joe baratta blackstone compensation

RITHOLTZ: Im not being sarcastic. Were always on the 10:00 a.m. game and it was Americas team. The Fed was saying, no, its transitory or whatever adjective they used. BARATTA: Yeah. RITHOLTZ: Happy to have you. Blackstone Inc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Even though the buyout king has no plans to retire, the appointment of Joe Baratta, a 41-year-old dealmaker credited with building up the firm's European buyouts practice, was the latest step. RITHOLTZ: Yeah, supposed to be sort of loosely fashion day . So I actually think, at the large end of the private equity market, were undercapitalized. We had some real estate guys there. Calhoun will lead Blackstone's private equity portfolio management group, which basically means that he will aid CEOs with various operational challenges. RITHOLTZ: So before we let you go, were going to jump to our favorite questions that we ask all of our guests, starting with you mentioned streaming, tell us what youve been watching, what keeps the family entertained? How are you looking at a geopolitical event like that affecting, you know, whats taking place on the continent? and Merlin Entertainments Group. RITHOLTZ: which is very different than the Nordic countries. RITHOLTZ: You know, when there is no alternative, people just pile into equity. How Greed and Easy Money Corrupted Wall Street and Shook the World Economy Big software companies including Microsoft and Salesforce are racing to incorporate the technology behind ChatGPT, known as generative artificial intelligence, into their products to attract new users and boost profits. Where are you looking around the world? RITHOLTZ: To say nothing of two people separated by a common language, right? So if your alternative, as a company, is to go public at a given price, youre probably not going to sell it to a private equity firm at a much lower price. That had to be a giant challenge, especially given what was taking place. Mr. Joseph Patrick Baratta, also known as Joe, has been the Global Head of Private Equity at The Blackstone Group, Private Equity Group since July 2012. I guess you kind of forget, hey, when stock prices come down enough at a certain point, that valuation becomes really attractive, if the assets themselves are productive enough. The fund, Blackstone Core Equity Partners II, held the final close on its hard-cap of $8 billion, making it 70 percent larger than its 2016-vintage predecessor, according to a statement. As for the right way, the correct way, and the only way, it does not exist. RITHOLTZ: At what point does size become the enemy? Were down to our last two questions, what sort of advice would you give to a recent college grad who was interested in a career in private equity? joe baratta blackstone compensation. Joe Baratta to Join Blackstone's Board of Directors BARATTA: looking at the divestiture from Vivendi. Even when you read that announcement from that was 2012 . When he began, PE was a little bit of a niche boutique sort of investment, and over the ensuing 25 years, it has grown to be really a major asset class with giant opportunities that have been expressed by then small, now very large companies, of which Blackstone is one of the largest. BARATTA: Yeah, thats part of it. BARATTA: and nice calling card. Joseph Patrick Baratta Global Head of Private Equity The largest trade he's ever made was selling 434,815 units of Blackstone Inc stock on 4 August 2020 worth over $23,045,195. And by the time theyre 30, they wanted to have, like, declared victory on their career. BARATTA: Well, in our private equity business, were spending all of our time looking at things that touch the public markets, because that is where the valuation correction, you know, is really happening, where you can transact at prices lower today than they were two years ago. At that point in my career, I was 20 I think 27 years old, I wanted to attach my myself to a firm that I thought really had a lot of growth potential, where I could learn from the best people in the industry, and that certainly was what I found there. I mean, you have a bunch of companies that have trillion dollar-plus market caps. * * * * * Incentive alignment in India has been a harder thing. BARATTA: Yeah, right after I graduated college, I went to Georgetown in 1993. Joseph Baratta is an American business executive who is Global Head of Private Equity at Blackstone, a New York-based global asset management giant. I started at Blackstone in July of 98, and I guess what was going on that year, you had like a Southeast Asian currency crisis. BARATTA: I think starting with the fundamentals, you