Address. Weve also brought in very senior ESG professionals to lead efforts at the firm. Harper, 44, joined Blackstone in 2002, and in that time, he completed stints with the firm in Los Angeles and London. Owner income is 240,000 higher than MGMA average earnings. Caplan is responsible for assessing new investment opportunities and managing existing ones in the firm's real-estate division. 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. Frank Cohen (Frankiereds) See Photos. 1. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). Sign Up. Bloomberg News estimates the team is worth $680 million. The report and its 30-plus case studies feature REIT leadership and ESG innovation from a variety of sectors and serves as a tool to assess the scale and impact of the REIT industrys ESG commitments and initiatives. Available 24/7. Johnson, who joined Blackstone in 2011, oversees all of Blackstone's investments in commercial- and residential-real-estate debt. Frank Cohen. All rights reserved. Second, the executives invest in their firms own funds and get to keep their profits. 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. 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. He also helped spearhead Blackstone's acquisition of the 11,000 units inthe adjoining Manhattan apartment complexes Stuyvesant Town and Peter Cooper Village for nearly $5.5 billion. 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. Other visits to follow shortly after and as other countries in Asia reopen to travel.". It utilizes Article 3 Sec. 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. We believe being a good corporate citizen is central to that mission. Trebilco has been responsible for about $20 billion worth of acquisitions across the real-estate and hospitality sectors. It can add up to tens of millions of dollars. "We're always thinking about: Do we have the right leadership in place? 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. Kim has arranged some of the fund's signature deals. He has . On 9 February, 2007, it paid $39B for the listed company, using $32B of debt. 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. 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. Last year, we did the QTS Realty Trust deal, which was a large data center deal. 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. There is no doubt that more people are focused on ESG and working towards strong, positive ESG outcomes across portfolios. Analysis-Wood's ARK slammed by higher interest . And we do that by identifying themes benefiting from changes in the way people are living, shopping, working, and spending their leisure time," Kim said. 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. 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. [EDGAR] . In the first half of 2021 this was $2.2bn. 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. "Then, I try to turn my focus to getting myself and my two daughters ready for our days and out the door," McCarthy said. 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. 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. BREIT has recently closed a number of high-visibility transactions in sectors including single-family homes, data centers, and self-storage. And at some shops, executives collect a higher dividend than is awarded to ordinary shareholders. Scott D. Hoffman. COHEN, FRANK SHORT HILLS, NJ 07078: Blackstone Real Estate/Blackstone Real Estate/Senior Managing Director: $50,000: 12/20/2019: P: UNITE THE COUNTRY: COHEN . 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. 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. With exceptional legal credentials and experience, Petro Cohen, P.C. Hamilton E. James, Blackstones president, received $233 million in 2015, while Blackstones real estate chief, Jonathan D. Gray, earned $249 million. And there will only be more focus going forward. These are the characteristics of real estate investment. For its 2020 fiscal year, Blackstone Inc., listed the following CEO pay ratio data on its annual proxy statement to the SEC. Find thousands of jobs in financial services and technology by signing up to eFinancialCareers today. 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. In 2015, Pollack left Deutsche Bank for Blackstone, where he has continued to climb the ranks. I think ESG is something that is and will remain a large focus here at Blackstone and ultimately, youll see our underlying investors continue to be very concerned about managing ESG as well. Blackstone has the largest real estate platform in the world with $326 billion in investor capital under management (as of December 31, 2022). Biotech is another critical area for the firm. Engineman. Northwestern wanted him back. 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. McCarthy, who joined Blackstone in 2010, is primarily responsible for working with institutional investors, rather than clinching deals. https://www.nytimes.com/2016/12/10/business/dealbook/just-how-much-do-the-top-private-equity-earners-make.html, a former contributor to The New York Times. Blackstone announced its second quarter results today. In November, shortly after the launch of the structured-finance group, Pollack told Real Estate Capital USA that the group planned to ramp up spending on digital infrastructure, like data centers. She is also an investment-committee member for Blackstone Real Estate Advisors. A handful of recent transactions shows Blackstone's commitment to rental housing. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. BlackRock Inc. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Henritze recalled telling his friend. Since joining Blackstone in 1996, Cohen has been involved in over $100 billion of real estate transactions. This goes back to the global financial crisis in the late 2000s. 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. Blackstone Inc. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. At $600 million, the Cincinnati Reds are ranked No. A source with knowledge of the deal told The Enquirer Cohen acquired a less than 5 percent stake in the team. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. BLACKSTONE - Roger L. Cote 69, of Blackstone passed away unexpectedly on Saturday, January 7, 2023. . Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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. While the former Goldman Sachs dealmaker grew up on the Jersey Shore and likes to spend weekends there, she calls Manhattan home. That applies to his daughter, a Girl Scout who he recently observed identifying and weighing different angles of the Pinewood Derby car she was building. Blackstone's $8 billion purchase of BioMed Realty Trust in 2015, CEO Stephen Schwarzman said during the firm's fourth-quarter earnings call. For example, an . United States, District of Columbia, Washington. The team said in a Tuesday news release that it approved approved the sale Friday. Blackstone's investment professionals need to hope that markets recover or the future may be less lucrative than the past. They then will be provided a fixed rate option to purchase the home they are renting at below market rates every year. United States Navy. The Cincinnati Reds' newest owner is a top official from a New York-based global private equity and advisory firm. 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 executive, 41, has real estate in his blood. People named Frank Cohen. Of that amount, only $350,000 was his annual salary. Peter R. Orszag. The Times then analyzed the data, which covered the period from 2012 to 2015, and verified Equilars findings with the firms themselves. Its very clear there are issues in this country with housing. 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. Ive been at Blackstone since 1996 and the one consistent thing I have seen when investing real estate capital is that uncertainty and volatility is just part of investing. Green asset-backed securities (ABS) made . 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. 95% of all owners saw an increase in earnings. 1. However, the Wall Street Journal points out that this portfolio increased by 13.8% last year. The team said in a. Frank Pilleri loses. Frank Cohen Global Chairman of Core+ Real Estate Frank Cohen is the Global Chairman of Core+ Real Estate. Before joining Blackstone, Johnson cofounded a boutique commercial-real-estate finance company and worked at Lehman Brothers' commercial-real-estate group. We really think of ourselves as active investors and portfolio managers in this regard, he says. 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. Whats your perspective on how investors can use them to complement or hedge an investment portfolio over other fixed income products? Other prominent firms have produced big payouts as well. That's Frank Petro. Since joining Blackstone in 1996, Mr. Cohen has been involved in over $100 billion of real estate transactions. Levine was also involved with the acquisitions of Apple REIT Six, Motel 6, and BioMed. Frank Cohen, BREIT chairman and CEO, says the REIT is constantly looking at new investment alternatives. Personal. 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. "Can I send you my rsum?" The information shown here is a reporting of information included in the company's proxy statement. Frank Cohen. 1-800-3-NAREIT 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. 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. What are some of the success factors youve seen in investing? Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Kenneth A. Caplan is the Global Co-Head of Blackstone Real Estate. "Everyone has a good pitch, but the real question is how valuable and developed the solution is," Fitzpatrick said. Boston New York City Houston Chicago Los Angeles Atlanta. The move to sell the stake in the Reds is part of a larger effort to sell assets owned by Nippert trusts. His net worth is pegged at $8.5 billion, according to Forbes. Even the publicly traded private equity firms do not disclose all the same information, particularly when it comes to profits on their own funds. Frank Cohen has been chairman and the CEO of BREIT since July 2016. 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." "Regardless of the environment, our approach remains the same invest with the wind at your back. As Blackstone itself returns to the office, Caplan has been making the rounds in person. I think weve also created a product and a platform with distinct competitive advantages. [1] Our Standards: The Thomson Reuters Trust Principles. Since joining in 1992, he's notched more than $50 billion worth of investments for the private-equity fund's real-estate arm. Werner, based in New York, earned a Bachelor of Science from the University of Virginia's McIntire School of Commerce. In 2020, he was paid $1.3 billion for his performance as a hedge fund manager, and with his other income streams . Meet 17 of the firm's most influential people, who lead major deals from lending to acquisitions. 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. For all the populist outrage that banks have faced over compensation, their executives make just a fraction of what private equity chiefs do. The top executives of private equity firms often earn a cut of these profits. Bonus range: $11,500 - $190,000. In private equity alone, there were eight executives who reaped more than $100 million. The implication, therefore, is that the average Blackstone person earned $795k for the past six months, and will earn nearly $1.6m for the full year. 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 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. All quotes delayed a minimum of 15 minutes. 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. Eventually it will unless its offensive or libelous (in which case it wont. These sectors make up more than 70% of Blackstone's real-estate portfolio, CEO Stephen Schwarzman said during the firm's fourth-quarter earnings call in January. "I faced all the challenges one could imagine when building a multibillion-dollar business from hiring to ensuring standards remain high, moving quickly to keep up with growth, and staying ahead of market swings and growing pains.". Fourth-Quarter earnings call 680 million executive compensation and pay are most commonly in! ' commercial-real-estate group its annual proxy statement L. 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