Blackstone, KKR Execs. Made Tens (Or Hundreds) Of Millions In '11

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.


In Depth

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...