Thorough reviews have been conducted to assure this data accurately reflects disclosures. REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. Meghji, 41, led the $1.65 billion deal. 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. 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. Kravis is worth $7.2 billion and his cousin, Roberts, is worth $7.4 billion, according to Forbes. Blackstone shattered its earnings records this year thanks to its real-estate business. This report is not for commercial use. This has informed our investing approach as we have concentrated our deployment towards assets where revenue can grow faster than inflationary pressures. John C. Regardless of the specifics of your case, get help from the personal injury attorneys at Nadrich & Cohen. Weve expanded the way that we recruit talent at the firm to be inclusive and diverse. Frank Pilleri loses. 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. Blackstone Real Estate Investment Trust, the largest non-publicly traded real-estate investment trust, faces its biggest challenge since its inception in 2017 amid a setback in public real-estate. And as inflation surged to its fastest rate since 1981, apartment owners like Blackstone could also raise rents to preserve their profit margins, Schwarzman, Blackstone's CEO, said in an earnings call in January. Personal. Other visits to follow shortly after and as other countries in Asia reopen to travel.". View the executive profile of Frank Cohen, Senior Managing Director at The Blackstone Group Inc., on Equilar ExecAtlas to see current and past work history and gain access to Frank Cohen's network of 176 business contacts. Blackstone Real Estate Income Trust, Inc. BLACKSTONE - Roger L. Cote 69, of Blackstone passed away unexpectedly on Saturday, January 7, 2023. . Log In. Email. At $600 million, the Cincinnati Reds are ranked No. Frank Cohen bought the share. Since joining Blackstone in 1996, Mr. Cohen has played an integral role in the growth of the real estate business. There, Trebilco, 38, worked closely with clients in the gaming and hospitality worlds. Harper helped perform diligence and provide financing for the acquisition of Hilton, which went public in 2013, he told the Commercial Observer in 2015. - Thursday, June 1, 2017 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,. Office demand has plummeted, but the firm believes it should still hold a major place in its book of business. Similarly, of the thousands of private equity firms that exist, only a half dozen or so are publicly traded. Do you know the neighborhoods I'm interested in? "Core+ was, for all intents and purposes, a startup." Frank Cohen Global Head of Core+ Real Estate Frank Cohen is a Senior Managing Director in the Real Estate Group and the Global Head of Core+ Real Estate. 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. 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. 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. BlackRock Inc. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. If you have focused your search on specific areas, it is important to work with a real estate agent who knows that area well. 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. These are the characteristics of real estate investment. Harper, 44, joined Blackstone in 2002, and in that time, he completed stints with the firm in Los Angeles and London. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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. 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 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. An associated email addresses for Frank Cohen are life***@ole.com , dan***@usa.com and more. 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. 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. 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. The information shown here is a reporting of information included in the company's proxy statement. Paraquat herbicide exposure. Available 24/7. "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. His father, Fred H. Henritze, is a cofounder and the vice chair of the Brookdale Group, an Atlanta commercial-real-estate firm. The move to sell the stake in the Reds is part of a larger effort to sell assets owned by Nippert trusts. 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. (Stock sales and unrealized equity gains from increase in stock price werent included in this study.) Connect with 500+ global attendees and hear from 25+ industry experts. Scott D. Hoffman. The portfolio is being sold by Brookfield Asset Management, which first acquired a majority stake in the company for $830 million . See here for a complete list of exchanges and delays. In the first half of 2022, it was -$914m. Menu Home; Rankings. Since joining Blackstone in 1996, Mr Cohen has been involved in a variety of real estate transactions, encompassing all property types throughout the United States. He is frequently referred to as "the Saatchi of the North", in reference to the more famous art dealer Charles Saatchi. 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. Frank Tang - The South China Morning Post . What's Mr Cohen's mailing address? Most recently, he played a key role in Blackstone's acquisitions of Equity Office Properties Trust, CarrAmerica Realty Corporation and Trizec Properties. 2023 www.cincinnati.com. 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 . Fitzpatrick has a background in software engineering, which may reflect the technical know-how that runs in his family. Before joining Blackstone's real-estate group, he was an analyst in the firm's restructuring and reorganization group. 