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. 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. Frank Cohen bought the share. We are thematic investors so were always looking for areas of outsized potential and trying to really draw on the proprietary information that we have within our own portfolio. Raymond J. Beier is on the board of Blackstone Real Estate Income Trust, Inc. 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. 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. You may also find the annual proxy statement by going directly to the company's website. 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. Frank Cohen Age : 49 Public asset : 12 USD Linked companies : Tricon Residential Inc. Summary 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. 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. Today's environment, however, is more volatile. Coronavirus Tips Working and Protection, For its 2021 fiscal year, BlackRock Inc., listed the following executives on its annual proxy statement to the SEC. 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. He also earned $253.1 million in compensation, most of it through incentive fees and his cut of . The Times based that conclusion on a number of findings. They often pocket money from a variety of additional sources that can total hundreds of millions of dollars a year. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Peter R. Orszag. Trebilco has come a long way quite literally. Blackstone announced its second quarter results today. Frank Cohen joined Blackstone Group in 1996. 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. 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. Well never be solely focused on one sector or another. He told Insider that about 70% of Blackstone's real-estate portfolio consisted of three themes: logistics, residential, and life sciences. Blackstone has the largest real estate platform in the world with $326 billion in investor capital under management (as of December 31, 2022). 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. . 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 "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. 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. The listed REIT market, though, can be used tactically to add or subtract exposure to specific sectors on a total basis. "Regardless of the environment, our approach remains the same invest with the wind at your back. He has been Chairman of the Board of Directors and the Chief Executive Officer of Blackstone Real Estate Income Trust, Inc. since July 2016. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. 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. Henritze recalled telling his friend. 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. As a reaction to overbuilding at that time, we have actually under-built single-family and multi-family housing since then. Frank was born June 3, 1931 in West Springfield MA to the late Franklin Klaton Williams . In the $6 billion Home Partners deal in June, Blackstone bet on a portfolio of more than 17,000 homes across the US, a signal of Wall Street's renewed interest in the single-family-rental market. 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. Have a confidential story, tip, or comment youd like to share? 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. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Cohen also is a director for EOP, CarrAmerica, TRZ Holdings and Blackstone's industrial venture affiliate. 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. 1. Meghji, 41, led the $1.65 billion deal. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. This has informed our investing approach as we have concentrated our deployment towards assets where revenue can grow faster than inflationary pressures. A handful of recent transactions shows Blackstone's commitment to rental housing. "There is also more opportunistic lending to be done in places that have seen temporary disruptions but have good long-term fundamentals, such as urban apartments and high-quality, new-build office," Johnson told the Observer. Blackstone owns about $116 billion worth of such assets, mostly through its $100 billion private-investment fund BREIT. It's not easy to get a job at Blackstone.. Blackstone announced its second quarter results today. In the case of Resource REIT, this was a public company owning approximately 12,000 apartments across 42 apartment communities. He joined Blackstone in 2008. Take Blackstone's investment in the hotel giant Hilton Worldwide in 2007. Frank Cohen, MPA . His net worth is pegged at $8.5 billion, according to Forbes. This report is not for commercial use. 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. The firm Park Lane specializes in helping to sell sports franchises. As investors and as corporate citizens, were very focused on ESG as well. 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. Blackstone's generosity seems at odds with other aspects of its results. Chairman and Chief Executive Officer. She won the race. There, Trebilco, 38, worked closely with clients in the gaming and hospitality worlds. He's since been involved in more than $100 billion in real-estate investments and serves as the head of strategic investment for Blackstone Real Estate Americas. More data has been produced in the last two years than in all of human history before that time. Personal. Blackstone Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Since joining Blackstone in 1996, Mr. Cohen has been involved in over $100 billion of real estate transactions. 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. 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 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. 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. 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. He is frequently referred to as "the Saatchi of the North", in reference to the more famous art dealer Charles Saatchi. As a culture, we will continue to need data centers to store all of the information in our devices, and QTS is a high-quality data center company. Mary Ann Betsch. Most private equity executives sell their shares upon leaving their firms. As such, a private equity executive not captured within this data may make even more. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 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. At $600 million, the Cincinnati Reds are ranked No. The ultimate goal of the program is to expand access to high quality housing for lower- and middle-income individuals and families with less savings and/or lower credit scores. BREIT has recently closed a number of high-visibility transactions in sectors including single-family homes, data centers, and self-storage. For one thing, of the top 15 executive payouts from 2015, 10 were in private equity. 