Phone. The information shown here is a reporting of information included in the company's proxy statement. One of the key aspects of its resilience is Blackstone's increased investments in logistics with the rise of Amazon and other e-commerce companies, a trend that has fundamentally altered the real-estate business, he said. For one thing, of the top 15 executive payouts from 2015, 10 were in private equity. Committee: House Education and the Workforce: Related Items: Data will display when it becomes available. 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. Find your friends on Facebook. Before joining Blackstone, he served as a managing director at the Praedium Group, a national real-estate investment firm. And since the executives are often huge holders of the stock, they collect dividends, or distributions on their partnership shares, on a quarterly basis. Frank Cohen, Blackstone's global head of Core+ Real Estate and chairman and CEO of Blackstone Real Estate Investment Trust, told Nareit the pandemic may have changed many things globally. "Generally speaking, our place in the world of real-estate finance has been filling in the gaps of what a traditional bank would do," Johnson, the global head of BREDS, told Insider in 2020. 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. With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. Mark Cohen of Cohen & Gressler said the legal team wanted until March 3 to file a proposal for additional bail conditions for Bankman-Fried and find a . Sr. Director,. Theres always going to be uncertainty and volatility. He has . Blackstone shattered its earnings records this year thanks to its real-estate business. Chief Administrative Officer and General Counsel. Eric's mailing address filed with the SEC is 200 BELLEVUE PARKWAY, SUITE 300, WILMINGTON, DE, 19809. https://www.nytimes.com/2016/12/10/business/dealbook/just-how-much-do-the-top-private-equity-earners-make.html, a former contributor to The New York Times. Whatsapp/Signal/Telegram also available (Telegram: @SarahButcher), Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. 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. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). 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. All proxy statements are public filings made available to the general public by the SEC. For us, this is an opportunity to make a great investment all the way around. Weve committed ourselves to diversifying the boards of directors for the different companies that we run. Blackstone Inc.annual reports of executive compensation and pay are most commonly found in the Def 14a documents. BREIT recently agreed to spend $1 billion to acquire single family homes and help address housing affordability challenges as part of its Choice Lease program in the U.S. What impact do you expect this to have on the current housing market? He graduated from Northwestern University with a bachelor's degree in political science and he also graduated from the Honors Program in Mathematical Methods in the Social Sciences. Weve definitely seen that trendline expand. "I think there will be a benefit in the broadening of our experiences the more things we see, the more we find opportunities, the more we learn about new areas where our capital can provide value on behalf of our investors," Pollack told the news and intelligence service, which is focused on real-estate finance. Blackstone Group pays an average salary of $95,000 per year. As a subscriber, you have 10 gift articles to give each month. You may also find the annual proxy statement by going directly to the company's website. "Multifamily is one of those areas.". So, acquiring Resource REIT is very much in line with our strategy and fits nicely into the portfolio as well. Since joining the firm, he's been involved in more than $100 billion of real-estate acquisitions and initiatives. The firm's real-estate division manages about $280 billion, with investments including warehouses, Hollywood studios, and biotech laboratories. We added a self-storage platform because it benefits from high tenant retention and low capital expenditure. Kenneth M. Jacobs. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. He is a graduate of the College of the Holy Cross. He is frequently referred to as "the Saatchi of the North", in reference to the more famous art dealer Charles Saatchi. 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. 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 . Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Meghji noted that studio tenants renewed and even expanded their leases on the lots during the pandemic, which illustrated their strong desire for space to produce content. "Alternative lenders are looking to fill a gap that has widened dramatically during the economic crisis due to banks carefully managing their balance sheets and shifting to lower risk property deals with more certain cash flow profiles," Matt Duncan, the head of debt advisory in Australasia for JLL, said in an article on JLL's website. Other proptechs that have appealed to Blackstone are the property-management-software provider Yardi and the lease-management-software company VTS. 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. 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. 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. 