This week, we converse with Kathleen McCarthy, the worldwide co-head of Blackstone Actual Property. The most important proprietor of economic actual property globally, Blackstone Actual Property has a $565 billion portfolio and $319 billion in investor capital beneath administration. McCarthy beforehand served as Blackstone’s international chief working officer; earlier than becoming a member of Blackstone in 2010, she labored at Goldman Sachs.
We talk about her experiences at Goldman Sachs in the course of the monetary disaster and housing implosion. There was missed alternative that coloured her perspective on future actual property investments. The large takeaway: Properties should be strong sufficient with the suitable capital construction to face up to market downturns and even the occasional catastrophe extraordinary disasters.
Her attraction to Blackstone post-GFC was attributable to these components: The agency had numerous “dry powder, they had been well-positioned to behave opportunistically, they usually took benefit of their very own inner knowledge creation & analytics.
Word: We recorded this in November — earlier than the information on BREIT broke; in case you are interested in this, see my response.
A listing of her favourite books is right here; A transcript of our dialog is obtainable right here Tuesday.
You possibly can stream and obtain our full dialog, together with the podcast extras on iTunes, Spotify, Stitcher, Google, YouTube, Bloomberg. All of our earlier podcasts in your favourite pod hosts may be discovered right here.
Make sure you try our Masters in Enterprise subsequent week with Robert Koengisberger, founder and CIO of Gramercy Funds Administration, which manages $5.2 billion in distressed Rising Markets Debt. Gramercy’s chairman is (earlier MiB visitor) Mohamed A. El-Erian; the agency is a sponsor of the Greenwich Financial Discussion board.
Kathleen McCarthy’s Favourite Books
Say Nothing: A True Story of Homicide and Reminiscence in Northern Eire by Patrick Radden Keefe
Empire of Ache: The Secret Historical past of the Sackler Dynasty by Patrick Radden Keefe
Harry Potter Paperback Field Set by J.Ok. Rowling
Charlie and the Chocolate Manufacturing unit by Roald Dahl
Matilda by Roald Dahl
The Witches by Roald Dahl
Implausible Mr. Fox by Roald Dahl