Schwarzman receives $374.5m payout for 2013

Money On Hook

Blackstone Group chief Steve Schwarzman received $374.5m last year in pay and cash dividends, an increase of 76% from 2012, as the world’s biggest alternative-asset manager took advantage of rising equity markets to sell shares of companies.

Bloomberg reports that Schwarzman, the billionaire chief executive officer of Blackstone, was paid a $350,000 salary and got $21.6m in carried interest, or his slice of investment profits, the company said today in a filing with the U.S. Securities and Exchange Commission. The 67-year-old also received $352.5m in cash distributions during the year from his ownership of partnership units in the company he co-founded in 1985 as a leveraged-buyout group.

'We’re in a really marvellous position and I don’t worry about growth - it’s just coming at us', Schwarzman said in a television interview on Fox Business Network. 'I worry about delivering great investment products for investors. And if you do that all the time and you do it at scale, good things will happen to you'.

To access the complete Bloomberg article hit the link below:

Blackstone's Schwarzman Has $375 Million Payout on '13 Exits

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