Saturday, 27 December 2014
Last updated 3 days 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.
Dec 1 2014 | 10:21am ET
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