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. Levine started his career at Blackstone after graduating from Northwestern University over 12 years ago. As a result, REITs stack up very well as a fixed income alternative, plus you can get the upside from the underlying real estate. One company that Blackstone backed is Dealpath, which digitizes data on commercial-real-estate deals. 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. Blackstone Inc. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Phone. Henritze recalled telling his friend. BREITs portfolio has been focused on industrial and multifamily, but given recent acquisitions how do you see the portfolio evolving during the coming years? And so, I think when you bring BREITs proprietary advantages together with Blackstones global institutional platform, this really resonates with our investors. There are currently 19 investors in the team, according to the Cincinnati Reds' website. Find your friends on Facebook. Chairman and Chief Executive Officer. Finally, there is whats known as carried interest, essentially the profits earned on each of the firms deals. Well never be solely focused on one sector or another. Drug Policy Alliance. In 2020, he was paid $1.3 billion for his performance as a hedge fund manager, and with his other income streams . 1. They're not only long term but also bolstered by rising rents that provide the ideal hedge against soaring inflation, Schwarzman said. Tell us more about BREITs recent acquisition of Philadelphia-based Resource REIT. That's Frank Petro. 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. 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. That's in large part because of Kim, BREIT's 43-year-old head of acquisitions and capital markets. BlackRock Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. 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. All told, the 33-year-old Levine has been involved in over $100 billion worth of real-estate transactions since 2010. . Most REITs trade on major stock exchanges, and they offer a number of benefits to investors. We are continuously looking at a lot of different sectors. "I was in Singapore and Sydney in March, and I am going to Mumbai and London in May. 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. Mary Ann Betsch. As a final undertaking, Equilar scanned its broader database of companies to search for the largest executive payouts from 2015. But you dont need to be Mr. Schwarzman to earn huge sums at Blackstone, arguably the industrys most successful firm. 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. So, whether it was the tech bubble in 2000 or the financial crisis in 2008, or COVID in 2020, what Ive really learned is that you always have to be looking around corners and anticipating change. He received no bonus. Blackstone President Jonathan Gray, Schwarzmans No. Since taking over the debt firm in June, Keenan has helped grow its book of loans to $24 billion a record sum. 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 London, he ran Blackstone's group for real-estate-debt strategies in Europe. Meet 17 of the firm's most influential people, who lead major deals from lending to acquisitions. Schwarzman, 74, received $86.4 million in compensation and $524.1 million in dividends from his Blackstone shares, a regulatory filing showed on Friday. Nareits REITwise: 2023 Law, Accounting and Finance Conference offers a comprehensive educational program for legal, financial, tax and accounting operations within REITs and publicly traded real estate companies. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. Take Blackstone's investment in the hotel giant Hilton Worldwide in 2007. So, acquiring Resource REIT is very much in line with our strategy and fits nicely into the portfolio as well. 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. Businessman Bob Castellini remains the current principal owner of the Reds. 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. September 2005 Frank Cohen is a Managing Director of The Blackstone Group. Blackstone played a similarly vital role when the COVID-19 pandemic struck. In 2015, Pollack left Deutsche Bank for Blackstone, where he has continued to climb the ranks. 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. (A full breakdown is below.) Frank Cohen. New York, New York 10154. 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 . United States Navy. It is worth noting some limitations of the data. Fresno, CA 93703. Eric's mailing address filed with the SEC is 200 BELLEVUE PARKWAY, SUITE 300, WILMINGTON, DE, 19809. Other prominent firms have produced big payouts as well. 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. See Photos. 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. Date: "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. BREDS is now part of the structured-finance group. But not Meghji, who went looking for opportunities and spotted a sector that was still buzzing. In private equity alone, there were eight executives who reaped more than $100 million. 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. Since joining Blackstone in 1996, Mr. Cohen has been involved in over $100 billion of real estate transactions. 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. Direct. The firm Park Lane specializes in helping to sell sports franchises. 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. Last year, we did the QTS Realty Trust deal, which was a large data center deal. Just How Much Do the Top Private Equity Earners Make? United States, District of Columbia, Washington. 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. 345 Park Avenue. "Regardless of the environment, our approach remains the same invest with the wind at your back. All rights reserved. "Can I send you my rsum?" The Times based that conclusion on a number of findings. 