know, the economy is quite sound. But I could have evolved more quickly as an investor, you know, over time, and I continue to learn that lesson. You werent taken seriously. Mr. RITHOLTZ: We take for granted totally that youre out in a car, you can pull over anywhere and tank up with gas. It kind of helped us get off the ground, so to speak. how to check soundcloud notifications on mobile; shadows of london dress up time princess walkthrough; bill de blasio wife missing money; On average, Blackstone Inc executives and independent directors trade stock every 59 days with the average trade being worth of $43,777,685. One of the things that I have to follow up with is how important was it partnering with local other investors and other VCs or PEs? Ive heard people say Blackstone, Blackstone Group, Blackstone Partners. You know, that did not happen when we were kids. How are you looking at the investment environment today? Meaning, your team, your group would be a Fortune Top 20 Company. Ive been super lucky to have these fun adventures, whether or not with Stanley. Youve been listening to Masters in Business on Bloomberg Radio. I mean, you know, this is probably 2002. BARATTA: even though they lost in that 81 thing. Just like life gets in the way and I had, you know, a cool career going and I stuck with it. Disclosures From Strength to Strength: Finding Success, Happiness, and Deep Purpose in the Second Half of Life. And so, that didnt happen until 2002. So its been a great asset class. I mean, there have been leveraged loans and high yield bonds since the 1980s. It was more of a cottage industry. You want to be able to ensure that youre bringing in best-in-class management thats really perfectly aligned with you. Meet the frontrunner to lead Blackstone in Europe My friend and former Morgan Stanley analyst, colleague, Chad Pike, ran our European real estate stuff. I would be remiss if I did not thank the fine team who help put this conversation together each week. Follow me on Twitter @ritholtz. Mr. Baratta has served on the boards of a number of Blackstone portfolio companies and currently serves as a member or observer on the boards of directors of First Eagle Investment Management, Refinitiv, SESAC and Merlin Entertainments Group. And I know the size, it was 32, 33, 34, $35 billion. That was our first deal in Europe, which was actually a U.S. deal, but we probably wouldnt have done it had we not been there . I mean, inflation is higher than normal, but thats going to come down. BARATTA: into peoples pocketbooks, which massively accelerated the economy and rates stayed low. Now, the funniest story I can remember is, in these early days, when we were out trying to introduce ourselves to the local private equity firms, I went to Paris and went to Lazard Freres, which was you know, that is the bastion of, like, French establishment business. at the top of the firm, you know, Steve, John, a few others of us who are on the management committee are really able to push down into the organization like what were seeing and to change investment behaviors. Theres a scalability there that you dont get in the real world, which probably is why a lot of real-world assets eventually become attractively priced. BARATTA: We leaned into exiting what we could in that period. And we did we became more cautious. There are 23 older and 2 younger executives at Blackstone Inc. We had actually two investments in Germany in telecom infrastructure that in that moment, were doing that great. RITHOLTZ: You could just access everything online as well , BARATTA: Fewer of them. February 26, 2020 08:15 AM Eastern Standard Time. You can stream and download our full conversation, including any podcast extras, iTunes, Spotify, YouTube, Stitcher, Google, Bloomberg, and Omny. BARATTA: A growing economy, zero cost to capital, markets compounding at 15, 16, 17 percent. BARATTA: So Steve said, we got to have real presence. Business models are changing. And so, yeah, there was a lot of volatility. BARATTA: particularly this offseason, theyve done a nice job. But it is looking at whats more attractive and whats less attractive. And so, were trying to find the businesses that are going to be enabled and benefited by AI, and avoid the things that are going to be dislocated. Since 2012, Mr.Barattahas served as the firms Global Head of Private Equity and is located in New York. Were seeing some companies have less pricing power maybe than they had a year ago. Im assuming that all these different names all come from different work products, different strategies, different funds, or is just everybody getting this wrong? And we were like, look, wed be great