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? Blackstone 3d Amid global economic uncertainty and the ongoing recovery from COVID's systemic shock, we asked Global Head of Private Equity Joe Baratta for his perspective on the current. The first deal we looked at was in France. And so, we bought the pub business. Paris Wald is my producer. You can take margins up. We have some assets. We still continue, in many of our companies, to struggle to fill open roles. Late last year, a trio of engineers who had just helped Apple modernize its search technology began working on the type of technology underlying ChatGPT, the chatbot from OpenAI that has captivated the public since it launched last November. And so, Im proud of how we navigated that cycle, and I think were in a more normal world. Terms and Conditions. Who cares about brown shoes? Id never lived abroad. RITHOLTZ: And when you say Steve, for those people who may not be familiar with . But I cant explain it. Monitor your investments 24 hours a day, around the clock from around the globe. BARATTA: And then, of course and now, look, theyre fun to watch. You saw it in the financial services sector. So certain elements of technology, particularly in software, we think are much more attractive than they were a couple years ago, not to say they look overwhelmingly cheap, but certainly more attractive than they were. RITHOLTZ: And so you guys are expanding in the 2000s in Europe. Theres a little more friction in those types of industries. MiB: Joe Barratta, Blackstone's Global Head of Private Equity April 15, 2023 10:00am by Barry Ritholtz This week, we speak with Joseph Baratta, who since 2012, has served as Global Head of Private Equity at Blackstone - the world's largest alternative asset manager, with $975 billion in assets under management. Portions of this site are directed only to persons in certain jurisdictions. So Im watching the Cowboys like every Sunday. So, really, in private equity, our first adventure outside of Western Europe was in India and China, and that was somewhere around 2005. Joseph Baratta | Year Up I think its really important for people who are workaholics, who are high achievers to put, you know, everything that were doing every day into context and define happiness kind of outside that box. BARATTA: No, its hard, and what we began to do is hire local people. BARATTA: even though they lost in that 81 thing. BARATTA: Yeah. Theres plenty of great smaller banks whose business strategy is to serve smaller and medium-sized businesses. Mr. As of 1 April 2023 he still owns at least 1,145,448 units of Blackstone Inc stock. 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: A broad spectrum of different holdings. BARATTA: where the music is amazing. Valuations go up and you saw it, of course, in the late 90s, in the tech sector. Theres nothing intimidating about those institutions, and then I knew some people who are involved. Blackstone Group Inc Chief Executive Stephen Schwarzman pocketed at least $610.5 million in 2020 from dividends and compensation, more than any other private equity executive and up 20% from last . I mean, you have a bunch of companies that have trillion dollar-plus market caps. You can see the complete history of Mr. Baratta stock trades at the bottom of the page. While Qatar has reportedly spent $200 billion or more, most nations are now unwilling to spend a fraction of that on money-losing mega-events like the World Cup or the Olympics. We have been speaking with Joe Baratta. they do. BARATTA: No, no. To receive email alerts from Blackstone, sign up below. For press inquiries, contact [emailprotected]. You want to be able to ensure that youre bringing in best-in-class management thats really perfectly aligned with you. BARATTA: Steve Schwarzman, our co-founder and CEO and chairman and, you know, amazing mentor and great businessman. The dot-com had just imploded. Mr. Baratta has been with Blackstone for 22 years, including ov I think that also theres a bunch of businesses that are manufacturing things that must exist in the physical world, you know, to cool or heat the environment, food, the distribution of essential medical products, whole energy transition. Blackstone, as a brand name, was becoming more known just everywhere, but in particular in Europe, because we werent particularly well known at that time. RITHOLTZ: By the way, there are a lot of different names for Blackstone. Mr. Joseph Patrick Baratta, also known as Joe, has been the Global Head of Private Equity at The Blackstone Group, Private Equity Group since July 2012. RITHOLTZ: I was waiting for you to say, and it was 10:00 a.m. and they broke open the bottles of Bordeaux. BARATTA: How could a kid from Sacramento be a Dallas Cowboys fan? BARATTA: Yeah. BARATTA: looking at the divestiture from Vivendi. It seems like private equity is qualitatively different than it was back in the early days. RITHOLTZ: Really quite interesting. BARATTA: I agree with you, I mean, 100 percent. Read deeply reported stories from the largest newsroom in tech. Mr. Baratta joined Blackstone in 1998 and in 2001 he moved to London to help establish Blackstones corporate private equity business in Europe. You can stream and download our full conversation, including any podcast extras, iTunes, Spotify, YouTube, Stitcher, Google, Bloomberg, and Omny. When Baratta led private equity giant Blackstone Group's 102 million ($136 million) deal to buy Merlin Entertainments in 2005, the U.K. theme park group was best known for the macabre London. 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. RITHOLTZ: So youre anticipating one of the questions Im going to ask you, which I might as well bring it up now. BARATTA: What weve found is that control is important in India. MiB: Joe Barratta, Blackstone's Global Head of Private Equity RITHOLTZ: So really a period of transition and . As for the right way, the correct way, and the only way, it does not exist. In terms of sectors, the real value dislocations have happened in the technology industry. So it was a beneficiary of the technology change. BARATTA: particularly this offseason, theyve done a nice job. RITHOLTZ: Really interesting. BARATTA: Yeah, hes amazing. You know, in the market, its like if you start at the wrong time, if youre wrong for a few quarters, like, boom, like the career is abbreviated. I had no language skills. So we were materially bigger than we were 25 years ago. How ChatGPT is Roiling 13 Software Companies, By Kevin McLaughlin, Aaron Holmes and Anissa Gardizy, Apples AI Chief Struggles With Turf Wars as New Era Begins, In Google Founders Shadow, CEO Pichai Discovered the Limits of His Power, IRLs CEO Steps Down After Allegation of Inflated User Numbers, Former IRL Employee Alleges Company Inflated User Count. BARATTA: I had agreed to go before September 11th happened. But were seeing solid demand. BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the podcast, I have an extra special guest, Joe Baratta is the Global Head of Private Equity at PE giant Blackstone, where he has worked since 1998. By selecting the relevant option, you certify that it accurately reflects your residency. It has to be growing. Youve been there for 25 years. And, you know, why is that? Our People - Blackstone And I met the director one day and, you know, they asked me to get involved. how to check soundcloud notifications on mobile; shadows of london dress up time princess walkthrough; bill de blasio wife missing money;
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