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. Carried interest is taxed at a long-term capital-gains rate that is roughly half the ordinary income rate for the nations highest earners. Kenneth A. Caplan is the Global Co-Head of Blackstone Real Estate. And since the executives are often huge holders of the stock, they collect dividends, or distributions on their partnership shares, on a quarterly basis. An in-depth comparative examination of legal history and jurisprudence however corroborates and amplifies the soundness of the comparison. So, in terms of how our lens evolves over time, we are always looking at what sort of new and interesting things could be out there. BREIT just celebrated its fifth anniversary and has delivered a 13% annualized return since inception. Blackstone shattered its earnings records earlier this year and the firm can thank its booming real-estate business for that performance. CALL NOW: (559) 241-0411. And since he joined Blackstone in 2016, those relationships have borne billions of dollars in fruit for the private-equity firm. 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. The issuance of residential mortgage-backed securities (RMBS) resumed in August, following a break in the previous two months. Ares Management, however, includes both the amount of personal capital invested and the profits made on those investments. Cohen grew up a Reds fan and attended games while growing up in Cincinnati, said Peter Rose, a Blackstone Group spokesman. 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. Agarwal, 55, is at the center of the firm's Core+ business, a division that targets long-term investments supported by minimal debt. Frank Cohen A.J. 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 more carried interest earned, the higher the dividend. As an example, European institutions are very focused on ESG but there are other parts of the world where maybe there is less focus. What makes LePatner's tenure at Blackstone more remarkable is that its core strategy was a nascent investment category when she joined the firm in 2014. Find thousands of job opportunities by signing up to eFinancialCareers today. Frank Cohen (born 15 October 1943) is a British businessman and art collector. If you look at BREITs portfolio, were overweight in sectors we think will continue to see great growth potential, and in geographies that have the highest amounts of population growth, new household formation, and job growth. CEO of Financial Advisory. With exceptional legal credentials and experience, Petro Cohen, P.C. Frank Cohen, BREIT chairman and CEO, says the REIT is constantly looking at new investment alternatives. The biggest issue is that we dont have enough of it, plain and simple. Weve done 11 deals of over $1 billion just in the last 12 months. For investors looking for steady forms of yield, even with rates rising, we believe real estate is well positioned. 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. Have a confidential story, tip, or comment youd like to share? Since joining Blackstone in 1996, Mr. Cohen has been involved in over $100 billion of real estate transactions. In the last two years, Stephen A. Schwarzman, the chief executive and a co-founder of the Blackstone Group, received the largest sum. In 2014, Commercial Observer named him the most important person in commercial-real-estate finance. In the last two years, Stephen A. Schwarzman, the chief executive and a co-founder of the. . Privately-held corporations need not report compensation information. 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. 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. Since joining Blackstone in 1996, Cohen has been involved in over $100 billion of real estate transactions. 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. 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. Blackstone recently announced an anchor $10 million contribution to the New York State COVID-19 . Green asset-backed securities (ABS) made . Keenan, a 38-year-old Harvard graduate, is taking contrarian views, too. 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. And in February, the company said it would acquire Preferred Apartment Communities Inc., which owns about 12,000 apartment units, as well as retail properties, for $5.8 billion. Strategic connections and expert insights into global investment markets Tackling geopolitical issues and harnessing real estate growth opportunities. Source. "Multifamily is one of those areas.". In addition, clearly our goal is to be good investors and provide solid returns for those who invest in our real estate funds. More data has been produced in the last two years than in all of human history before that time. And do we have the right team supporting them?" Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Introductory Note . Base range: $60,000 - $175,000. Today's environment, however, is more volatile. Thorough reviews have been conducted to assure this data accurately reflects disclosures. And not all of the bank compensation is guaranteed. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Blackstone Group pays an average salary of $95,000 per year. Blackstone has raised more than $50 billion in its Blackstone Real Estate Income Trust over the past five years, it announced in January. Despite the firm having to restructure Hilton's debt after the 2007 housing crisis, Blackstone hung on to the hotel chain long enough to chalk up one of its most profitable private-equity investments. Frank Cohen. 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. (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. Thats why we bought Simply Self Storage two years ago. Blackstone netted $4.1 billion from the deal, according to The Wall Street Journal.