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. An executive can either take a direct cut of the so-called carry pool or earn those quarterly dividends or distributions that are largely composed of carried interest. 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). Were not building enough and especially not enough affordable housing. We see public real estate as unequivocally more attractive than private real estate today, LaSalle's Lisa Kaufman told Nareits REIT Report podcast. 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. Strategic connections and expert insights into global investment markets Tackling geopolitical issues and harnessing real estate growth opportunities. For all the populist outrage that banks have faced over compensation, their executives make just a fraction of what private equity chiefs do. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Asia Pacific; EMEA; Latin America; UK Solicitors; UK Bar; United States Steven Cohen. 8 is Steve Cohen, the owner of the New York Mets baseball team. Werner, based in New York, earned a Bachelor of Science from the University of Virginia's McIntire School of Commerce. 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. Henritze recalled telling his friend. 20 on a Forbes list of valuations for MLB teams. Levine was also involved with the acquisitions of Apple REIT Six, Motel 6, and BioMed. 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. 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. Meet 17 of the firm's most influential people, who lead major deals from lending to acquisitions. Robert Aderholt, R-Ala., has introduced House Resolution 3799, the Constitutional Restoration Act of 2004. Since joining Blackstone in 1996, Mr. Cohen has been involved in over $100 billion of real estate transactions. Contact:sbutcher@efinancialcareers.comin the first instance. In this free webinar, Frank Cohen, Six Sigma Black Belt, statistician and data analyst, will cover key analytical issues and metrics that can be used to create a working and efficient compensation model based on Work RVUs, including ways to spot gaming and gain buy-in from physicians on revenue accountability. Even as inflation and interest rates rise, Blackstone's leaders remain bullish on the vast portfolio they have expanded over the past two decades. Louise Nippert retained a minority interest in the club until she died in 2012. Chief Financial Officer. It is worth noting some limitations of the data. Of course, very few do. Many of the earnings are is not traditional compensation, but its money in their pockets nonetheless. Average owner income more than doubled after they engaged with DM. 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. And there will only be more focus going forward. When banks tightened their lending standards after the 2008 financial crisis, Blackstone stepped in, providing debt to institutional investors and real-estate developers who found it difficult to get financing otherwise. The team said in a. "Then, I try to turn my focus to getting myself and my two daughters ready for our days and out the door," McCarthy said. There is C.E.O. Do you know the neighborhoods I'm interested in? BREIT has paid 62 straight monthly dividends at roughly a 4% annual yield, much of which is tax deferred and classified as return of capital. The majority of the windfall stemmed from Schwarzmans 19.3% stake in Blackstone. 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.". Johnson, 42, was named the head of BREDS in November, succeeding Pollack, who was promoted to lead the newly created structured-finance group, which includes BREDS. New York, New York 10154. 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. During the pandemic, BREIT intensified its focus on sectors of the economy that have become particularly robust, such as multifamily and warehouse properties. Were focusing on ESG in many other ways too. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). About 42% of its volume was for apartment properties in 2021. Chairman and Chief Executive Officer. "I'm making progress on that," he said. Hamilton E. James, Blackstones president, received $233 million in 2015, while Blackstones real estate chief, Jonathan D. Gray, earned $249 million. 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. Cohen also is a director for EOP, CarrAmerica, TRZ Holdings and Blackstone's industrial venture affiliate. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Reporting by Chibuike Oguh in New York; Editing by Dan Grebler. 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. Ares Management, however, includes both the amount of personal capital invested and the profits made on those investments. Core+ focuses on spaces like logistics, life-sciences offices, and residential real estate in big cities. 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. BlackRock Inc. