However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 3003 N Blackstone Ave. Suite 206. Biotech is another critical area for the 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. A handful of recent transactions shows Blackstone's commitment to rental housing. Private equity firms note that, unlike banks, many of the top executives actually founded their firms. They often pocket money from a variety of additional sources that can total hundreds of millions of dollars a year. Frank Pilleri loses. Kim has arranged some of the fund's signature deals. The actual average hours worked per week at Blackstone Group based on our data is actually 67 hours, which . We have chosen to focus our practice exclusively in the . Frank Cohen (Frankiereds) See Photos. "We're always thinking about: Do we have the right leadership in place? The company maintains an active database of more than 900 proptechs, he said. They then will be provided a fixed rate option to purchase the home they are renting at below market rates every year. Direct. More data has been produced in the last two years than in all of human history before that time. 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). He also earned $125.5 million in executive compensation. No. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. As an example, European institutions are very focused on ESG but there are other parts of the world where maybe there is less focus. Rowans compensation as an Apollo co-founder and senior managing director was not reported. BREDS is now part of the structured-finance group. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. 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. His father, Fred H. Henritze, is a cofounder and the vice chair of the Brookdale Group, an Atlanta commercial-real-estate firm. Top executives at the publicly traded private equity firms get all that, and a whole lot more. Other prominent firms have produced big payouts as well. United States, District of Columbia, Washington. 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. Were focusing on ESG in many other ways too. Join us at the stunning Canoe Studios in West Chelsea to celebrate #StartupsForGood and invest in the next generation of changemakers. . "Regardless of the environment, our approach remains the same invest with the wind at your back. Still, the methodology treated each executive consistently and calculated the entirety of the payouts. Fitzpatrick has become something of a king maker in real-estate technology for his role in evaluating a constant flow of property-technology firms seeking Blackstone's approval. Before Blackstone, LePatner was an executive at Goldman Sachs for 11 years, rising to the role of chief operating officer of its real-estate investment group. CEO of Financial Advisory. This report is not for commercial use. "One signature of our culture is that we are highly connected, highly communicative," McCarthy said. Still, it has not altered Blackstone's investment thesis that much. 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. He is also the Chairman and CEO of Blackstone Real Estate Income Trust. E-commerce has been a huge tailwind for industrials, obviously. He has been Chairman of the Board of Directors and the Chief Executive Officer of Blackstone Real Estate Income Trust, Inc. since July 2016. For one thing, of the top 15 executive payouts from 2015, 10 were in private equity. Frank Cohen. Hamilton E. James, Blackstones president, received $233 million in 2015, while Blackstones real estate chief, Jonathan D. Gray, earned $249 million. Nash had a long career before Blackstone, working at Barclays Bank, Deloitte, and the Bank of Nova Scotia before spending a decade leading Merrill Lynch's real-estate principal investment group from 1997 to 2007. In June, he played a pivotal role in Blackstone's purchase of the apartment and hotel operator Extended Stay America and its acquisition of WoodSpring Suites. Most private equity executives sell their shares upon leaving their firms. Together with publicly available data, the proprietary information has also been key to staying ahead of trends. Frank Cohen. Blackstone shattered its earnings records earlier this year and the firm can thank its booming real-estate business for that performance. Today's environment, however, is more volatile. The top executives of private equity firms often earn a cut of these profits. "Then, I try to turn my focus to getting myself and my two daughters ready for our days and out the door," McCarthy said. Frank Cohen. 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. 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. Over the past five years, BREIT has amassed a $94 billion portfolio as of year-end 2021. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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 . 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. This is also the problem that Blackstone . Most recently, he played a key role in Blackstone's acquisitions of Equity Office Properties Trust, CarrAmerica Realty Corporation and Trizec Properties. She is also an investment-committee member for Blackstone Real Estate Advisors. Our goal from the start was to bring Blackstones institutional real estate platform to the individual investor so ultimately, the biggest success factor has been the performance we have produced for those investors. 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 . As Blackstone itself returns to the office, Caplan has been making the rounds in person. Roast my CV: Has dropping out ruined my chances in finance? (Reuters) - 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 year despite the impact of the COVID-19 pandemic, regulatory filings showed. Agarwal Wesley LePatner Chairman of the Board and Chief Executive Officer President and Director Chief Operating Officer and Director . 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. 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. See Photos. Well never be solely focused on one sector or another. 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. As a final undertaking, Equilar scanned its broader database of companies to search for the largest executive payouts from 2015. 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. United States Navy. Committee: House Education and the Workforce: Related Items: Data will display when it becomes available. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. In the last two years, Stephen A. Schwarzman, the chief executive and a co-founder of the. Before joining Blackstone, Johnson cofounded a boutique commercial-real-estate finance company and worked at Lehman Brothers' commercial-real-estate group. 2. Office demand has plummeted, but the firm believes it should still hold a major place in its book of business. So, acquiring Resource REIT is very much in line with our strategy and fits nicely into the portfolio as well. 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. BREIT has recently closed a number of high-visibility transactions in sectors including single-family homes, data centers, and self-storage. Robert Aderholt, R-Ala., has introduced House Resolution 3799, the Constitutional Restoration Act of 2004. Other proptechs that have appealed to Blackstone are the property-management-software provider Yardi and the lease-management-software company VTS. 