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. In 2020, he was paid $1.3 billion for his performance as a hedge fund manager, and with his other income streams . Theres always going to be uncertainty and volatility. As an example, European institutions are very focused on ESG but there are other parts of the world where maybe there is less focus. BlackRock Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Since joining Blackstone in 1996, Mr. Cohen has played an integral role in the growth of the real estate business. 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. Caplan is responsible for assessing new investment opportunities and managing existing ones in the firm's real-estate division. Blackstone doesn't disclose how many people it employs on a quarterly basis, but it's understood to have nearly 4,000 people. 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. 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 Weve also brought in very senior ESG professionals to lead efforts at the firm. The timing of Blackstone 's purchase of Equity Office Properties could hardly have been worse. In the last two years, Stephen A. Schwarzman, the chief executive and a co-founder of the. Frank Cohen - $79,200 in Political Contributions for 2020, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions . However, the Wall Street Journal points out that this portfolio increased by 13.8% last year. There is C.E.O. 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. she said. 1-202-739-9400 People named Frank Cohen. Our job is to always be looking at where we see avenues of growth and then overweight those avenues. Frank Cohen Award-winning journalist, experienced editor, food & wine writer, restaurant critic, restaurant consultant, fine wine sales specialist Hamden, CT CT Dish, +13 more Cornell University,. Total Equityaggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. It almost doubled Blackstone's square footage in its Link Logistics warehouse platform, which Levine helped create earlier in 2019. Blackstone President Jonathan Gray, Schwarzmans No. 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. Well find that these tenants will have very stable occupancy rates, so we get a good risk adjusted return overall. Peter R. Orszag. 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. From every other industry tracked by Equilar, there were only five executives who reached such heights. In total, Frank Cohen has made about 3 transactions over 3 years of their time at Blackstone Real Estate Income Trust, Inc. Frank Cohen usually trades in January, February and August,. 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. We are trying to make 90% of our portfolio green building certified. Analysis-Wood's ARK slammed by higher interest . Hotels bring the mix up to 80%. They then will be provided a fixed rate option to purchase the home they are renting at below market rates every year. 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. As investors and as corporate citizens, were very focused on ESG as well. Copyright Nareit 2023. Mary Ann Betsch. Still, the methodology treated each executive consistently and calculated the entirety of the payouts. Office demand has plummeted, but the firm believes it should still hold a major place in its book of business. Indeed, Lawrence J. Ellison, the co-founder, executive chairman and former chief executive of Oracle, collected the second largest payout in the joint study. 1. These are the characteristics of real estate investment. 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. The Cincinnati Reds' newest owner is a top official from a New York-based global private equity and advisory firm. 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. 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. And yet, over all, the payouts to tech executives are still far short of those in private equity. The investment is expected to close in late August or early September, subject to receipt of TSX approval. 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. Committee: House Education and the Workforce: Related Items: Data will display when it becomes available. So far, only one of the trust's roughly 200 loansis non-performing, she said. 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. 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. Blackstone shattered its earnings records earlier this year and the firm can thank its booming real-estate business for that performance. Frank Cohen. In December, Blackstone announced a $3.6 billion deal to acquire Bluerock Residential Growth REIT, a real-estate investment trust that owns about 11,000 apartment units in Sun Belt states like Georgia, Florida, and Texas. CEO of Financial Advisory. 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. Address. "We've been investing for several years in life-science office buildings where these companies do their work and have their labs," Caplan said. 1. On 9 February, 2007, it paid $39B for the listed company, using $32B of debt. "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. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Fresno, CA 93703. But you dont need to be Mr. Schwarzman to earn huge sums at Blackstone, arguably the industrys most successful firm. 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. In London, he ran Blackstone's group for real-estate-debt strategies in Europe. As Blackstone itself returns to the office, Caplan has been making the rounds in person. She won the race. Base range: $60,000 - $175,000. Frank Cohen A.J. 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. Nash, 61, is also the executive chair of Blackstone's Mortgage Trust REIT, the firm's publicly traded mortgage real-estate investment trust. The Blackstone Group Inc. is providing the disclosure contained in this Current Report on Form 8-K to reflect the completion of its conversion (the "Conversion") from a Delaware limited partnership named The Blackstone Group L.P. (the "Partnership") to a Delaware corporation named The Blackstone Group Inc. (the "Corporation") effective at 12:01 a.m. (Eastern . We are currently several million units shy of where we need to be. Median pay among the top-ranking private equity executives in the joint study was $138 million in 2015; for bankers, that number was $23 million. Sr. Director,. All rights reserved. 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. As a final undertaking, Equilar scanned its broader database of companies to search for the largest executive payouts from 2015. He has also been responsible for many of Blackstone's other office . - Thursday, June 1, 2017 In this capacity . Our job as investors is to identify areas of growth and then overweight those areas and sectors. A Recent Survey of Our Private Practice Clients Revealed the Following Statistics. Businessman Bob Castellini remains the current principal owner of the Reds. Both are very stable asset classes. All told, the 33-year-old Levine has been involved in over $100 billion worth of real-estate transactions since 2010. CALL NOW: (559) 241-0411. He co-oversees US real estate investments and is a member of the firm's real estate investment committee. (A full breakdown is below.) 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. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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. And there will only be more focus going forward. 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. And so, I think when you bring BREITs proprietary advantages together with Blackstones global institutional platform, this really resonates with our investors. "It's about pattern recognition," Fitzpatrick, 39, told Insider. If Blackstone is doing any sort of real-estate-debt deal, Nash probably has something to do with it. Frank Cohen has been chairman and the CEO of BREIT since July 2016. In the first half of 2022, it was -$914m. Do you know the neighborhoods I'm interested in? 