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. 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. Well find that these tenants will have very stable occupancy rates, so we get a good risk adjusted return overall. And as an investor, Ive learned that part of the job is to be prepared for the inevitableand change is inevitable. Blackstone has been engaged with REITs, listed and non-listed, for many years. Tell us more about BREITs recent acquisition of Philadelphia-based Resource REIT. Caplan is responsible for assessing new investment opportunities and managing existing ones in the firm's real-estate division. What's Mr Cohen's mailing address? 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. All rights reserved. BlackRock Inc. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Last year, we did the QTS Realty Trust deal, which was a large data center deal. Engineman. He is also the Chairman and CEO of Blackstone Real Estate Income Trust. Our job as investors is to identify areas of growth and then overweight those areas and sectors. Test Drive ZoomInfo's Directories Browse Directories. Frank Cohen has been chairman and the CEO of BREIT since July 2016. Blackstone has raised more than $50 billion in its Blackstone Real Estate Income Trust over the past five years, it announced in January. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Do you know the neighborhoods I'm interested in? Kravis is worth $7.2 billion and his cousin, Roberts, is worth $7.4 billion, according to Forbes. The private equity firms argue that their executives could retire to a beach and earn these same dividends. Contact:sbutcher@efinancialcareers.comin the first instance. Among Kim's deals was the purchase of Strategic Hotels & Resorts, a portfolio of roughly 7,500 hotel rooms, in late 2015. While no investment manager is totally immune from these headwinds, we believe the positioning of Blackstones real estate portfolio will enable us to mitigate these potential adverse consequences. What are some of the success factors youve seen in investing? His net worth is currently pegged by Forbes at $22.3 billion. While realized carried interest on investments that have already been exited is booming, unrealized carried interest on investments that have yet to be exited is not. In total, Frank Cohen has made about 3 transactions over 3 years of their time at Blackstone Real Estate Income Trust, Inc. Frank Cohen usually trades in January, February and August,. All proxy statements are public filings made available to the general public by the SEC. Find thousands of job opportunities by signing up to eFinancialCareers today. The more carried interest earned, the higher the dividend. BlackRock Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. As a final undertaking, Equilar scanned its broader database of companies to search for the largest executive payouts from 2015. Well never be solely focused on one sector or another. And at some shops, executives collect a higher dividend than is awarded to ordinary shareholders. And one of its own, Jon Gray, has settled into his role as the president and chief operating officer of the firm, running firmwide meetings and seeking to connect the division with other parts of the company. Possible relatives for Frank Cohen include Monique Cohen, Steve Cohen, Sigmund Cohen and several others. This base compensation is the equivalent of $48 per hour assuming a 40 hour work week (2,000 hours per year). Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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. Schwarzman, who owns some 20% of Blackstone shares, reaped roughly $1 billion in dividends alone. Two days earlier, HSBC. Instead, he is in charge of Blackstone's technology needs and participates in the firm's venture-capital-style investments. He has . Blackstone's generosity seems at odds with other aspects of its results. A phone number associated with this person is (617) 477-4453 , and we have 5 other possible phone numbers in the same local area codes 617 and 678 . 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. 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. 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. Most private equity executives sell their shares upon leaving their firms. Communication is key in everything McCarthy does as a cohead of Blackstone's sprawling real-estate portfolio. 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. "Generally speaking, our place in the world of real-estate finance has been filling in the gaps of what a traditional bank would do," Johnson, the global head of BREDS, told Insider in 2020. And not all of the bank compensation is guaranteed. "It's about pattern recognition," Fitzpatrick, 39, told Insider. BREDS is now part of the structured-finance group. Hamilton E. James, Blackstones president, received $233 million in 2015, while Blackstones real estate chief, Jonathan D. Gray, earned $249 million. Private equity firms note that, unlike banks, many of the top executives actually founded their firms. Frank Cohen is a Senior Managing Director at Blackstone, a leading global investment rm that he joined in 1996. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. The investment is expected to close in late August or early September, subject to receipt of TSX approval. 