Schwarzman, 74, received $86.4 million in compensation and $524.1 million in dividends from his Blackstone shares, a regulatory filing showed on Friday. What impact might rising interest rates and inflation have? Frank Cohen (Frankiereds) See Photos. Her process, he said, reminded him of his own. Carter Randolph, manager of the Louise Dieterle Nippert Trust, told The Enquirer in June that a Los Angeles-based investment banking firm was hired to help sell the trust's minority stake in the Cincinnati Reds. A guru of CMBS, or commercial mortgage-backed securities, Pollack was a key figure in financing hotel brands from Hilton to Motel 6 and New York City office skyscrapers including Worldwide Plaza, 300 Park Ave., and 1515 Broadway. Contact:sbutcher@efinancialcareers.comin the first instance. 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 . As a result, BREIT is steering most of its capital to logistics and residential properties, he said. Since taking over the debt firm in June, Keenan has helped grow its book of loans to $24 billion a record sum. 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. On 9 February, 2007, it paid $39B for the listed company, using $32B of debt. The publicly traded Carlyle Group, for example, no longer discloses this information. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Together with publicly available data, the proprietary information has also been key to staying ahead of trends. 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. Its very clear there are issues in this country with housing. Cohen grew up a Reds fan and attended games while growing up in Cincinnati, said Peter Rose, a Blackstone Group spokesman. He received an undergraduate degree from the University of Minnesota Duluth and an MBA from The Curtis L. Carlson School of Management. Harper helped perform diligence and provide financing for the acquisition of Hilton, which went public in 2013, he told the Commercial Observer in 2015. BlackRock Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 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. He is a Senior Managing Director with Blackstone based in New York. Its operations have continued to grow throughout the pandemic, both by head count and by the size of its funds, according to interviews with the investment firm's leaders. Communication is key in everything McCarthy does as a cohead of Blackstone's sprawling real-estate portfolio. 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. Today's environment, however, is more volatile. 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. Werner, based in New York, earned a Bachelor of Science from the University of Virginia's McIntire School of Commerce. 1-202-739-9401 (fax). Pollack eventually became the global head of Deutsche Bank's commercial-real-estate business, overseeing a division that doled out billions to high-powered developers including Donald Trump. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. So far, only one of the trust's roughly 200 loansis non-performing, she said. Biotech is another critical area for the firm. Source. Frank Tang - The South China Morning Post . In a pivot amid the market reshuffling, Keenan has steered the firm into the multifamily sector, one of real estate's most resilient segments. . There, he played a major role in the development of the commercial mortgage-bond market. BREIT has recently closed a number of high-visibility transactions in sectors including single-family homes, data centers, and self-storage. 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. With regards to todays REIT investors, some are more focused on ESG than others. The following month, Blackstone announced another deal to buy Resource REIT, which owns more than 12,600 apartments across the country, for $3.7 billion. His net worth is currently pegged by Forbes at $22.3 billion. Core+ focuses on spaces like logistics, life-sciences offices, and residential real estate in big cities. Frank Cohen A.J. Blackstone has the largest real estate platform in the world with $326 billion in investor capital under management (as of December 31, 2022). National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). I think weve also created a product and a platform with distinct competitive advantages. We really think of ourselves as active investors and portfolio managers in this regard, he says. Frank Cohen Global Chairman of Core+ Real Estate Frank Cohen is the Global Chairman of Core+ Real Estate. These apartments are located in the Southeast and the Southwestmarkets that are dynamically growing. For one thing, of the top 15 executive payouts from 2015, 10 were in private equity. "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.". An associated email addresses for Frank Cohen are life***@ole.com , dan***@usa.com and more. 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. 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. Nadrich & Cohen Accident Injury Lawyers. 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. (A full breakdown is below.) 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 . 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. 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. 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. In September, Blackstone sold its stake in The Cosmopolitan, a resort and casino on the Las Vegas Strip that the money manager acquired in 2014 for $5.65 billion. She heads into Blackstone's office, typically by 8:30 a.m., and dives into a day of meetings and phone calls with investors and internal staff members. 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. All told, the 33-year-old Levine has been involved in over $100 billion worth of real-estate transactions since 2010. He has . And over the past 11 years, she said investors had sought higher returns in the real-estate industry during a low-interest-rate and low-inflation environment. Copyright 2023 Surperformance. Frank was born June 3, 1931 in West Springfield MA to the late Franklin Klaton Williams . 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. Frank Cohen joined Blackstone Group in 1996. Direct. It is worth noting some limitations of the data. For example, an . As a subscriber, you have 10 gift articles to give each month. In the first half of 2021 this was $2.2bn. The Times then analyzed the data, which covered the period from 2012 to 2015, and verified Equilars findings with the firms themselves. It's not easy to get a job at Blackstone. 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). 