Key Takeaways
- • Blackstone's real estate division is seeking to recover after a difficult stretch marked by high-profile departures and losses, according to Bloomberg's headline.
- • Bloomberg reports that the division's morale was hurt by a brutal market and by the shooting death of Wesley LePatner at the firm's New York headquarters nearly a year earlier.
- • Founder Steve Schwarzman hosted top real estate leaders at his Manhattan apartment for dinner in June, with Jon Gray, his handpicked heir apparent, to gauge how the group was holding up.
Summary
Blackstone's real estate business has had a rough stretch, according to Bloomberg, with a difficult market weighing on the group. The publication's headline also points to shock exits and losses within the unit, though the available excerpt does not detail the departures or the size of the losses.
The shooting death of Wesley LePatner at the firm's New York headquarters nearly a year earlier was still weighing heavily on the group, per the report. Concerned about the division's condition, co-founder Steve Schwarzman invited top leaders from the real estate business to his Manhattan apartment for dinner in June. Schwarzman and Jon Gray, whom he has chosen as his heir apparent, used the gathering to see firsthand how the leaders were holding up and to try to raise morale.
The excerpt does not provide fund performance figures, assets under management, or details of the planned recovery. Readers seeking those specifics should refer to the full Bloomberg article.
The shooting death of Wesley LePatner at the firm's New York headquarters nearly a year earlier was still weighing heavily on the group, per the report. Concerned about the division's condition, co-founder Steve Schwarzman invited top leaders from the real estate business to his Manhattan apartment for dinner in June. Schwarzman and Jon Gray, whom he has chosen as his heir apparent, used the gathering to see firsthand how the leaders were holding up and to try to raise morale.
The excerpt does not provide fund performance figures, assets under management, or details of the planned recovery. Readers seeking those specifics should refer to the full Bloomberg article.
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