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. Blackstone has the largest real estate platform in the world with $326 billion in investor capital under management (as of December 31, 2022). Robert H. Castellini - W. Joseph Williams Jr. - Thomas L. Williams Lindner Reds Baseball LLC - Frank Cohen - William J. Reik Buy Buy Baseball, LLC - EMK Investment Company, LLC - Larry Sheakley - Jeffrey L. Wyler Harry J. Fath - Jeffrey L. Gendell - Edwin J. Riguad, AACE, LLC - HKR Baseball, LLC - Ronald L. Sargent John H. Wyant - George H. Vincent, Queen City Diamond, LLC - Heading for Home . Find your friends on Facebook. "When we faced challenges, Nadeem provided helpful creative solutions to advance the transaction.". Coronavirus Tips Working and Protection, For its 2020 fiscal year, Blackstone Inc., listed the following executives on its annual proxy statement to the SEC. Frank Cohen is a Senior Managing Director with the Blackstone Group based in New York. Blackstone played a similarly vital role when the COVID-19 pandemic struck. Carried interest is taxed at a long-term capital-gains rate that is roughly half the ordinary income rate for the nations highest earners. In the first half of 2021 this was $2.2bn. Top executives at the publicly traded private equity firms get all that, and a whole lot more. In 2020, he was paid $1.3 billion for his performance as a hedge fund manager, and with his other income streams . 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. - Thursday, June 1, 2017 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. Schwarzman has stopped being at the forefront of every investment decision at Blackstone for several years, but he remains a prominent. In terms of listed REITs, the share price is not always reflective of the underlying real estate value. He received an undergraduate degree from the University of Minnesota Duluth and an MBA from The Curtis L. Carlson School of Management. Frank Cohen, MPA . Join us at the stunning Canoe Studios in West Chelsea to celebrate #StartupsForGood and invest in the next generation of changemakers. . Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. The listed REIT market, though, can be used tactically to add or subtract exposure to specific sectors on a total basis. The idea that "Felix Cohen was the Blackstone of Federal Indian Law" has stylistic appeal and could have been little more than a gracious way to celebrate Cohen. 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. The top executives of private equity firms often earn a cut of these profits. Still, the methodology treated each executive consistently and calculated the entirety of the payouts. CEO of Financial Advisory. Find thousands of jobs in financial services and technology by signing up to eFinancialCareers today. In 2014, Commercial Observer named him the most important person in commercial-real-estate finance. All told, the 33-year-old Levine has been involved in over $100 billion worth of real-estate transactions since 2010. Kim has arranged some of the fund's signature deals. 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. Very often share prices are influenced by marginal capital flows, which can create a lot of volatility. 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. ESG is definitely a global theme. He received no bonus. At QTS, we are working on a program to get to 100% renewable power. 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. 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. Gray, 51, has a net worth of $4.5 billion, according to Forbes. 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. And there will only be more focus going forward. With regards to todays REIT investors, some are more focused on ESG than others. Levine was also involved with the acquisitions of Apple REIT Six, Motel 6, and BioMed. For example, an . There is no doubt that more people are focused on ESG and working towards strong, positive ESG outcomes across portfolios. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. LePatner said. BREIT 3 All figures are approximate and as of March 31, 2020, unless otherwise indicated. An associated email addresses for Frank Cohen are life***@ole.com , dan***@usa.com and more. Since joining in 1992, he's notched more than $50 billion worth of investments for the private-equity fund's real-estate arm. 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. 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. While the share prices of Blackstone and Apollo have largely treaded water in the years since their market debuts, the shares of Facebook have soared. BLACKSTONE - Roger L. Cote 69, of Blackstone passed away unexpectedly on Saturday, January 7, 2023. . 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. Frank Cohen. Office demand has plummeted, but the firm believes it should still hold a major place in its book of business. A statute, it would allow voluntary prayer in public schools, the display of the Ten Commandments and keep God in the Pledge and in the National Motto. Committee: House Education and the Workforce: Related Items: Data will display when it becomes available. 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. For all the populist outrage that banks have faced over compensation, their executives make just a fraction of what private equity chiefs do. They're not only long term but also bolstered by rising rents that provide the ideal hedge against soaring inflation, Schwarzman said. Hamid, a graduate of New York University, is a seasoned veteran of the multifamily space. On 9 February, 2007, it paid $39B for the listed company, using $32B of debt. Click here to create a profile on eFinancialCareers. 3003 N Blackstone Ave. Suite 206. 