Gray, 51, has a net worth of $4.5 billion, according to Forbes. With exceptional legal credentials and experience, Petro Cohen, P.C. The way we think about it is that there are two things that increase prices for assetsrising cash flows and rising multiples. 2125835000. 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. 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. 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. Blackstone's generosity seems at odds with other aspects of its results. September 2005 Frank Cohen is a Managing Director of The Blackstone Group. 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. A source with knowledge of the deal told The Enquirer Cohen acquired a less than 5 percent stake in the team. Copyright 2023 Surperformance. Frank Tang - The South China Morning Post . There, he played a major role in the development of the commercial mortgage-bond market. Its very clear there are issues in this country with housing. pay. 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. Nareit's members are REITs and other businesses 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. 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. 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. Frank Cohen joined Blackstone Group in 1996. Inflation is rising, and interest rates are going in the other direction. Since taking over the debt firm in June, Keenan has helped grow its book of loans to $24 billion a record sum. We like this sector as well, because it is resilient during market cycles and delivers strong cash flow. Both are very stable asset classes. In 2015, he collected just under $800 million, up from $689 million the year before. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Contact info: cohen@blackstone.com, cohenf@blackstone.com, fcohen@blackstone.com Find more info on AllPeople about Frank Cohen and The Blackstone Group L.P., as well as people who work for similar businesses nearby, colleagues for other branches, and more people with a similar name. 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). Direct---United States, New York, New York. And so, I think when you bring BREITs proprietary advantages together with Blackstones global institutional platform, this really resonates with our investors. 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. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. 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,. All proxy statements are public filings made available to the general public by the SEC. ESG is definitely a global theme. Take Blackstone's investment in the hotel giant Hilton Worldwide in 2007. 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. See Photos. He is a Senior Managing Director with Blackstone based in New York. 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. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. Make yourself visible to recruiters hiring for top jobs in technology and finance. He received an undergraduate degree from the University of Minnesota Duluth and an MBA from The Curtis L. Carlson School of Management. Raymond J. Beier is on the board of Blackstone Real Estate Income Trust, Inc. 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. 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. We are committed to providing these families with an opportunity to initially rent a desirable home at a discounted rate thats 10% below the local market in most cases. 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. John C. 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. Sign Up. Thorough reviews have been conducted to assure this data accurately reflects disclosures. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. BREIT just celebrated its fifth anniversary and has delivered a 13% annualized return since inception. Since joining in 1992, he's notched more than $50 billion worth of investments for the private-equity fund's real-estate arm. We have chosen to focus our practice exclusively in the . Hamilton E. James, Blackstones president, received $233 million in 2015, while Blackstones real estate chief, Jonathan D. Gray, earned $249 million. Hamid, a graduate of New York University, is a seasoned veteran of the multifamily space. Frank Cohen. Last year, we did the QTS Realty Trust deal, which was a large data center deal. 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. Frank Cohen is a Senior Managing Director with the Blackstone Group based in New York. 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. Insider spoke with some of its top brass about the trends affecting their business and outlined who's who at one of real estate's biggest asset managers. 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. Our job is to always be looking at where we see avenues of growth and then overweight those avenues. Blackstone Group pays an average salary of $95,000 per year. The couple sold a majority share in the team in 1981, but retained a smaller share of ownership in the team. In the first half of 2021 this was $2.2bn. 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. Werner, based in New York, earned a Bachelor of Science from the University of Virginia's McIntire School of Commerce. Before joining Blackstone, Johnson cofounded a boutique commercial-real-estate finance company and worked at Lehman Brothers' commercial-real-estate group. 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. While the former Goldman Sachs dealmaker grew up on the Jersey Shore and likes to spend weekends there, she calls Manhattan home. Pollack established himself as a star in real-estate finance during his 16-year tenure at Deutsche Bank. 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. "Demand for studio space in Los Angeles has been strong, but rising land values have made building new facilities very expensive. What's Mr Cohen's mailing address? 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. Frank Cohen Global Chairman of Core+ Real Estate Frank Cohen is the Global Chairman of Core+ Real Estate. He graduated from Northwestern University with a bachelor's degree in political science and he also graduated from the Honors Program in Mathematical Methods in the Social Sciences. Blackstone's $8 billion purchase of BioMed Realty Trust in 2015, CEO Stephen Schwarzman said during the firm's fourth-quarter earnings call. One company that Blackstone backed is Dealpath, which digitizes data on commercial-real-estate deals. Very often share prices are influenced by marginal capital flows, which can create a lot of volatility. However, the Wall Street Journal points out that this portfolio increased by 13.8% last year. Cohen, a fourth-generation Cincinnatian, graduated from Seven Hills School in 1991. About 42% of its volume was for apartment properties in 2021. Click here to create a profile on eFinancialCareers. Blackstone netted $4.1 billion from the deal, according to The Wall Street Journal. 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. That combination has resulted in a resilient portfolio, he said, adding that the firm had done a lot to prepare itself for a downturn. Blackstone is currently in the process of expanding its EMEA operations under Farhad Karim. Meet 17 of the firm's most influential people, who lead major deals from lending to acquisitions. She's managed to make the adjustment without sacrificing the company's pipeline of deals. Frank Cohen has been chairman and the CEO of BREIT since July 2016. 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. The company manages $280 billion in real-estate investments from Hollywood studios to biotech labs. Of course, very few do. 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. 