joe baratta blackstone compensation

He is very familiar with everything from M&A to credit, to real estate, on and on, and has had experiences both in the U.S. and overseas, really a global perspective on what took place in private equity in the past and what the future looks like. Individual Investors & Financial Advisors. Yes. February 26, 2020 08:15 AM Eastern Standard Time. Scrutiny, Apple Drops Lawsuit Against Former Chip Executive Over IP Theft, Coinbase CEOs Pay Shrinks as Stock Slides. "For any professional investor, this is the most difficult period we've ever experienced . RITHOLTZ: And when you say Steve, for those people who may not be familiar with . BARATTA: Were not seeing evidence of it in the portfolio. 2013-2023 The Information. So, were, were very much open for business in Europe, in the U.K. You know, the conflict has definitely been a drag to some degree in the economy, and introduces some uncertainty. The estimated net worth of Joseph Baratta is at least $105.31 million as of April 3rd, 2023. Like, look at Disney, you know, Disney, in large part, was hugely enabled by streaming services because of the amazing content it owned. To view recent press releases,click here. Sebastian Escobar is my audio engineer. Before joining Blackstone, Mr. Baratta was with Tinicum Incorporated and McCown De Leeuw & Company. Disclosures We still continue, in many of our companies, to struggle to fill open roles. RITHOLTZ: Thats really interesting. We bought their Climate Technologies business called Copeland. Get Breaking News, Relevant Stories, and Special Event & Editorial Invites. I had never been to New York City till I was, I think, 20 years old, and I had some roommates who grew up in New York City whove gone to Dalton High School here, so completely different world. In addition, he makes $0 as Global Head of Private Equity and Director of the Company at Blackstone Inc. It sounds like a good background for someone who eventually ends up buying companies. BARATTA: And then, of course and now, look, theyre fun to watch. We actually have assets where those are going in, or were investing in components that are part of . You have your way. Baratta said his Blackstone unit had invested $1 billion to $1.5 billion in company buyouts the first half of 2015, a rate that is "a lot slower" than in previous years. The Fed was saying, no, its transitory or whatever adjective they used. Tell us about those experiences. Thats why, as an investor, Im much happier today because were able to buy things more cheaply. Switchboard: +1 (212) 583-5000. BARATTA: Not only post Brexit but now, you know, in this kind of world of inflation and dislocation and conflict near the continent, like all of that is conspiring, I think, to make markets look relatively attractive, in particular in the U.K., where we own a lot of assets and well continue to buy businesses. It seems like private equity is qualitatively different than it was back in the early days. RITHOLTZ: Youre looking at the cost of capital and how much margin or leverage you want to assume. So our strategy was, and sort of David had conceptualized, like, were going to be the neutral Americans who can work with the local European firms to help them get deals done. All of our earlier podcasts on your favorite pod hosts can be found here. 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. And so, yeah, there was a lot of volatility. BARATTA: You know, the book I most recently finished, by Arthur Brooks, a book on happiness. But Mayer and a former Disney colleague, Tom Staggs, had a different pitch: Would Blackstone back a brand-new media company they were forming that would tap into the gusher of money going into streaming? So we share themes and we share these economic signals. BARATTA: No, no. Blackstone's Joe Baratta: long-life private equity funds 'now an asset Both in terms of the aggregate revenue of our company, size of our portfolio, were probably now something like 150 total investments, many hundreds of billions of revenue, hundreds of thousands of employees if you add up all of the companies in which were invested. BARATTA: Well, yeah, the private credit market I think is really attractive, and its actually been around a long time. For press inquiries, contact[emailprotected]. You can stream and download our full conversation, including any podcast extras, iTunes, Spotify, Stitcher, Google, Bloomberg, and Omny. But were not seeing it. But it is looking at whats more attractive and whats less attractive. Mr. Baratta owns over 85,000 units of Blackstone Inc stock worth over $99,814,339 and over the last 3 years he sold BX stock worth over $81,255,679. The Tate Foundation is the private philanthropic arm of the Tate that helps fund special projects, whether its exhibitions or building new buildings, you know, the big Tate Modern gallery was, in large part, funded by private donations. And now, the rate of change is much more quick with the advent of technology, ubiquitous broadband, which really enabled the internet, changed the way we . Joseph Baratta - Biography - MarketScreener.com Markets never sleep, and neither does Bloomberg News. It has to be useful if you have skills. 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. 