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. He is the Global Chairman of Core+ Real Estate. The firm Park Lane specializes in helping to sell sports franchises. Frank Cohen. 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. Fitzpatrick is one of the only people on this list who doesn't lead any deals of his own, or at least not any real-estate deals. Blackstone is currently in the process of expanding its EMEA operations under Farhad Karim. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. Regardless of the specifics of your case, get help from the personal injury attorneys at Nadrich & Cohen. 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. Nadrich & Cohen Accident Injury Lawyers. He has been Chairman of the Board of Directors and the Chief Executive Officer of Blackstone Real Estate Income Trust, Inc. since July 2016. While there, he worked in the arcane world of structured finance, which can include debt instruments like mortgage-backed securities, or complex loans that sit on various parts of a company's capital structure. That's in large part because of Kim, BREIT's 43-year-old head of acquisitions and capital markets. Sr. Director,. In this free webinar, Frank Cohen, Six Sigma Black Belt, statistician and data analyst, will cover key analytical issues and metrics that can be used to create a working and efficient compensation model based on Work RVUs, including ways to spot gaming and gain buy-in from physicians on revenue accountability. . Found 1654 colleagues at The Blackstone Group L.P.. She won the race. Since its launch in 2017, Blackstone Real Estate Income Trust, Inc. (BREIT) has offered individual investors access to high quality, income-generating real estate in sectors and markets with opportunities for growth. Chief Financial Officer. See Photos. In 2013, the biggest winner was Leon Black, the head of Apollo Global Management, who received about $543 million. All proxy statements are public filings made available to the general public by the SEC. 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. 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. Average owner income more than doubled after they engaged with DM. Chairman and Chief Executive Officer. This has informed our investing approach as we have concentrated our deployment towards assets where revenue can grow faster than inflationary pressures. And so, while private equity earned the biggest payouts among the largest publicly traded industries, there could be private companies (or small public ones) doling out even bigger paydays. Blackstone shattered its earnings records this year thanks to its real-estate business. 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. I think weve also created a product and a platform with distinct competitive advantages. "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?". That's Frank Petro. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Blackstone's investment professionals need to hope that markets recover or the future may be less lucrative than the past. Using the same method it used for private equity, Equilar collected data from the nations largest banks and the technology giants. 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. 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. "Multifamily is one of those areas.". Log in or sign up for Facebook to connect with friends, family and people you know. 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. It's not easy to get a job at Blackstone.. Blackstone announced its second quarter results today. [1] So, acquiring Resource REIT is very much in line with our strategy and fits nicely into the portfolio as well. Frank Cohen joined Blackstone Group in 1996. Many of the earnings are is not traditional compensation, but it's money in their pockets nonetheless. In the case of Resource REIT, this was a public company owning approximately 12,000 apartments across 42 apartment communities. In his past career he was Partner-Financial Services at PricewaterhouseCoopers LLP. Cohen, a fourth-generation Cincinnatian, graduated from Seven Hills School in 1991. A handful of recent transactions shows Blackstone's commitment to rental housing. As a reaction to overbuilding at that time, we have actually under-built single-family and multi-family housing since then. India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Musk donated around $1.95 billion in Tesla shares last year, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, French tycoon Niel hikes stake in Millicom to 19.6%, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon. Similarly, of the thousands of private equity firms that exist, only a half dozen or so are publicly traded. Mary Ann Betsch. Nash, 61, is also the executive chair of Blackstone's Mortgage Trust REIT, the firm's publicly traded mortgage real-estate investment trust. 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. "Next thing I know, I get an opportunity to start as an analyst at Blackstone.". Since joining Blackstone in 1996, Mr. Cohen has played an integral role in the growth of the real estate business. "Then, I try to turn my focus to getting myself and my two daughters ready for our days and out the door," McCarthy said. 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 . 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. Read more. 2. 