Were not building enough and especially not enough affordable housing. Chief Administrative Officer and General Counsel. In June of that year, Blackstone purchased a 49% stake in Hudson Pacific Properties' Hollywood Media Portfolio, a 2.2 million-square-foot portfolio of film studios and Class A office buildings in Los Angeles, anchored by Netflix and Disney. It was the largest real-estate credit fund ever raised, according to Blackstone, and represented nearly half of all funds raised in 2020, the commercial-real-estate brokerage JLL said. New York, New York 10154. 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. 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 proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. All rights reserved. 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. What impact might rising interest rates and inflation have? In the first half of 2021 this was $2.2bn. Eric's mailing address filed with the SEC is 200 BELLEVUE PARKWAY, SUITE 300, WILMINGTON, DE, 19809. Its very clear there are issues in this country with housing. If you went back 20 years and looked at the Blackstone real estate portfolio then, it was probably a third office, a third hotels, and a third other sectors. 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. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Most recently, he played a key role in Blackstone's acquisitions of Equity Office Properties Trust, CarrAmerica Realty Corporation and Trizec Properties. 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. 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. Analysis-Wood's ARK slammed by higher interest . He received no bonus. 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. 345 Park Avenue. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. See Photos. Just How Much Do the Top Private Equity Earners Make? Blackstone Inc. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Find your friends on Facebook. We see public real estate as unequivocally more attractive than private real estate today, LaSalle's Lisa Kaufman told Nareits REIT Report podcast. 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. The private equity firms argue that their executives could retire to a beach and earn these same dividends. Mr. Frank Cohen serves as Senior Managing Director, Real Estate & Global Head of Core+ Real Estate at Blackstone. Reporting by Chibuike Oguh in New York; Editing by Dan Grebler. LePatner, 40, is the chief operating officer of both BREIT and Blackstone's wider core real-estate investment strategy, Core+, which also includes European assets in a separate investment vehicle. And at some shops, executives collect a higher dividend than is awarded to ordinary shareholders. See Photos. "Then, I try to turn my focus to getting myself and my two daughters ready for our days and out the door," McCarthy said. Unusually high pay is the main attraction. Privately-held corporations need not report compensation information. Ares Management, however, includes both the amount of personal capital invested and the profits made on those investments. She won the race. 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. 1-202-739-9401 (fax). Frank Cohen. Hamid, a graduate of New York University, is a seasoned veteran of the multifamily space. This report is not for commercial use. 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). Investors bought a record $335 billion worth of US apartment buildings in 2021, more than double the amount in 2020, according to Real Capital Analytics, which analyzes commercial-real-estate data. Frank Cohen is the Global Chairman of Core+ Real Estate. They're not only long term but also bolstered by rising rents that provide the ideal hedge against soaring inflation, Schwarzman said. Over the past five years, BREIT has amassed a $94 billion portfolio as of year-end 2021. CEO of Financial Advisory. Before joining Blackstone, Johnson cofounded a boutique commercial-real-estate finance company and worked at Lehman Brothers' commercial-real-estate group. BREIT recently agreed to spend $1 billion to acquire single family homes and help address housing affordability challenges as part of its Choice Lease program in the U.S. What impact do you expect this to have on the current housing market? "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.". The move to sell the stake in the Reds is part of a larger effort to sell assets owned by Nippert trusts. - Thursday, June 1, 2017 While traditional lenders pulled back because of economic uncertainty, the company raised $8 billion for its latest real-estate debt fund, BREDS IV, which closed in September 2020. 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. 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. Blackstone owns about $116 billion worth of such assets, mostly through its $100 billion private-investment fund BREIT. Many of the earnings are is not traditional compensation, but it's money in their pockets nonetheless. Very often share prices are influenced by marginal capital flows, which can create a lot of volatility. 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. Rowans compensation as an Apollo co-founder and senior managing director was not reported. About 42% of its volume was for apartment properties in 2021. Most private equity executives sell their shares upon leaving their firms. While the former Goldman Sachs dealmaker grew up on the Jersey Shore and likes to spend weekends there, she calls Manhattan home. The timing of Blackstone 's purchase of Equity Office Properties could hardly have been worse. No. September 2005 Frank Cohen is a Managing Director of The Blackstone Group. 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. 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. 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 . Eventually it will unless its offensive or libelous (in which case it wont. In addition, clearly our goal is to be good investors and provide solid returns for those who invest in our real estate funds. Frank Cohen. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Victor Fleischer, a former corporate tax attorney and a former contributor to The New York Times, has estimated that taxing carried interest at the higher rate would result in about $180 billion in tax savings over 10 years. . His father, Fred H. Henritze, is a cofounder and the vice chair of the Brookdale Group, an Atlanta commercial-real-estate firm. . This is also the problem that Blackstone . We like this sector as well, because it is resilient during market cycles and delivers strong cash flow. Lead Director. In 2013, the biggest winner was Leon Black, the head of Apollo Global Management, who received about $543 million. It's part of Blackstone's perpetual investment vehicles, which deploy permanent sources of capital. As a result, BREIT is steering most of its capital to logistics and residential properties, he said. In the last two years, Stephen A. Schwarzman, the chief executive and a co-founder of the. It is worth noting some limitations of the data. 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. 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. There are currently 19 investors in the team, according to the Cincinnati Reds' website. All rights reserved. Schwarzman received more than $1 billion in dividends from his Blackstone shares and $253.1 million in compensation, filing showed on Friday. See here for a complete list of exchanges and delays. An in-depth comparative examination of legal history and jurisprudence however corroborates and amplifies the soundness of the comparison. BlackRock Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. ), 2023 eFinancialCareers - All rights reserved. And there will only be more focus going forward. Email. Blackstone Real Estate is the industry leader in opportunistic, core plus and debt investing across the US, Europe and Asia. He is a Senior Managing Director with Blackstone based in New York. Robert Aderholt, R-Ala., has introduced House Resolution 3799, the Constitutional Restoration Act of 2004. 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. 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. The firm Park Lane specializes in helping to sell sports franchises. 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. 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. 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. These are the characteristics of real estate investment. 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. Gain knowledge on investment and development in tier-one countries, growing economies, and emerging markets around the world. 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. 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 Pilleri loses. See Photos. "One signature of our culture is that we are highly connected, highly communicative," McCarthy said. Total Equityaggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Frank Cohen - $79,200 in Political Contributions for 2020, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions . 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. Found 1654 colleagues at The Blackstone Group L.P.. He joined Blackstone 10 years ago from Capital IQ with a goal of making its massive amount of proprietary real-estate and private-equity data more useful to investors. Have a confidential story, tip, or comment youd like to share? He has been Chairman of the Board of Directors and the Chief Executive Officer of Blackstone Real Estate Income Trust, Inc. since July 2016. Date: 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. Kenneth M. Jacobs. All rights reserved. "The crisis created an unprecedented investment environment, which is all you can ever ask for as you launch a new business," he said. Gray, 51, has a net worth of $4.5 billion, according to Forbes. He also earned $253.1 million in compensation, most of it through incentive fees and his cut of . (A full breakdown is below.) Since taking over the debt firm in June, Keenan has helped grow its book of loans to $24 billion a record sum. He is frequently referred to as "the Saatchi of the North", in reference to the more famous art dealer Charles Saatchi. 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. 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