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Blackstone’s Stephen Schwarzman Takes Private Equity Prize for 2014

Private Equity was a winner for Blackstone, housing, not so much

Stephen Schwarzman

Blackstone chief Stephen Schwarzman took home the Wall Street award for most successful private equity boss, and made a cool $690 million, according to Fortune. This is 52% higher than the amount he took home last year.

The firm has had a winning strategy in the past year of successfully selling assets when the valuations were at their peak. Distributable earnings were $3.1 billion in 2014, compared to $1.9 billion in 2013. Schwarzman’s filing showed he took $85.9 in compensation, $570 million in dividends and $33.5 million from investments. In second and third place are Apollo’s Leon Black, who took home $331 million and Carlyle group, whose founders made $95 million each.

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In January, Schwarzman told the New York Times Blackstone saw a doubling in private equity but a decline in housing. The housing investments fell 38%, but that could have been due to the tough comparisons after Blackstone made money on the Hilton Worldwide IPO. He indicated that he might look at depressed oil assets, but the continued fall in the price of the commodity was troubling. Schwarzman told the NYT, “Looking forward, we see continued momentum across all of our businesses as the environment for both investing opportunistically and harvesting more seasoned assets becomes attractive.”

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