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Business Insider
an hour ago
- Business Insider
Blackstone says real estate executive Wesley LePatner was among those killed in NYC shooting
The Blackstone executive Wesley LePatner was among those killed on Monday by a gunman who entered the company's Park Avenue offices, the private equity giant said in a statement Tuesday morning. LePatner, a mother and wife, was the $1.2 trillion firm's global head of core+ real estate and CEO of Blackstone Real Estate Income Trust, an evergreen real estate fund. Her death has left staff at the New York-based asset manager "heartbroken," the statement said. "Words cannot express the devastation we feel. Wesley was a beloved member of the Blackstone family and will be sorely missed. She was brilliant, passionate, warm, generous, and deeply respected within our firm and beyond. She embodied the best of Blackstone," the statement continued. LePatner, a Yale graduate and trustee of New York's Met Museum, was an executive at Goldman Sachs before joining Blackstone in 2014. She told Business Insider in 2022 that her unit was, "for all intents and purposes, a startup." "I faced all the challenges one could imagine when building a multibillion-dollar business — from hiring to ensuring standards remain high, moving quickly to keep up with growth, and staying ahead of market swings and growing pains," she said. She also served on the board for the UJA-Federation of New York, which honored her at its Wall Street dinner in 2023. Blackstone's President Jon Gray presented her with a leadership award and lauded her ascent in finance and her support of women on Wall Street, according to a press release. LePatner is one of four victims who lost their lives to the gunman, who has been identified by the police as Shane Tamura. The gunman died of an apparent self-inflicted gunshot wound in the building.
Yahoo
an hour ago
- Yahoo
Potential Multi-Year Growth for Saia (SAIA) If Freight Industry Rebounds
The London Company, an investment management company, released 'The London Company SMID Cap Strategy' second quarter 2025 investor letter. A copy of the letter can be downloaded here. Following a downturn in Q1, U.S. stocks experienced a double-digit gain in Q2, amid volatility stemming from tariff news. A risk-on rally followed due to a temporary pause in tariff escalations, widespread optimism around enterprise AI, and a healthy earnings outlook. Against this backdrop, the portfolio fell 0.6% (-0.8% net) during the second quarter vs. an 8.6% increase in the Russell 2500 Index. Sector allocation contributed to the fund's performance in the quarter, while stock selection detracted. Please review the fund's top 5 holdings to gain insight into their key selections for 2025. In its second quarter 2025 investor letter, The London Company SMID Cap Strategy highlighted stocks such as Saia, Inc. (NASDAQ:SAIA). Saia, Inc. (NASDAQ:SAIA) is a North America-based transportation company. The one-month return of Saia, Inc. (NASDAQ:SAIA) was 9.19%, and its shares lost 23.58% of their value over the last 52 weeks. On July 28, 2025, Saia, Inc. (NASDAQ:SAIA) stock closed at $323.23 per share, with a market capitalization of $8.61 billion. The London Company SMID Cap Strategy stated the following regarding Saia, Inc. (NASDAQ:SAIA) in its second quarter 2025 investor letter: "Saia, Inc. (NASDAQ:SAIA) – SAIA remained weak this quarter as the lingering 'freight recession' drags on for almost its third year. We remain convicted in our ownership of SAIA due to its solid balance sheet and strong network growth plan. We believe the company could be a multi-year compounder, assuming the freight industry returns to normal demand patterns. A long line of trucks transporting goods across the open road, symbolizing the long-distance transportation services of the company. Saia, Inc. (NASDAQ:SAIA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Saia, Inc. (NASDAQ:SAIA) at the end of the first quarter, compared to 31 in the previous quarter. In the second quarter of 2025, Saia, Inc. (NASDAQ:SAIA) announced revenue of $817 million, marking a 0.7% decrease compared to the same quarter last year. While we acknowledge the potential of Saia, Inc. (NASDAQ:SAIA) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Saia, Inc. (NASDAQ:SAIA) and shared Polen US SMID Company Growth Strategy's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
2 hours ago
- Yahoo
Wall Street's New Bitcoin Darling Says It'll Be "The Berkshire Hathaway of The Bitcoin Ecosystem" — Will it Actually Happen?
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Wall Street's new Bitcoin darling has declared a lofty goal for the firm: becoming 'the Berkshire Hathaway (NYSE:BRK, BRK.B)) of the Bitcoin ecosystem." 'We're really trying to create a fortress-like environment for our Bitcoin and really trying to position ourselves as the Berkshire Hathaway of the Bitcoin ecosystem,' Bitcoin Standard Treasury Company investment chief Sean Bill told Bloomberg last week. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . The new firm, which will serve as the latest Bitcoin proxy for Wall Street speculators, is not the only one that has declared this ideal. 'We're going to be one of the major players in the space where I look at us as kind of the Berkshire Hathaway of Bitcoin treasury companies,' Strive Asset Management CEO Matt Cole said in May. But what does becoming the Berkshire Hathaway of the Bitcoin ecosystem or Bitcoin treasury companies mean? In the traditional finance world, Berkshire Hathaway is a symbol for all the ideals that most companies aspire to, from integrity to corporate discipline and long-term shareholder value growth. This reputation has come with several benefits. For one, the firm has its pick of acquisition deals as businesses line up to be included in its portfolio. At the same time, it also allows the firm to command favorable terms in credit markets. Trending: New to crypto? on Coinbase. These elements would be critical for a firm looking to become the dominant player in the Bitcoin treasury ecosystem. But attaining such heights is no walk in the park. Bitwise Head of Alpha Strategies Jeff Park said in June that the Berkshire Hathaway of Bitcoin would have to master three return on equity strategies, including liability, asset and operating equity management. But that's not all. 'Becoming the 'lender of last resort' for the global Bitcoin economy is both a privilege and responsibility that will demand flawless execution,: he said. 'But to truly earn this honor, a fourth element is essential. If 'never sell your Bitcoins' is the ethos, then leadership must also embody Bitcoin's culture for the long term. It must unapologetically back Bitcoin development, supporting the community over the corporate, and invest its spiritual weight alongside its financial.'Park said no single firm checked all the boxes at the time. Until such a firm arises, MicroStrategy (NASDAQ:MSTR), the pioneer of the Bitcoin treasury strategy, remains the dominant player. At last look, the firm holds nearly 608,000 BTC worth over $71 billion, roughly 3% of all Bitcoin that will ever exist. By comparison, Bitcoin Standard Treasury Company intends to launch with just over 30,000 BTC worth $3.5 billion, making it the fourth-largest Bitcoin treasury. But according to Bill, the firm plans to quickly rise to the second spot, displacing MARA Holdings (NASDAQ:MARA), which holds 50,000 BTC on its balance sheet. Read Next: 7,000+ investors have joined Timeplast's mission to eliminate microplastics— Image: Imagn Images This article Wall Street's New Bitcoin Darling Says It'll Be "The Berkshire Hathaway of The Bitcoin Ecosystem" — Will it Actually Happen? originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