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 . 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. Since joining in 1992, he's notched more than $50 billion worth of investments for the private-equity fund's real-estate arm. Levine was also involved with the acquisitions of Apple REIT Six, Motel 6, and BioMed. PAC consists of 44 multifamily communities largely across Atlanta; Nashville, Tennessee; Charlotte, North Carolina; and Orlando, Tampa, and Jacksonville in Florida as well as 54 grocery-anchored shopping centers and two Sun Belt office properties, an announcement from Blackstone said. "Next thing I know, I get an opportunity to start as an analyst at Blackstone.". 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. Blackstone owns about $116 billion worth of such assets, mostly through its $100 billion private-investment fund BREIT. 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. The Times then analyzed the data, which covered the period from 2012 to 2015, and verified Equilars findings with the firms themselves. He also earned $253.1 million in compensation, most of it through incentive fees and his cut of . How interested in ESG are REIT shareholders and what are some favorable outcomes BREIT has experienced managing your own ESG initiatives and benchmarks? Both are very stable asset classes. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. See Photos. Using the same method it used for private equity, Equilar collected data from the nations largest banks and the technology giants. ESG represents something that we continue to integrate across our portfolio in a lot of different ways. In the last two years, Stephen A. Schwarzman, the chief executive and a co-founder of the Blackstone Group, received the largest sum. Furthermore, The Times and Equilar focused on publicly traded companies with more than $1 billion in revenue. Agarwal, a Blackstone company lifer, is focused on what may be one of the firm's biggest real-estate initiatives to date. 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. Blackstone is currently in the process of expanding its EMEA operations under Farhad Karim. Blackstone Group pays an average salary of $95,000 per year. John C. 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. The group that Louis Nippert was part of bought the team from Bill DeWitt Sr., which paved the way for a two-sport facility to be built on the river and for the Cincinnati Bengals to join the National Football League. Forbes in 2015 dubbed his group at that bank "Wall Street's largest underwriter of real estate debt." Just How Much Do the Top Private Equity Earners Make? 1. He also helped spearhead Blackstone's acquisition of the 11,000 units inthe adjoining Manhattan apartment complexes Stuyvesant Town and Peter Cooper Village for nearly $5.5 billion. Frank Cohen Global Chairman of Core+ Real Estate Frank Cohen is the Global Chairman of Core+ Real Estate. Copyright 2023 Surperformance. 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. 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. With regards to todays REIT investors, some are more focused on ESG than others. ESG is definitely a global theme. Total Equityaggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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. "Nadeem's leadership in the initial deal was crucial in establishing the strong foundation we are building upon," Mark Lammas, the president of Hudson Pacific, wrote in an email to Insider. In the case of Resource REIT, this was a public company owning approximately 12,000 apartments across 42 apartment communities. 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. "The crisis created an unprecedented investment environment, which is all you can ever ask for as you launch a new business," he said. View the executive profile of Frank Cohen, Senior Managing Director at Blackstone Inc., on Equilar BoardEdge to see current and past work history and gain access to Frank Cohen's network of 190 business contacts. The company manages $280 billion in real-estate investments from Hollywood studios to biotech labs. Whats your perspective on how investors can use them to complement or hedge an investment portfolio over other fixed income products? Last year, we did the QTS Realty Trust deal, which was a large data center deal. Engineman. See Photos. Nash, 61, is also the executive chair of Blackstone's Mortgage Trust REIT, the firm's publicly traded mortgage real-estate investment trust. Hotels bring the mix up to 80%. New York, New York 10154. 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. Frank Cohen is Chairman & Chief Executive Officer of Blackstone Real Estate Income Trust, Inc. and Senior Managing Director & Global head at Blackstone Real Estate Advisors. All rights reserved. In 2020, he was paid $1.3 billion for his performance as a hedge fund manager, and with his other income streams . Our job as investors is to identify areas of growth and then overweight those areas and sectors. Businessman Bob Castellini remains the current principal owner of the Reds. September 2005 Frank Cohen is a Managing Director of The Blackstone Group. Blackstone has the largest real estate platform in the world with $326 billion in investor capital under management (as of December 31, 2022). "I'm making progress on that," he said. In November, he was named the global head of Blackstone's structured-finance group, a newly created unit that combines the firm's real-estate-debt business with its other asset-backed lending. Test Drive ZoomInfo's Directories Browse Directories. Frank Cohen. See Photos. The firm posted a net loss of $255m in the second quarter by virtue of the declining value of its private equity portfolio. And there will only be more focus going forward. Find thousands of jobs in financial services and technology by signing up to eFinancialCareers today. He is the Global Chairman of Core+ Real Estate. 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. Well find that these tenants will have very stable occupancy rates, so we get a good risk adjusted return overall. Scott D. Hoffman. Frank Cohen is a Senior Managing Director with the Blackstone Group based in New York. BREIT 3 All figures are approximate and as of March 31, 2020, unless otherwise indicated. 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. Investors Should Prioritize Listed Real Estate Market Over Private: LaSalle, Nareits REITwise: 2023 Law, Accounting and Finance Conference, A Conversation with Blackstones Frank Cohen on Opportunities in Real Estate and the Growth of BREIT. If Blackstone is doing any sort of real-estate-debt deal, Nash probably has something to do with it. He is also the Chairman and CEO of Blackstone Real Estate Income Trust. 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. 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. 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. 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