8 is Steve Cohen, the owner of the New York Mets baseball team. He let her build the car by herself. . Most private equity executives sell their shares upon leaving their firms. Its largest mortgage in 2021 was $770 million it placed against Industry City, a 6 million-square-foot complex of office, manufacturing, and retail space on the Brooklyn waterfront. There is no doubt that more people are focused on ESG and working towards strong, positive ESG outcomes across portfolios. Inflation is rising, and interest rates are going in the other direction. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. In this capacity . Asia Pacific; EMEA; Latin America; UK Solicitors; UK Bar; United States Caplan, 48, has worked at Blackstone since 1997. Then there is private equity C.E.O. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. One of the things that we have tried to do at Blackstone is focus on very large and complex transactions, which at times can be public company transactions. Bloomberg News estimates the team is worth $680 million. 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. Theres always going to be uncertainty and volatility. 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. Furthermore, The Times and Equilar focused on publicly traded companies with more than $1 billion in revenue. What's Mr Cohen's mailing address? Washington, D.C-based Carlyle Group Inc has not yet filed regulatory reports containing information on the compensation and dividends of its chief executive, Kewsong Lee, and its founders David Rubenstein, William Conway and Daniel DAniello. 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. 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. Green asset-backed securities (ABS) made . His father, Fred H. Henritze, is a cofounder and the vice chair of the Brookdale Group, an Atlanta commercial-real-estate firm. The move proved doubly prescient, as demand for content among homebound Americans skyrocketed during the pandemic. 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. Blackstone Real Estate Income Trust, Inc (BREIT), a REIT managed by the worldwide real estate investment firm Blackstone, has struck a deal to purchase the Simply Self Storage portfolio for an estimated $1.2 billion. Instead, he is in charge of Blackstone's technology needs and participates in the firm's venture-capital-style investments. 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. Henritze recalled telling his friend. Our Standards: The Thomson Reuters Trust Principles. 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. As such, a private equity executive not captured within this data may make even more. 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. In 2015, he collected just under $800 million, up from $689 million the year before. 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. 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. We see this program as providing an opportunity to drive value for our investors through meeting a community need. In 2013, the biggest winner was Leon Black, the head of Apollo Global Management, who received about $543 million. The private equity firms argue that their executives could retire to a beach and earn these same dividends. The timing of Blackstone 's purchase of Equity Office Properties could hardly have been worse. "The company that can connect the dots and paint the most complete picture wins.". 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. 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. It almost doubled Blackstone's square footage in its Link Logistics warehouse platform, which Levine helped create earlier in 2019. Anyone can read what you share. These are the characteristics of real estate investment. There is no doubt that more people are focused on ESG and working towards strong, positive ESG outcomes across portfolios. And since the executives are often huge holders of the stock, they collect dividends, or distributions on their partnership shares, on a quarterly basis. As a final undertaking, Equilar scanned its broader database of companies to search for the largest executive payouts from 2015. All proxy statements are public filings made available to the general public by the SEC. 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. (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. He is a graduate of the College of the Holy Cross. Blackstone's $1.5 billion purchase of WoodSpring Suites with Starwood Capital Group which followed the duo's $6 billion purchase of Extended Stay America from less than a year earlier captured the trend of more people working remotely from long-term accommodation properties during the pandemic. There are currently 19 investors in the team, according to the Cincinnati Reds' website. The real-estate deal marks one of many signature deals the 39-year-old Werner has been involved in since joining Blackstone in 2005, including BioMed Realty, Pure Industrial, Home Partners of America, and Education Realty Trust. "Multifamily is one of those areas.". Were not building enough and especially not enough affordable housing. "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. We added a self-storage platform because it benefits from high tenant retention and low capital expenditure. Frank Cohen is the Global Chairman of Core+ Real Estate. Over the past five years, BREIT has amassed a $94 billion portfolio as of year-end 2021. 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. 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. 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! Lead Director. Read more. Test Drive ZoomInfo's Directories Browse Directories. Frank Cohen. Blackstone announced its second quarter results today. Mark Zuckerberg of Facebook was paid a salary of $1 last year and received personal security and aircraft perks valued at around $5 million. Cohen is a director for Equity Office Properties Trust, CarrAmerica Realty Corp., TRZ Holdings and Blackstone's industrial venture affiliate, as well as on the Kellogg Real Estate Advisory Board at Northwestern University. Kim has arranged some of the fund's signature deals. BREDS is now part of the structured-finance group. 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. Blackstone Inc. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. See here for a complete list of exchanges and delays. Frank Cohen. 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.
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