joe baratta blackstone compensation

So you move to the U.K. RITHOLTZ: Youre an hour to hop from all the key places . From Strength to Strength: Finding Success, Happiness, and Deep Purpose in the Second Half of Life by Arthur C. Brooks. ANNOUNCER: This is Masters in Business with Barry Ritholtz on Bloomberg Radio. We dont have an ego and, you know, we can help facilitate transactions, whatever, U.S. perspective and global perspective. RITHOLTZ: And when you say Steve, for those people who may not be familiar with . BARATTA: Patience. BARATTA: Yeah. 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. We never have to sell, only when we want to because we control the companies. Off-duty: Blackstone's Joe Baratta on gravel biking, Cloud Cuckoo Land and the Dallas Cowboys Baratta's shares his New Year's resolution, books he's reading and high and low career moments, as well as his fantasy management role in the NFL. And it also happens to be a production of one of our portfolio companies, Hello Sunshine. 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. In this podcast, Joe and Peter discuss Blackstone's history building Merlin into a global leader, and our long-term investment plans to help the company continue to expand. BARATTA: I think people are very negative on the U.K. and . And the guy looks at me like I had, you know, two horns coming out of my head, whos his young American? It took a year for all those local currencies, literally paper and coin currencies, to come out of circulation and have euro bills. Feel free to sign up for my daily reading list at ritholtz.com. How are you looking at the investment environment today? And there are thousands of companies in the U.S. . To view recent press releases, click here. RITHOLTZ: I was waiting for you to say, and it was 10:00 a.m. and they broke open the bottles of Bordeaux. 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. Before joining Blackstone, Mr.Barattawas with Tinicum Incorporated and McCown De Leeuw & Company. So I said, well, what kind of deals worked in the U.S. in the early 90s, in my experience? The acting is amazing. Its obvious in the public markets, things get frothy. Publicly traded Blackstone . Scrutiny, Apple Drops Lawsuit Against Former Chip Executive Over IP Theft, Coinbase CEOs Pay Shrinks as Stock Slides. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Is there a ceiling, or at what point you look at something and say, hey, thats just too big to try and take a bite on? It kind of helped us get off the ground, so to speak. BARATTA: Yeah. RITHOLTZ: Similar to U.S. antitrust rules . BARATTA: that are $10 billion to $15 billion-plus enterprise value company. IRL Suspended CEO Shafi After Reported Pattern of Misconduct; Acting CEO Named, By Mark Matousek · April 30, 2023 2:33 PM PDT. Get subscriber-only insights and news delivered by Barry daily. We actually have assets where those are going in, or were investing in components that are part of . Portions of this site are directed only to persons in certain jurisdictions. How do you keep all that straight? What are you looking at that might not have been on the table a decade ago? Brown shoes that are for like, you know . RITHOLTZ: I didnt realize philanthropy was that different overseas than it is here. RITHOLTZ: Is AI investable? We were looking at taking remember the Vivendi at that time? There are 23 older and 2 younger executives at Blackstone Inc. RITHOLTZ: Post Brexit, is that the driver? Before joining Blackstone, Mr. Baratta was with Tinicum Incorporated and McCown De Leeuw & Company. Yeah. 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 . So I think thats kind of the realm were in. To receive email alerts from Blackstone, sign up below. But it is looking at whats more attractive and whats less attractive. We combined it with another one. BARATTA: You had stuff going on in Latin America. So lets talk about your mentors who helped shape your career. BARATTA: I was watching the 10:00 a.m. game. BARATTA: Yeah. BARATTA: Yeah. 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. RITHOLTZ: You know, when there is no alternative, people just pile into equity. So the second deal we did was we worked with another firm, a local U.K. firm called CVC and also TPG to buy Scottish & Newcastles pub divestiture. Blackstone secured $8.2 billion for a second long-life offering, 70 percent more than the strategy's 2016-vintage debut fund. RITHOLTZ: you know, 20, 25 years ago. BARATTA: I mean, as much as we could. And then, like I said, theyre very accessible. I love football. How do I contact Joseph Baratta? And then when the Niners got good, I became a contrarian and said, no, Im going to root for the Cowboys . Ive been hearing recession chatter it seems like for six months, at least. I mean, some of your holdings like Hilton, obviously, giant. BARATTA: I agree with you, I mean, 100 percent. We were trying to figure out whether any of these assets were investable, said Baratta, global head of private equity at Blackstone, referring to media companies. 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. You can stream and download our full conversation, including any podcast extras, iTunes, Spotify, Stitcher, Google, Bloomberg, and Omny. 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? No, no, thats I mean, the firm is called Blackstone, period. RITHOLTZ: I can imagine. And so, we began to hire local people who were young in their careers. Im 30 when I moved, you know, yeah, because it was 2001 and, you know, it was just after September 11th. But thats not uncommon to see private equity firms taking companies private and transacting with public companies. I thought the conversation was quite fascinating, and I think you will as well. 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 . RITHOLTZ: First of all, how did you first get involved with them? By selecting the relevant option, you certify that it accurately reflects your residency. These are physical assets. But if we can find a great business at a reasonable price in Europe, were going to buy it. Like I said, theres a few fundamental enabling technologies that happen, ubiquitous broadband, internet to your house to your mobile device, which really enabled a change in retail and media models and communication models, and now this. But youre not wrong, I mean, theres different names within the individual businesses, but we all work at Blackstone. RITHOLTZ: in Europe. And also, there are new business models, new media models. To view recent press releases,click here. But in the moment, it was less wonderful. 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. 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. RITHOLTZ: At what point does size become the enemy? Commitments from new limited partners, along with significant re-ups from Fund I LPs, attest to "more interest in the concept" today relative to four years ago, Baratta said. Its very hard for us to assemble much more than a $5 billion equity check. The most active insiders traders include James Breyer, Hamilton E James, and International Group Incaig . Sean Russo is my researcher. You go to D.C. You go to New York. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. And so, you know, that was kind of the strategy Day 1. He is also a member of the firms Management Committee and serves on many of the firms investment committees. RITHOLTZ: And today, private equity has become immense compared to . You have to have like an open mind and realize that things are changing. In the short run, there can be distortions in public market valuations as we saw in 2001 and we saw prior to that in 2007, and prior to that in 2000, in 99. RITHOLTZ: And you had mentioned private credit before, that seems to have been a giant growth area, especially when rates were at zero, when people arent seeing a whole lot of returns from fixed income. RITHOLTZ: But youre not dealing with startups; youre dealing with . By submitting this request, you consent to receive email from Blackstone. How do you use all of this data thats generated by all of your portfolio companies to navigate the world at large? You could only wear black shoes. And he was, you know, in that moment, completely dismissive. Yeah. We had some real estate guys there. 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. Im doing my pitch on Blackstone and were good friends. RITHOLTZ: based on whats going on. 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. Private credit deals tend to be sold for plus. April 15, 2023 10:00am by The war in Ukraine, surprisingly, hasnt had a negative impact, or at least not as much as I expected in the public markets. Blackstone secured $8.2 billion for a second long-life offering, 70 percent more than the strategy's 2016-vintage debut fund.
Tulsa County Arrests, Shaquille O Neal Religion, Wayne Marshall Brother Alex Mother, Articles J