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. And they had like bottles of Bordeaux on the conference room table. RITHOLTZ: And then we talked about the companies that youre on the boards of, but youre also a trustee of the Tate Foundation, which I assume is related to the giant Tate Museum in London. So, clearly, that was a great time to pull back in mid-2021. Are goalscorers born or made? It sounds like you can scale up by partnering with lots of other PE firms. Fintechs, beat down by the tech meltdown last year, are struggling to make good on their pitch to consumers. And the size of our private equity business is you know, were now on our ninth fund. It seeks to create positive economic impact and long-term value for its investors, the companies it invests in, and the communities in which it works. When I came to the city, I was like, wow, this place is amazing. You can stream and download our full conversation, including any podcast extras, iTunes, Spotify, Stitcher, Google, Bloomberg, and Omny. stonco lighting catalog. BARATTA: Steve Schwarzman, our co-founder and CEO and chairman and, you know, amazing mentor and great businessman. RITHOLTZ: So we see a lot of hype business come along. RITHOLTZ: So its not like the public markets where you could say sell here, buy there, because you have such obvious prints . Mr. Baratta served as the Senior Managing Director and Head of European Private Equity at The Blackstone Group. BARATTA: Ive been really fortunate in my life where Ive had, you know, along the way, in the journey, Morgan Stanley, at McCown De Leeuw, at Tinicum which is the Ruttenberg family, where in each of those places, Ive had somebody who really helped me in my career and with whom Im very close even today. Clearly, there was a ton of hype in crypto. So, yeah, theres a few companies where Im closely involved, and I sit on the board and I help their management teams plot strategy and deal with important strategic issues. And so, that didnt happen until 2002. Mr. Baratta owns over 85,000 units of Blackstone Inc stock worth over $99,814,339 and over the last 3 years he sold BX stock worth over $81,255,679. And by the time youre in your 50s, with some wisdom, you can be really good at the job. And so we partnered with a few local firms and actually one of our U.S. competitors to look at this big asset, because it was quite big. BARATTA: Yeah. So I actually think, at the large end of the private equity market, were undercapitalized. 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. NEW YORK-- ( BUSINESS WIRE )--Blackstone (NYSE:BX) today announced that Joe Baratta, the firm's Global Head of Private Equity, will join its . And it also happens to be a production of one of our portfolio companies, Hello Sunshine. You go to D.C. You go to New York. Blackstone Hires Droga5 Chief Strategy Officer Jonny Bauer To - Forbes I think the one thing Ive seen in this generation of people, like me and you, is we all were impatient. We have been speaking with Joe Baratta. In addition, he makes $0 as Global Head of Private Equity and Director of the Company at Blackstone Inc. Joseph has made over 11 trades of the Blackstone Inc stock since 2020, according to the Form 4 filled with the SEC. We back them with capital and support, and we let them run the businesses. Theres nothing intimidating about those institutions, and then I knew some people who are involved. [1] Early life Born in Sacramento, California, Baratta graduated from Jesuit High School in the Sacramento area in 1989, then Georgetown University, from which he graduated magna cum laude in 1993. From Strength to Strength: Finding Success, Happiness, and Deep Purpose in the Second Half of Life by Arthur C. Brooks. And so, thats what we were able to do to a large degree, is to become more conservative, to become more cautious on valuations, you know, as we started seeing evidence of inflation, and thinking that rates were probably going to go up at some point. And then, like I said, theyre very accessible. And so we did, but we were kind of trying to do deals by airplane from New York, and thats not functional. We find great management teams. RITHOLTZ: underneath it, because you dont have this obviously, and Im not going to teach you about the private equity business. Where are you looking around the world? It is an institutionalized asset class. You can find those at YouTube, iTunes, Spotify, wherever you find your favorite podcasts. View stories on our mobile app and tune into our weekly podcast. 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. Blackstone was right on their heels back then. its $619 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. So given the change in size of private equity over the past 25 years, is there a sweet spot? The IOC and FIFA are scrambling to change their ways before it's too late. RITHOLTZ: To say nothing of two people separated by a common language, right? On average, Blackstone Inc executives and independent directors trade stock every 59 days with the average trade being worth of $43,777,685. BARATTA: I got a lot of good friends from high school. Atika Valbrun is our project manager. Joseph Patrick Baratta Global Head of Private Equity There were a few firms, couple of big leaders like KKR. There are 23 older and 2 younger executives at Blackstone Inc. You know, we bought Hilton in June of 2007. BARATTA: Yeah, hes amazing. RITHOLTZ: Really quite interesting. And we did we became more cautious. The first deal we looked at was in France. By submitting this request, you consent to receive email from Blackstone. In the long run. What is it like being on these boards? Not to say like we executed on that vision perfectly, I mean, we would have made some mistakes, but we definitely became much more cautious when the bull market really ramped up, in particular, post COVID, when not only did you have the low rates which the Fed double down on, you had this huge transfer payment from the federal government . Joseph Baratta is the Global Head of Private Equity and a member of Blackstone's Board of Directors. Joseph Baratta Net Worth, Biography, and Insider Trading Id never lived abroad. Is this simply becoming institutionalized, or has the asset class been validated and now people are treating it differently than they did in the 90s where it was kind of a small niche , RITHOLTZ: backwater? 