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. 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. 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.". 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. 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 . But the absorption of GSO wasn't . "The crisis created an unprecedented investment environment, which is all you can ever ask for as you launch a new business," he said. As the leader of that group, the 45-year-old Pollack oversees Blackstone's debt investments across a wide variety of sectors beyond but including real estate, including consumer finance and transportation. This goes back to the global financial crisis in the late 2000s. For its 2021 fiscal year, BlackRock Inc., listed the following CEO pay ratio data on its annual proxy statement to the SEC. 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. In 2015, he collected just under $800 million, up from $689 million the year before. Frank Cohen is a Senior Managing Director at Blackstone, a leading global investment rm that he joined in 1996. See Photos. BREDS is now part of the structured-finance group. In Agarwal, Blackstone has tapped one of its most experienced operators to craft its Core+ efforts. In private equity alone, there were eight executives who reaped more than $100 million. The majority of the windfall stemmed from Schwarzmans 19.3% stake in Blackstone. "When we faced challenges, Nadeem provided helpful creative solutions to advance the transaction.". 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. Acquiring an ownership stake is a way Cohen is "keeping a connection to his hometown and the team he roots for," Rose said. Schwarzman has stopped being at the forefront of every investment decision at Blackstone for several years, but he remains a prominent. 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. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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. Read more. 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. Coronavirus Tips Working and Protection, For its 2020 fiscal year, Blackstone Inc., listed the following executives on its annual proxy statement to the SEC. Roast my CV: Has dropping out ruined my chances in finance? To determine just how much money private equity titans receive, The New York Times asked Equilar, a board and executive data provider, to compile information from the six largest publicly traded private equity firms. There are 28 other people named Frank Cohen on AllPeople. Frank Cohen Global Chairman of Core+ Real Estate Frank Cohen is the Global Chairman of Core+ Real Estate. Fitzpatrick has a background in software engineering, which may reflect the technical know-how that runs in his family. 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. Harper, 44, joined Blackstone in 2002, and in that time, he completed stints with the firm in Los Angeles and London. 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. Mr. Frank Cohen serves as Senior Managing Director, Real Estate & Global Head of Core+ Real Estate at Blackstone. 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. "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. See Photos. 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. Meghji, 41, led the $1.65 billion deal. 2. These real estate companies have to meet a number of requirements to qualify as REITs. Other prominent firms have produced big payouts as well. Our Standards: The Thomson Reuters Trust Principles. Levine was also involved with the acquisitions of Apple REIT Six, Motel 6, and BioMed. Most recently, he played a key role in Blackstone's acquisitions of Equity Office Properties Trust, CarrAmerica Realty Corporation and Trizec Properties. REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. Today, BREIT is overweight residential and industrial because thats where we see great fundamentals. Blackstone Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Blackstone netted $4.1 billion from the deal, according to The Wall Street Journal. So, acquiring Resource REIT is very much in line with our strategy and fits nicely into the portfolio as well. Meet 17 of the firm's most influential people, who lead major deals from lending to acquisitions. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. We see this program as providing an opportunity to drive value for our investors through meeting a community need. He also earned $253.1 million in compensation, most of it through incentive fees and his cut of . Robert Aderholt, R-Ala., has introduced House Resolution 3799, the Constitutional Restoration Act of 2004. 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. Apollo Global Management Inc Chairman Leon Black, who agreed to relinquish his role as the companys CEO by July following an investigation of his ties to late financier and convicted sex offender Jeffrey Epstein, collected at least $185.2 million in 2020, another regulatory filing showed. This base compensation is the equivalent of $48 per hour assuming a 40 hour work week (2,000 hours per year). A leading contributor to addressing some of the biggest issues facing the world today - such as energy transition, accelerating the adoption of new technologies, and social impact - where innovative approaches to investing can make a positive difference. He received no bonus. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. 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. 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. Still, it has not altered Blackstone's investment thesis that much. He grew up in Cincinnati and went to Northwestern University. Blackstone Inc.annual reports of executive compensation and pay are most commonly found in the Def 14a documents. He is frequently referred to as "the Saatchi of the North", in reference to the more famous art dealer Charles Saatchi. The firm has also been sinking its investor capital a pool it's diversified through smaller investors into a biotech hub in Colorado and the owner of 44 multifamily communities and about 12,000 housing units in the Southeast. It's not easy to get a job at Blackstone. 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. Similarly, of the thousands of private equity firms that exist, only a half dozen or so are publicly traded. And do we have the right team supporting them?" In February, Werner, a cohead of Americas acquisitions for Blackstone Real Estate, led a $5.8 billion deal in which Blackstone Real Estate Income Trust acquired Preferred Apartment Communities. "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. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Instead, he is in charge of Blackstone's technology needs and participates in the firm's venture-capital-style investments. He told Insider that about 70% of Blackstone's real-estate portfolio consisted of three themes: logistics, residential, and life sciences. 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. "I'm making progress on that," he said. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Log in or sign up for Facebook to connect with friends, family and people you know. Communication is key in everything McCarthy does as a cohead of Blackstone's sprawling real-estate portfolio. He is also the Chairman and CEO of Blackstone Real Estate Income Trust. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. ESG is definitely a global theme. See Photos. The publicly traded Carlyle Group, for example, no longer discloses this information. 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. Last year, we did the QTS Realty Trust deal, which was a large data center deal. Schwarzman, 74, received $86.4 million in compensation and $524.1 million in dividends from his Blackstone shares, a regulatory filing showed on Friday. 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