Thomas H. Lee, a pioneer in the trillion-dollar business of private equity, has died, his family confirmed yesterday. (The New York Post reports that he was found dead in his Manhattan office of what appeared to be a self-inflicted gunshot wound.) During his four-decade career in leveraged buyouts, Mr. Lee struck enormous takeovers, including some hugely profitable ones, and helped define the industry as a major force on Wall Street. Forbes recently estimated his net worth at about $2 billion. Mr. Lee founded his buyout shop in 1974, drawing on an inheritance and a family loan, after working at L.F. Rothschild and First National Bank of Boston. What was then known as Thomas H. Lee Partners helped develop the traditional playbook for leveraged buyouts: borrowing huge sums of money to buy a company, then cutting costs and improving the bottom line before selling it again. Details on The New York Times.

Ukraine installs protective glass to protect Banksy’s murals

The government of Ukraine has installed special “impact resistant” glass over several Banksy paintings that first started appearing on buildings in the country in the fall of 2022. The paintings, which have already been vandalized in some places, will also get wireless security camera protection that alerts authorities when someone is trying to alter or steal the paintings, according to a new report from the Washington Post. The paintings started popping up late last year and were seen as a commentary on Russia’s invasion of Ukraine, which started exactly a year ago this coming Friday. Banksy is a semi-anonymous street artist from the UK whose artwork has sold for millions around the world, with his most expensive piece fetching over $25 million. And it’s that high price tag that makes Banksy’s art a target for thieves. Read more on Forbes.