partners as youre looking at assets. No, no, thats I mean, the firm is called Blackstone, period. And now, I think, you know, AI could be it probably is one of those other major sea changes, where business models turning on human beings doing rote tasks, you know, probably is not the future, and a lot of businesses are going to be dislocated. RITHOLTZ: Similar to U.S. antitrust rules . RITHOLTZ: So really a period of transition and . And, you know, Ive lived in great places. Learn More Get subscriber-only insights and news delivered by Barry every two weeks. BARATTA: I think that it changes so much fundamentally, that you cant hold on to like, you know, absolutes. And I think if you add it all up, we have about $40 billion of funds that were currently investing in their investment period. And, you know, I needed to earn some money and I was adept in finance. Of course, I mean, France, Germany, Italy, Spain, you know, the whole Nordic region, Sweden, theyre not . And so for the last maybe, I dont know, 12 or so years, Ive been involved with the Tate Foundation. Baratta explains how the firm thinks about dislocation and change, and the steps they take to make sure they are investing on the disruptor and not the disrupted side. RITHOLTZ: So lets talk about some of those different types of funds. But, like, really, our preference is to do it just by ourselves. Its attracted a lot of capital. Its really quite fascinating. Focus now turns to Lionel Assant, the man widely expected to replace him at the helm of the firm's European division. BARATTA: No, no. It is an institutionalized asset class. Abraham Shafi has stepped down as CEO of messaging app IRL following allegations that the company used bots to inflate the users it reported publicly and to investors, according to a person with direct knowledge. Blackstone's Baratta Buys Townhouse - Business Insider BARATTA: Its a great building that had a beautiful collection. BARATTA: Yeah, Im 29 when Im asked. I mean, I think the biggest deal thats been done in the last 10 years is around $30 billion and that, you know, yeah, to get that done, we had to work with two of our competitors, which is fine. RITHOLTZ: Thats quite interesting. Joe Baratta, Blackstone's global head of private equity, says even though loan markets are not really open right now Blackstone is well-suited to have access to capital. BARATTA: Right into the thick of it, trying to figure out what a two younger might my colleague, David Blitzer, I think he was maybe 31. BARATTA: No. It sounds like a good background for someone who eventually ends up buying companies. BARATTA: Well, you have to get him back. RITHOLTZ: So eventually you leave Morgan Stanley, you ended up at Tinicum Incorporated and McCown De Leeuw & Company. Hes way more interesting than me. So when youre adjusting your investment posture, youre basically saying were going to take more risk or less risk . BARATTA: I think it was 2005, when we started to look at in China and in India, in particular, and also Japan. So, yeah, thats been a fun thing to be in. I mean, this is the ultimate French establishment. JOSEPH BARATTA, GLOBAL HEAD OF PRIVATE EQUITY, BLACKSTONE: Thank you. It takes a long time to figure out like how you get good at something and the particular way you want to do it. We hired an Italian for the firm, Andrea Valeri. What are the challenges of investing in a place like India? We actually have assets where those are going in, or were investing in components that are part of . Three things to know about Blackstone's $8bn long-hold strategy But youre not wrong, I mean, theres different names within the individual businesses, but we all work at Blackstone. BARATTA: Its a real thing in Europe. We talked earlier about inflation and rising rates. Blackstone: long-life private equity funds 'now an asset class' Theres definitely been proof of concept for large scale institutional investors and even retail investors, that we can produce sustainable, predictable, above public market returns. BARATTA: Well, its not necessarily a problem to do that with some of our friendly competitors. We do think, at some level, it does affect the cost structures. You see these things before they start to show up in the economic data. And as an asset class, theyve performed extremely well, with low incidence of loss, good returns. Financial Advisors, visit our dedicated website to learn how you can partner with Blackstone. And so, yeah, and weve had limited partners in our funds whove been with us since the early 90s now and keep re-upping because we deliver a good return for their beneficiaries.

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