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. [1] All rights reserved. Sr. Director,. If there were any missteps over the past five years, what were they and what did you learn from those experiences? He co-oversees US real estate investments and is a member of the firm's real estate investment committee. Keenan, a 38-year-old Harvard graduate, is taking contrarian views, too. . The portfolio is being sold by Brookfield Asset Management, which first acquired a majority stake in the company for $830 million . 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 . Blackstone Inc. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Engineman. Frank Cohen - $79,200 in Political Contributions for 2020, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions . 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. Steven Cohen. For its 2021 fiscal year, BlackRock Inc., listed the following CEO pay ratio data on its annual proxy statement to the SEC. Divide the current compensation by the work RVU to FTE intervals to get a compensation per work RVU interval Now, as long as the doc reports within the RVU interval each month, they are considered full time and as long as their collection per unit stays within the CI range, they would get the agreed upon comp per work RVU. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Thats why we bought Simply Self Storage two years ago. 1-202-739-9400 This base compensation is the equivalent of $48 per hour assuming a 40 hour work week (2,000 hours per year). Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Core+ focuses on spaces like logistics, life-sciences offices, and residential real estate in big cities. Asia Pacific; EMEA; Latin America; UK Solicitors; UK Bar; United States The joint study captured the full picture of what the executives made based on their affiliation with their firms, including dividends on the stock they own and some extra benefits specific to private equity. Two days earlier, HSBC. REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. Blackstone owns about $116 billion worth of such assets, mostly through its $100 billion private-investment fund BREIT. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. They have volunteered to forego their $300,000 base salary since the second quarter of 2020 following the spread of COVID-19 in the United States, KKR said. BREDS is now part of the structured-finance group. "The company that can connect the dots and paint the most complete picture wins.". 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. Other prominent firms have produced big payouts as well. Frank Cohen of Blackstone In a statement to the Australian stock exchange, Dexus said that 90 percent of the portfolio is connected to the Sydney and Melbourne markets, which have been the strongest performing this year, with the assets primarily composed of traditional logistics facilities that are set to benefit from the growth of e-commerce. Frank Cohen. 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. He is also the Chairman and CEO of Blackstone Real Estate Income Trust. That's in large part because of Kim, BREIT's 43-year-old head of acquisitions and capital markets. But you dont need to be Mr. Schwarzman to earn huge sums at Blackstone, arguably the industrys most successful firm. 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. Mark Cohen of Cohen & Gressler said the legal team wanted until March 3 to file a proposal for additional bail conditions for Bankman-Fried and find a . "Everyone has a good pitch, but the real question is how valuable and developed the solution is," Fitzpatrick said. The timing of Blackstone 's purchase of Equity Office Properties could hardly have been worse. Other visits to follow shortly after and as other countries in Asia reopen to travel.". Regardless of the specifics of your case, get help from the personal injury attorneys at Nadrich & Cohen. Connect with 500+ global attendees and hear from 25+ industry experts. 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. The information shown here is a reporting of information included in the company's proxy statement. These real estate companies have to meet a number of requirements to qualify as REITs. 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. 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. E-commerce has been a huge tailwind for industrials, obviously. Schwarzman, 74, received $86.4 million in compensation and $524.1 million in dividends from his Blackstone shares, a regulatory filing showed on Friday. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. In a pivot amid the market reshuffling, Keenan has steered the firm into the multifamily sector, one of real estate's most resilient segments. Frank Cohen, MPA . See Photos. Well find that these tenants will have very stable occupancy rates, so we get a good risk adjusted return overall. 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. "Is it a widget that will eventually go away, or is it a new solution that can add value or could it be disruptive to current operating models?". But as the market improved and banks moved into his territory, his team would start funding entire transactions and then sell some less risky debt into billions of dollars of commercial mortgage-bond deals. 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. Test Drive ZoomInfo's Directories Browse Directories. Agarwal, a Blackstone company lifer, is focused on what may be one of the firm's biggest real-estate initiatives to date. Instead, he is in charge of Blackstone's technology needs and participates in the firm's venture-capital-style investments. "The fundamental premise of the HPA platform is to provide residents with the opportunity to live in their chosen home with the option to purchase it we intend to build on that goal and expand access to homes across the US," Werner said in a statement at the time. Even as inflation and interest rates rise, Blackstone's leaders remain bullish on the vast portfolio they have expanded over the past two decades. 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. . Frank Cohen is the Global Chairman of Core+ Real Estate. 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. It's not easy to get a job at Blackstone. In the last two years, Stephen A. Schwarzman, the chief executive and a co-founder of the Blackstone Group, received the largest sum. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. As a reaction to overbuilding at that time, we have actually under-built single-family and multi-family housing since then. 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. "When we faced challenges, Nadeem provided helpful creative solutions to advance the transaction.". The Cincinnati Reds' newest owner is a top official from a New York-based global private equity and advisory firm. Frank Cohen. CALL NOW: (559) 241-0411. And do we have the right team supporting them?" Now, McCarthy said the firm was looking to add talent at portfolio companies. Her process, he said, reminded him of his own. What impact might rising interest rates and inflation have? 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. As a final undertaking, Equilar scanned its broader database of companies to search for the largest executive payouts from 2015. China's new securitization growth continued in the third quarter (3Q) of 2021 amid some headwinds from regulatory shifts. Frank Pilleri loses. However, uncertainty looms given the changing conditions in the property sector and the broader economy. 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. Fitzpatrick has a background in software engineering, which may reflect the technical know-how that runs in his family. It utilizes Article 3 Sec. Phone. or. Frank Cohen. Finally, there is whats known as carried interest, essentially the profits earned on each of the firms deals. He let her build the car by herself. BLACKSTONE - Roger L. Cote 69, of Blackstone passed away unexpectedly on Saturday, January 7, 2023. . Our Standards: The Thomson Reuters Trust Principles. 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