In today’s edition: more money for AI, a new CEO, and remembrances of a star executive gone too soon.
– Senseless loss. Tragedy struck in midtown Manhattan on Monday, when a gunman entered 345 Park Avenue. Four people were killed—and one of them was Wesley LePatner, one of the highest-ranking women at Blackstone.
At just 43, LePatner had risen to become global head of Core+ real estate and CEO of the $70 billion Blackstone Real Estate Investment Trust, a role she took on this past January after serving as COO. A Goldman Sachs alum who worked in the firm’s real estate investment group, she joined Blackstone in 2014.
While some initially saw the news that a shooter had entered Blackstone’s offices and compared the incident to the UnitedHealthcare CEO killing as a targeting of corporate America, it turned out to be a slightly different story. Authorities say the shooter, Shane Tamura, was there for NFL, which is in the same office building; in a suicide note he left, he claimed to suffer from CTE.
LePatner’s death was a total fluke—she was on her way out the door to meet a colleague for a drink around 6:30 p.m., the Wall Street Journal reported. She was the only Blackstone employee killed.
Colleagues remember LePatner as a long-rising star who was beloved at the firm. She was an advocate for other women, helping them secure promotions, handle office politics, and celebrate achievements, the Journal reported. She served as a role model for women in real estate especially, speaking and giving advice to rising professionals at gatherings for women in the industry. Recently, she had spoken about real estate investing at a Forbes summit focused on women advisors in wealth management.
She counted among her own mentors Kathleen McCarthy, global co-head of Blackstone’s real estate business. McCarthy told the Journal that LePatner was “the source of so much good and light in the world, who herself was so accomplished, and yet was the highest integrity, most supportive colleague and friend.” Blackstone president Jonathan Gray told the Journal that he had seen LePatner in action earlier on Monday, dealing with a difficult business issue during a meeting of Blackstone’s real estate investment committee, of which she was a member. Earlier this year, LePatner had posted on LinkedIn about the post-pandemic recovery of commercial real estate. She said that Blackstone’s portfolio was “strategically positioned to succeed.”
What former colleagues say was so special about LePatner is how she navigated the sometimes-cutthroat waters of Wall Street without adopting that way of operating herself. She “lifted everyone around her. … It’s unusual if you’ve ever worked in these financial institutions,” one former Goldman Sachs colleague told the New York Times. Despite the demands of frequent work travel, she prioritized her family and set an example for other working mothers, colleagues said.
In New York, LePatner was a civic leader, too. She was a new member of the board for the Metropolitan Museum of Art and a longtime Jewish community leader and member of the board of the UJA-Federation of New York.
Three others were killed in the shooting, including Julia Hyman, a young employee of building management company Rudin Management.
Emma Hinchliffe
emma.hinchliffe@fortune.com
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ALSO IN THE HEADLINES
- Best investors. A "gender neutralization" of investing is underway, according to a top Morgan Stanley advisor. More women are investing in the stock market; especially among Gen Z, women are closing the gender investing gap and seeing strong results in their portfolios. Barron's
- AI wars. Anthropic, the AI company cofounded by Daniela Amodei, is reportedly close to a deal to raise as much as $5 billion at a $170 billion valuation. Bloomberg
- Ready to go. Athleta is a woman-led business again. The $1.35 billion Gap Inc. brand has a new CEO: Maggie Gauger, a 20-year veteran of Nike. Fortune
- Conditions for Congress. Ghislaine Maxwell says she'll testify in front of Congress about Jeffrey Epstein—with a few conditions. She wants immunity from future prosecution, which a House committee spokeswoman already said is unlikely, and to see the questions in advance. Fortune
MOVERS AND SHAKERS
Jia Hyun has joined Reddit as VP of Global LCS, a new role.
Intrepid Travel named Louise Laing VP of USA marketing.
Meg Rushton is now chief communications officer for the Women's Sports Foundation.
ON MY RADAR
The WNBA has a good problem on its hands The Atlantic
FDA panel on the use of SSRIs during pregnancy is alarming experts LA Times
Why women are weary of the emotional labor of 'mankeeping' New York Times
PARTING WORDS
"I have been self-retiring for 30 years. I have been prepping to get out, so that I don’t have to suffer the same as my family did. I want to leave the party before I’m no longer invited."
— Jamie Lee Curtis, speaking with the Guardian about aging in Hollywood