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. REITs invest in the majority of real estate property types, including offices, apartment buildings, warehouses, retail centers, medical facilities, data centers, cell towers, infrastructure and hotels. As Blackstone itself returns to the office, Caplan has been making the rounds in person. Paraquat herbicide exposure. In the last two years, Stephen A. Schwarzman, the chief executive and a co-founder of the. Green asset-backed securities (ABS) made . She's managed to make the adjustment without sacrificing the company's pipeline of deals. Kenneth A. Caplan is the Global Co-Head of Blackstone Real Estate. Using the same method it used for private equity, Equilar collected data from the nations largest banks and the technology giants. Communication is key in everything McCarthy does as a cohead of Blackstone's sprawling real-estate portfolio. The move to sell the stake in the Reds is part of a larger effort to sell assets owned by Nippert trusts. It can add up to tens of millions of dollars. ESG represents something that we continue to integrate across our portfolio in a lot of different ways. Our job as investors is to identify areas of growth and then overweight those areas and sectors. Blackstone netted $4.1 billion from the deal, according to The Wall Street Journal. 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 . ESG is definitely a global theme. Frank Cohen, senior managing director of Blackstone's real estate group, bought a minority interest in the team previously held by the Louise Dieterle Nippert Trust. You may also find the annual proxy statement by going directly to the company's website. 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 . 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. 2023 www.cincinnati.com. Blackstone is currently in the process of expanding its EMEA operations under Farhad Karim. At $600 million, the Cincinnati Reds are ranked No. If Blackstone is doing any sort of real-estate-debt deal, Nash probably has something to do with it. 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. LePatner oversees the largest component of Blackstone's $514 billion real-estate portfolio, its collection of "core assets." However, uncertainty looms given the changing conditions in the property sector and the broader economy. Owner income is 240,000 higher than MGMA average earnings. Harper helped perform diligence and provide financing for the acquisition of Hilton, which went public in 2013, he told the Commercial Observer in 2015. For its 2021 fiscal year, BlackRock Inc., listed the following board members on its annual proxy statement to the SEC. All rights reserved. He received an undergraduate degree from the University of Minnesota Duluth and an MBA from The Curtis L. Carlson School of Management. He is the Global Chairman of Core+ Real Estate. He works out of the New York City headquarters and plans to visit all of its global offices, particularly those in the Asia-Pacific region, this year. 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. However, the Wall Street Journal points out that this portfolio increased by 13.8% last year. These real estate companies have to meet a number of requirements to qualify as REITs. Meghji, 41, led the $1.65 billion deal. There, Trebilco, 38, worked closely with clients in the gaming and hospitality worlds. Blackstone President Jonathan Gray, Schwarzmans No. Frank Cohen is currently Chairman of the Board and Chief Executive Officer at Blackstone Real Estate Income Trust - View - Blackstone Real Estate Income Trust org chart Connect with 500+ global attendees and hear from 25+ industry experts. 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. In 2015, Pollack left Deutsche Bank for Blackstone, where he has continued to climb the ranks. Nareit's members are REITs and other businesses 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. Hamid, a graduate of New York University, is a seasoned veteran of the multifamily space. First, given that Equilar pulled data from the last few years, the study is intended as a snapshot, not a definitive accounting of net worth. Agarwal Wesley LePatner Chairman of the Board and Chief Executive Officer President and Director Chief Operating Officer and Director . 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. The issuance of residential mortgage-backed securities (RMBS) resumed in August, following a break in the previous two months. We really think of ourselves as active investors and portfolio managers in this regard, he says. Find thousands of jobs in financial services and technology by signing up to eFinancialCareers today. That's in large part because of Kim, BREIT's 43-year-old head of acquisitions and capital markets. Date: Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. 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. Weve done 11 deals of over $1 billion just in the last 12 months. These apartments are located in the Southeast and the Southwestmarkets that are dynamically growing. Address. The friend, a fellow University of Virginia alumnus, had mentioned over drinks that a first-year analyst went home for Easter break and "never came back" to Blackstone, Henritze said in a 2020 interview with Teague Hunter, the president and CEO of Hunter Hotel Advisors. Blackstone has the largest real estate platform in the world with $326 billion in investor capital under management (as of December 31, 2022). McCarthy starts her day early often before her children rise and reads emails that may have come in from Asia or Europe overnight and require her attention. His father, Fred H. Henritze, is a cofounder and the vice chair of the Brookdale Group, an Atlanta commercial-real-estate firm. The Cincinnati Reds' newest owner is a top official from a New York-based global private equity and advisory firm. Of that amount, only $350,000 was his annual salary. 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