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? The big TV companies, such as ViacomCBS and Discovery, were bleeding viewers as people cut the cord to cable television and streaming powerhouses like Netflix grew ever bigger. I have my way. His current reading is here; A transcript of our conversation is available here Tuesday. Because it looks like a couple of big companies push their way in, there were a couple of transactions, or is this going to, you know, be the fertilizer that launches a thousand blooms, or whatever the expression is? And so, weve pursued, in the last decade, a control strategy, and largely where we are an outsourcing partner, providing a critical component or service to Western companies. I think were 4,500 , BARATTA: or something like that. Blackstone Group is talking to its biggest investors to create a "coalition of the willing" that can buy control of large companies outside its existing funds, according to Joe Baratta, head . BARATTA: And, you know, philanthropy in the U.K. is at a different scale than in the U.S. He is also a member of the firm's Management Committee and serves on many of the firm's investment committees. 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? Is this just part of the life cycle of business, or do you go through these periodic spasms where everything changes? Blackstone secured $8.2 billion for a second long-life offering, 70 percent more than the strategy's 2016-vintage debut fund. Blackstone, as a brand name, was becoming more known just everywhere, but in particular in Europe, because we werent particularly well known at that time. So you do some really interesting work at Blackstone, including serving on a lot of portfolio companies boards. And, you know, I grew up at the foothills of the Sierra Nevada Mountains, and I love to go there. To receive email alerts from Blackstone, sign up below. Joe reflects on what the end of easy monetary policy and near-term growth headwinds mean for investors. A Blackstone View on the Next Wave of Buyouts - LinkedIn BARATTA: You know, I had young kids. So one of our first hires, now, the man who runs our business in Europe, we hired this guy, Lionel Assant, whos French, and we hired Germans. And so. On average, Joseph trades about 53,227 units every 51 days since 2020. Ive been a Dallas Cowboys fan since Im 7 years old. So we were working with our real estate guys in health care facilities, and visitor attractions, and theme parks. So it was a beneficiary of the technology change. Weve had a big business there for a long time and we see really attractive assets. And you have to enjoy that process and enjoy like the time it takes. You know, to your point, like its hard to turn on a dime and say, sell the whole portfolio. We recently announced to take private of a technology company called Cvent, which is publicly traded. Read deeply reported stories from the largest newsroom in tech. And within Blackstone, our private equity funds are called Blackstone Capital Partners. BARATTA: that are $10 billion to $15 billion-plus enterprise value company. BARATTA: Yeah. Hes way more interesting than me. RITHOLTZ: And so you guys are expanding in the 2000s in Europe. And when I . BARATTA: Well, its not necessarily a problem to do that with some of our friendly competitors. They introduced me to the head of a significant private equity firm in Europe. Joseph Baratta is an American business executive who is Global Head of Private Equity at Blackstone, a New York-based global asset management giant. BARATTA: Yeah. Ive heard people say Blackstone, Blackstone Group, Blackstone Partners. From Strength to Strength: Finding Success, Happiness, and Deep Purpose in the Second Half of Life. You know, economically, thats a big thing. But youre not wrong, I mean, theres different names within the individual businesses, but we all work at Blackstone. As companies got larger and larger, it seemed like banks went upscale with them and left sort of a gaping void in the middle, where, you know, mid-market companies didnt have a merchant bank that could facilitate loans, credit, anything . And its cool and, you know, Bitcoin or whatever, theyre just probably a real store of value. Joe Baratta to Join Blackstone's Board of Directors And the guy who was going over truly to lead, David Blitzer, who was a good friend and colleague, and he sort of said, geez, why dont you come and do this with me? And so I didnt know, you know, what finance was all about. I dont know what they call themselves back then. I really wanted to learn how to invest money, not just be an advisor, and I thought private equity was cool because you werent at the whim of the market. I thought the conversation was quite fascinating, and I think you will as well. RITHOLTZ: based on whats going on. He was the senior guy at that time. All the places youve mentioned, like Germany is very different than the Switzerland . It wasnt very long after the handover of Hong Kong to China, like a lot of things were changing in both the U.K. and Europe. We never have to sell, only when we want to because we control the companies. Ive been hearing recession chatter it seems like for six months, at least. Blackstone Inc's most recent insider trade came on April 4, 2023 by Joseph Baratta who sold 85,000 units worth $7.34M . The private equity firm has hired Droga5 Chief Strategy Officer Jonny Bauer as head of brand transformation for its portfolio group of more than 200 companies. Do you have the same phenomenon in the private market? I mean, for us, in corporate private equity, no. So a big part of what we do is trying to figure out where we dont want to invest, and whats going to be dislocated by ubiquitous broadband back in 2005, 06, 07, and now, AI with a rate of sophistication of that technology.

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