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. Direct. 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. Just How Much Do the Top Private Equity Earners Make? "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.". 8 is Steve Cohen, the owner of the New York Mets baseball team. 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). For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Weve expanded the way that we recruit talent at the firm to be inclusive and diverse. The way we think about it is that there are two things that increase prices for assetsrising cash flows and rising multiples. 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. Of that amount, only $350,000 was his annual salary. Two days earlier, HSBC. 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. Blackstone doesn't disclose how many people it employs on a quarterly basis, but it's understood to have nearly 4,000 people. Frank Pilleri loses. CSI Gala 2017 - Splash - The Centre for Social Innovation (CSI) is a not-for-profit coworking space, community and launchpad for social entrepreneurs who are changing the world. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. We added a self-storage platform because it benefits from high tenant retention and low capital expenditure. Since joining Blackstone in 1996, Mr. Cohen has been involved in over $60 billion of real estate investments. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Frank Cohen. Contact info: cohen@blackstone.com, cohenf@blackstone.com, fcohen@blackstone.com Find more info on AllPeople about Frank Cohen and The Blackstone Group L.P., as well as people who work for similar businesses nearby, colleagues for other branches, and more people with a similar name. Her process, he said, reminded him of his own. This report is not for commercial use. Average owner income more than doubled after they engaged with DM. she said. 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. Chief Administrative Officer and General Counsel. 20 on a Forbes list of valuations for MLB teams. Engineman. She's managed to make the adjustment without sacrificing the company's pipeline of deals. "We're always thinking about: Do we have the right leadership in place? 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). As a subscriber, you have 10 gift articles to give each month. Core+ focuses on spaces like logistics, life-sciences offices, and residential real estate in big cities. Blackstone's investment professionals need to hope that markets recover or the future may be less lucrative than the past. Before joining Blackstone's real-estate group, he was an analyst in the firm's restructuring and reorganization group. BLACKSTONE - Roger L. Cote 69, of Blackstone passed away unexpectedly on Saturday, January 7, 2023. . BREIT 3 All figures are approximate and as of March 31, 2020, unless otherwise indicated. Top executives at the publicly traded private equity firms get all that, and a whole lot more. Were really focused on large, complicated deals where theres less competition involved. The firm posted a net loss of $255m in the second quarter by virtue of the declining value of its private equity portfolio. His net worth is currently pegged by Forbes at $22.3 billion. Rowans compensation as an Apollo co-founder and senior managing director was not reported. 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. Communication is key in everything McCarthy does as a cohead of Blackstone's sprawling real-estate portfolio. They reveal that the compensation spending in the form of salaries, bonuses, and realized carried interest (profits shared between investment employees after the successful exit of investments) increased 94% in the first half of 2022, to nearly $3.2bn across the firm. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. If there were any missteps over the past five years, what were they and what did you learn from those experiences? And since the executives are often huge holders of the stock, they collect dividends, or distributions on their partnership shares, on a quarterly basis. 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. 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. Mark Zuckerberg of Facebook was paid a salary of $1 last year and received personal security and aircraft perks valued at around $5 million. Blackstone played a similarly vital role when the COVID-19 pandemic struck. Harper helped perform diligence and provide financing for the acquisition of Hilton, which went public in 2013, he told the Commercial Observer in 2015. Available 24/7. Pollack established himself as a star in real-estate finance during his 16-year tenure at Deutsche Bank. Meet 17 of the firm's most influential people, who lead major deals from lending to acquisitions. 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. Blackstone Real Estate Income Trust, Inc. Judd A & Marjorie Weinberg College of Arts & Sciences. Robert Aderholt, R-Ala., has introduced House Resolution 3799, the Constitutional Restoration Act of 2004. 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. "Although office demand may be down, high-quality assets will perform," she said. He now sits on the Real Estate Advisory Council at the university's Kellogg School of Management. Some hedge fund executives, for example, routinely take home $1 billion or more annually, according to some published estimates, but these firms are not publicly traded. All rights reserved. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Caplan is responsible for assessing new investment opportunities and managing existing ones in the firm's real-estate division. 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. Connect with 500+ global attendees and hear from 25+ industry experts. United States, District of Columbia, Washington. 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. 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. Ares Management, however, includes both the amount of personal capital invested and the profits made on those investments. 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. 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. Since joining Blackstone in 1996, Mr. Cohen has played an integral role in the growth of the real estate business. Frank Cohen, Blackstone's global head of core-plus real estate, said: "The transaction significantly increases our Asian core-plus real estate exposure to the logistics space, and is consistent with our strategy of overweighting high-conviction sectors and locations." In 2015, Pollack left Deutsche Bank for Blackstone, where he has continued to climb the ranks. 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