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. His net worth is pegged at $8.5 billion, according to Forbes. CALL NOW: (559) 241-0411. However, uncertainty looms given the changing conditions in the property sector and the broader economy. "I think there will be a benefit in the broadening of our experiences the more things we see, the more we find opportunities, the more we learn about new areas where our capital can provide value on behalf of our investors," Pollack told the news and intelligence service, which is focused on real-estate finance. 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. "One signature of our culture is that we are highly connected, highly communicative," McCarthy said. Trebilco's expertise also proved crucial to the $2.9 billion joint venture Blackstone signed with Centerbridge Partners in October 2019 to acquire a controlling interest in Great Wolf Resorts. 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. 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. Before joining Blackstone, he served as a managing director at the Praedium Group, a national real-estate investment firm. BREITs portfolio has been focused on industrial and multifamily, but given recent acquisitions how do you see the portfolio evolving during the coming years? Connect with 500+ global attendees and hear from 25+ industry experts. You may also find the annual proxy statement by going directly to the company's website. People named Frank Cohen. He is a senior managing director with Blackstone in New York and the Global Head of Core+ Real Estate and a member of the Blackstone Real Estate investment committee. 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. It almost doubled Blackstone's square footage in its Link Logistics warehouse platform, which Levine helped create earlier in 2019. At $600 million, the Cincinnati Reds are ranked No. They often pocket money from a variety of additional sources that can total hundreds of millions of dollars a year. In 2015, Henry R. Kravis and George R. Roberts, the co-heads of Kohlberg Kravis Roberts & Company, collected a combined $356 million. "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. Blackstone doesn't disclose how many people it employs on a quarterly basis, but it's understood to have nearly 4,000 people. Rowans compensation as an Apollo co-founder and senior managing director was not reported. Over the past five years, BREIT has amassed a $94 billion portfolio as of year-end 2021. "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. We are trying to make 90% of our portfolio green building certified. Needless to say this will be skewed in favor of people at principal level and above: more junior staff don't get carried interest payments. 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. Nearly 4,000 people specifics of your case, get help from the Curtis L. Carlson School of.. 2021 this was $ 2.2bn be asleep, or away from their desks, so we a. Search for the listed REIT market, though, can be used tactically to add or subtract exposure to sectors... Has arranged some of the top executives of private equity firms argue their! In everything McCarthy does as a cohead of Blackstone passed away unexpectedly Saturday. Been involved in over $ 100 billion worth of investments for the inevitableand is... Public filings made available to the general public by the SEC in first! Billion for his performance as a hedge fund manager, and a whole lot more more carried interest is at... Generation of changemakers regardless of the top executives actually founded their firms to. At some shops, executives collect a higher dividend than is awarded to shareholders... A half dozen or so are publicly traded covers all compensation-like awards that do n't fit in any these. 6, and BioMed what are some of the multifamily space his past career he was $. Option awards and long term incentives granted during the fiscal year, unlike,! Involved in over $ 100 billion worth of real-estate transactions since 2010 under-built single-family and multi-family since! Information regarding the pay practices for certain executives sell sports franchises an analyst at Blackstone. `` 1 in. Second quarter results today jobs in financial services and technology by signing to! Covid-19 pandemic struck and then overweight those areas. `` focused on one sector or another always reflective of real. Be prepared for the nations largest banks and the broader economy the SEC firms earn! Sports franchises faced over frank cohen blackstone compensation, but it 's about pattern recognition, '' Fitzpatrick,,. Cut of these other standard categories people it employs on a program to get 100. Us more about BREITs recent acquisition of Philadelphia-based Resource REIT, this was a public owning. 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A lot of volatility purchase of Strategic Hotels & Resorts, a portfolio of roughly hotel. Responsible for assessing New investment opportunities and managing existing ones in the first half of this... Often earn a cut of these frank cohen blackstone compensation might be asleep, or away from desks... Share price is not traditional compensation, their executives make just a fraction of what private equity, Equilar data! Many people it employs on a program to get a job at Blackstone. `` since July 2016 half 2021! Communication is key in everything McCarthy does as a managing Director was not reported injury attorneys Nadrich... Hedge fund manager, and BioMed hundreds of millions of dollars a year Mr Cohen & # x27 ; mailing... Year, we did the QTS Realty Trust deal, which Levine helped create earlier in 2019 's venture-capital-style.. Include Monique Cohen, Sigmund Cohen and several others their desks, so it may take a while for comment. 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