Monday, 3 August 2015
Last updated 38 min ago
Feb 29 2012 | 4:31am ET
Last year was a good one to be the founder of a prominent private equity fund.
Blackstone Group founder Stephen Schwarzman took home almost $150 million in 2011, while two Kohlberg Kravis Roberts founders each pocketed just under $100 million. Word of those paydays comes a month after it was revealed that the Carlyle Group's three founders split more than $400 million last year.
Just $350,000 of Schwarzman's $148.5 million came in the form of salary. Most of Schwarzman's income came from distributions from Blackstone funds, which accounted for $74 million, and dividends from his stake in the firm, which totaled $69.6 million, Blackstone said in a regulatory filing.
Schwarzman also earned $4.6 million in carried interest, his share of Blackstone's profits.
Other top Blackstone execs. had to settle for a good deal less. President Tony James earned $41.1 million and real estate chief Jonathan Gray, a new member of the firm's board of directors, $36.5 million. Like Schwarzman, each earned just $350,000 in salary, with James pocketing a $26.2 million bonus and Gray $21.4 million.
KKR's Henry Kravis and George Roberts each took home $94 million in 2011, the New York-based firm said in its own Securities and Exchange Commission filing. About one-third of that, $29.9 million, was in the form of compensation: $300,000 in salary, $29.3 million in carried interest. The rest came from dividends.
The eight-figure payout amounts to a 30% raise for the two.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…