity chiefs do. Lead Director. 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. Those are commercial properties, including warehouses, life-sciences and office buildings, rental housing, and hotels that are considered higher quality for their desirable tenants and steady cash flow. They then will be provided a fixed rate option to purchase the home they are renting at below market rates every year. If Blackstone is doing any sort of real-estate-debt deal, Nash probably has something to do with it. Frank Cohen, MPA . Gain knowledge on investment and development in tier-one countries, growing economies, and emerging markets around the world. Blackstone Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. And there will only be more focus going forward. Office demand has plummeted, but the firm believes it should still hold a major place in its book of business. 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. KKR & Co Inc co-founders and co-Chief Executives Henry Kravis and George Roberts collected at least $81.3 million and $85.4 million respectively, primarily from their holdings in the firm, a regulatory filing showed. Blackstone has been engaged with REITs, listed and non-listed, for many years. BREIT 3 All figures are approximate and as of March 31, 2020, unless otherwise indicated. 8 is Steve Cohen, the owner of the New York Mets baseball team. Rowans compensation as an Apollo co-founder and senior managing director was not reported. Well never be solely focused on one sector or another. Cash Compensation Other Fiscal Year Ended in 2021 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. Blackstone shattered its earnings records earlier this year and the firm can thank its booming real-estate business for that performance. It can add up to tens of millions of dollars. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. We are constantly looking into interesting trends and anticipating change. Phone. Ares Management, however, includes both the amount of personal capital invested and the profits made on those investments. 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. Johnson, who joined Blackstone in 2011, oversees all of Blackstone's investments in commercial- and residential-real-estate debt. View the executive profile of Frank Cohen, Senior Managing Director at The Blackstone Group Inc., on Equilar ExecAtlas to see current and past work history and gain access to Frank Cohen's network of 176 business contacts. Anyone can read what you share. 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. He also earned $253.1 million in compensation, most of it through incentive fees and his cut of . Nash, 61, is also the executive chair of Blackstone's Mortgage Trust REIT, the firm's publicly traded mortgage real-estate investment trust. ), 2023 eFinancialCareers - All rights reserved. Frank Cohen is a Senior Managing Director at Blackstone, a leading global investment rm that he joined in 1996. BREIT has recently closed a number of high-visibility transactions in sectors including single-family homes, data centers, and self-storage. Both are very stable asset classes. This is why The Times also asked Equilar to collect data from tech firms, since they, too, often have founders at the helm. Fresno, CA 93703. During the pandemic, BREIT intensified its focus on sectors of the economy that have become particularly robust, such as multifamily and warehouse properties. Carried interest is taxed at a long-term capital-gains rate that is roughly half the ordinary income rate for the nations highest earners. "The company that can connect the dots and paint the most complete picture wins.". 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. 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. Bloomberg News estimates the team is worth $680 million. Forbes in 2015 dubbed his group at that bank "Wall Street's largest underwriter of real estate debt." In the first half of 2022, it was -$914m. Through his influence on some of Blackstone's biggest deals and most lucrative asset classes, he has risen to become a cohead of acquisitions in the Americas for Blackstone real estate. "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.". Steven Cohen. Before joining Blackstone, Johnson cofounded a boutique commercial-real-estate finance company and worked at Lehman Brothers' commercial-real-estate group. Total Equityaggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. We are continuously looking at a lot of different sectors. Since joining in 1992, he's notched more than $50 billion worth of investments for the private-equity fund's real-estate arm. More data has been produced in the last two years than in all of human history before that time. Frank Cohen joined Blackstone Group in 1996. . Weve also brought in very senior ESG professionals to lead efforts at the firm. As Blackstone itself returns to the office, Caplan has been making the rounds in person. Take Blackstone's investment in the hotel giant Hilton Worldwide in 2007. Agarwal, a Blackstone company lifer, is focused on what may be one of the firm's biggest real-estate initiatives to date. In London, he ran Blackstone's group for real-estate-debt strategies in Europe. United States, District of Columbia, Washington. He has also been responsible for many of Blackstone's other office . 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. In 2018, the investment firm sold 15.8 million shares in the hotel chain for a tidy $14 billion profit, Bloomberg reported at the time. Nash told his alma mater, New York University's Stern School of Business, that this was the perfect time to strike in commercial real estate. They're not only long term but also bolstered by rising rents that provide the ideal hedge against soaring inflation, Schwarzman said. As a subscriber, you have 10 gift articles to give each month. 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. Hamid, a graduate of New York University, is a seasoned veteran of the multifamily space. With regards to todays REIT investors, some are more focused on ESG than others. In 2013, the biggest winner was Leon Black, the head of Apollo Global Management, who received about $543 million. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. In the case of Resource REIT, this was a public company owning approximately 12,000 apartments across 42 apartment communities. 2, took home at least $216.1 million in 2020, consisting of $123.2 million in compensation and $92.8 million in dividends from the companys shares he owns, the filing showed. Frank Cohen Chairman of the Board and Chief Executive Officer Frank Cohen has been Chairman of the Board and the Chief Executive Officer of the Company since July 2016. Frank Cohen Global Chairman of Core+ Real Estate Frank Cohen is the Global Chairman of Core+ Real Estate. We are committed to providing these families with an opportunity to initially rent a desirable home at a discounted rate thats 10% below the local market in most cases. 1-800-3-NAREIT As an example, European institutions are very focused on ESG but there are other parts of the world where maybe there is less focus. COHEN, FRANK SHORT HILLS, NJ 07078: Blackstone Real Estate/Blackstone Real Estate/Senior Managing Director: $50,000: 12/20/2019: P: UNITE THE COUNTRY: COHEN . 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. All rights reserved. Second, the executives invest in their firms own funds and get to keep their profits. 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. Blackstone President Jonathan Gray, Schwarzmans No. Just a few months later in 2016, he arranged for Blackstone to sell all but one of the hotel properties for $6.5 billion, which netted a quick $500 million profit. Kenneth A. Caplan is the Global Co-Head of Blackstone Real Estate. The charts on this page feature a breakdown of the total annual pay for the top executives at Blackstone Inc. as reported in their proxy statements. These apartments are located in the Southeast and the Southwestmarkets that are dynamically growing. Blackstone netted $4.1 billion from the deal, according to The Wall Street Journal. Frank Cohen of Blackstone In a statement to the Australian stock exchange, Dexus said that 90 percent of the portfolio is connected to the Sydney and Melbourne markets, which have been the strongest performing this year, with the assets primarily composed of traditional logistics facilities that are set to benefit from the growth of e-commerce. 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. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Strategic connections and expert insights into global investment markets Tackling geopolitical issues and harnessing real estate growth opportunities. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 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