Many of the earnings are is not traditional compensation, but its money in their pockets nonetheless. Coronavirus Tips Working and Protection, For its 2021 fiscal year, BlackRock Inc., listed the following executives on its annual proxy statement to the SEC. Gain knowledge on investment and development in tier-one countries, growing economies, and emerging markets around the world. In 2015, he collected just under $800 million, up from $689 million the year before. This base compensation is the equivalent of $48 per hour assuming a 40 hour work week (2,000 hours per year). . 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. 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. 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. E-commerce has been a huge tailwind for industrials, obviously. 2019-05-08 ($3.1 BB Offered, $3.1 BB Sold) Fund. 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. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Before joining Blackstone's real-estate group, he was an analyst in the firm's restructuring and reorganization group. Theres always going to be uncertainty and volatility. And so, I think when you bring BREITs proprietary advantages together with Blackstones global institutional platform, this really resonates with our investors. Hamilton E. James, Blackstones president, received $233 million in 2015, while Blackstones real estate chief, Jonathan D. Gray, earned $249 million. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. In terms of listed REITs, the share price is not always reflective of the underlying real estate value. "Everyone has a good pitch, but the real question is how valuable and developed the solution is," Fitzpatrick said. These apartments are located in the Southeast and the Southwestmarkets that are dynamically growing. We believe being a good corporate citizen is central to that mission. Other prominent firms have produced big payouts as well. 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 a Senior Managing Director with Blackstone based in New York. While the former Goldman Sachs dealmaker grew up on the Jersey Shore and likes to spend weekends there, she calls Manhattan home. Frank Cohen Chairman of the Board and Chief Executive Officer Frank Cohen has been Chairman of the Board and the Chief Executive Officer of the Company since July 2016. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Caplan is responsible for assessing new investment opportunities and managing existing ones in the firm's real-estate division. 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. Two days earlier, HSBC. Cohen also is a director for EOP, CarrAmerica, TRZ Holdings and Blackstone's industrial venture affiliate. "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. But the absorption of GSO wasn't . ), 2023 eFinancialCareers - All rights reserved. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. As such, a private equity executive not captured within this data may make even more. All rights reserved. And there will only be more focus going forward. Committee: House Education and the Workforce: Related Items: Data will display when it becomes available. Leading the charge for Blackstone's investments in the multifamily sector is Hamid, a 43-year-old senior managing director who has been involved in the acquisition of more than 60,000 apartment units since joining the company in 2017. Henritze recalled telling his friend. The Cincinnati Reds' newest owner is a top official from a New York-based global private equity and advisory firm. People named Frank Cohen. A Recent Survey of Our Private Practice Clients Revealed the Following Statistics. 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. And there will only be more focus going forward. So, acquiring Resource REIT is very much in line with our strategy and fits nicely into the portfolio as well. Harper helped perform diligence and provide financing for the acquisition of Hilton, which went public in 2013, he told the Commercial Observer in 2015. Insiders trading at Interdigital Inc. Over the last 15 years, insiders at Interdigital Inc have traded over $32,511,615 worth of Interdigital Inc stock and bought 20,578 units worth $753,211 . BlackRock Inc. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Well find that these tenants will have very stable occupancy rates, so we get a good risk adjusted return overall. Privately-held corporations need not report compensation information. The move proved doubly prescient, as demand for content among homebound Americans skyrocketed during the pandemic. Meghji, 41, led the $1.65 billion deal. Paraquat herbicide exposure. We see this program as providing an opportunity to drive value for our investors through meeting a community need. 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. He co-oversees US real estate investments and is a member of the firm's real estate investment committee. Regardless of the specifics of your case, get help from the personal injury attorneys at Nadrich & Cohen. That's in large part because of Kim, BREIT's 43-year-old head of acquisitions and capital markets. CEO of Financial Advisory. These are the characteristics of real estate investment. 2.2. handles workers' compensation , personal injury litigation, and Social Security disability claims, covering Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Mercer, Monmouth, Ocean, and Salem counties. Our job is to always be looking at where we see avenues of growth and then overweight those avenues. Your California Privacy Rights / Privacy Policy. Raymond J. Beier is on the board of Blackstone Real Estate Income Trust, Inc. Instead, he is in charge of Blackstone's technology needs and participates in the firm's venture-capital-style investments. 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 . Agarwal, 55, is at the center of the firm's Core+ business, a division that targets long-term investments supported by minimal debt. He is also the Chairman and CEO of Blackstone Real Estate Income Trust. "The crisis created an unprecedented investment environment, which is all you can ever ask for as you launch a new business," he said. The biggest issue is that we dont have enough of it, plain and simple. "Demand for studio space in Los Angeles has been strong, but rising land values have made building new facilities very expensive. It is worth noting some limitations of the data. For investors looking for steady forms of yield, even with rates rising, we believe real estate is well positioned. 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. What impact might rising interest rates and inflation have? Income increased by 320,000 per owner. He joined the firm in 2007 to help set up Blackstone Real Estate Debt Strategies, the company's foray into the real-estate-debt markets as the financial crisis was creating billions of dollars in troubled-loan opportunities. Blackstone President Jonathan Gray, Schwarzmans No. In an inflationary, rising rate environment, multiples tend not to increase so the importance of owning things where cash flow will grow is super important. 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. Kim has arranged some of the fund's signature deals. Before joining Blackstone, he served as a managing director at the Praedium Group, a national real-estate investment firm. 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. All quotes delayed a minimum of 15 minutes. Frank Cohen. 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. Frank Tang - The South China Morning Post . 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. 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. You may also find the annual proxy statement by going directly to the company's website. Weve done 11 deals of over $1 billion just in the last 12 months. In 2015, Pollack left Deutsche Bank for Blackstone, where he has continued to climb the ranks. 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. Another of Levine's most influential deals was the acquisition of the 179 million-square-feet of warehouse space from GLP for $18.7 billion in 2019, which was the largest private-real-estate transaction at the time and preceded the explosive demand the sector would experience a year later. At QTS, we are working on a program to get to 100% renewable power. Even as inflation and interest rates rise, Blackstone's leaders remain bullish on the vast portfolio they have expanded over the past two decades. Before his current role, Pollack led Blackstone Real Estate Debt Strategies, or BREDS, which he helped grow from roughly $10 billion in assets under management when he started at the firm to $26 billion as of the second quarter of 2020. Weve definitely seen that trendline expand. Lead Director. 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